ZEEL

By Aditya Kalra

NEW DELHI, May 20 (Reuters) - Indian fashion-to-beauty retailer Nykaa has asked a New Delhi court to make Meta META.O a party to a copyright dispute filed by media firm Zee, court documents show, in a case seen as having implications for the commercial use of music on Instagram.

• Zee Entertainment ZEE.NS has sued Nykaa FSNE.NS for allegedly using its copyrighted songs in Instagram reels to promote its products, seeking $210,000 in damages, Reuters reported this month.

• In a non-public filing dated May 19 and seen by Reuters on Wednesday, Nykaa told the Delhi High Court that Meta must be included, as only it can "authoritatively state whether use" of music clips by Nykaa breached any licence terms.

• Zee argues its licensing agreement with Meta allows individuals to use its music in posts, but only for non-commercial purposes.

• Nykaa has also argued the dispute should first go to mediation, the filings show.

• Legal experts say the case could have wider implications, given Nykaa and Zee are both major listed companies in India.

• Meta, Nykaa and Zee did not respond to requests for comment.

• Music and film copyright disputes have been in focus in India. Zee has also sued a Reliance-Disney joint venture over alleged use of its music, while the Reliance-led venture has filed a case against Zee over alleged Bollywood film licensing breaches.

(Reporting by Aditya Kalra. Editing by Mark Potter)

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Zee Entertainment Enterprises Ltd ZEE.NS:

• ZEE ENTERTAINMENT - TO INVEST UP TO 1 BILLION RUPEES IN ZBULLET ENTERPRISES

Source text: ID:nNSEZnLRz

Further company coverage: ZEE.NS

Adds share price reaction in paragraph 9

By Aditya Kalra

NEW DELHI, May 15 (Reuters) - India's JioStar, the TV and online entertainment venture of Reliance and Walt Disney, has initiated legal measures against rival Zee Entertainment for alleged unauthorised broadcast of Bollywood films it has the rights to, documents show.

Billionaire Mukesh Ambani's JioStar is the No. 1 player in India's vibrant $30 billion media and entertainment industry, while Zee ZEE.NS, one of India's oldest media groups, is a smaller rival. They are already locked in a $1 billion arbitration in London over a collapsed cricket licensing deal in 2024.

In April, Zee sued JioStar in a Delhi court for unauthorised use of its copyrighted ‌music. In an apparent tit-for-tat move, JioStar filed a case on May 4 with a legal mediation committee challenging Zee's broadcast of some Bollywood movies last year even though their rights at the time vested with the Reliance-led entity, according to legal documents reviewed by Reuters.

JioStar alleges Zee telecast 12 distinct films around 20 times, including some blockbusters starring popular Bollywood film actors like Shah Rukh Khan and Aamir Khan.

Zee "is a habitual infringer", JioStar said in its 120-page plea, accusing Zee of continuing to "engage in the unauthorised broadcast and exploitation of the films".

The filing has not been reported previously.

The plea was filed at the Delhi High Court Legal Services Committee, which provides a dispute resolution mechanism aimed at amicable settlements. If it is unresolved, JioStar could escalate the case to a court.

The documents said the committee has asked Zee to appear before it on May 25, adding that a failure to do so will be considered a refusal to participate in the mediation.

Shares in Zee extended losses after the Reuters story, falling 3.4% in Mumbai trading.

JioStar, formed from Reliance RELI.NS and Disney's DIS.N $8.5 billion ​merger of their Indian media assets in 2024, and Zee both declined to comment.

BIG PLAYERS, MANY LEGAL NOTICES

JioStar and Zee reach hundreds of millions of viewers through scores of TV channels and a streaming platform each. Reliance says JioStar has a 34.2% market share of India's TV market, while Zee says its share is at a four-year high of 18%.

In the music case filed in April, Zee is seeking $3 million from JioStar for allegedly using its music at least 50 times after certain licensing agreements expired.

Two sources with direct knowledge said JioStar is likely to seek upwards of 250 million rupees ($2.61 million) for alleged infringement of its rights to the Bollywood films, though a number is yet to be finalised.

The Bollywood film case reached the court committee stage after the two sides exchanged more than a dozen legal notices and letters starting February 2025, documents show.

The films involved include runaway hits like the 1975 Deewaar (Wall), starring Amitabh Bachchan, and Tridev (Trinity). Jio said it has the rights to these films and Zee allegedly broadcast them without having permission to do so.

Zee said the broadcasts were "inadvertent and unintentional" and it would exercise due caution, but declined any liability for damages that Reliance was seeking.

JioStar has also accused Zee of unauthorised broadcast of Aamir Khan starrer Dangal (Wrestling Bout). The 2016 movie, based on a real-life Indian wrestler, was a big Bollywood hit and won several awards.

Zee denied any wrongdoing, and argued it had permission from the production house to broadcast the movie.

(Reporting by Aditya Kalra; Editing by Raju Gopalakrishnan)

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May 7 (Reuters) - Zee Entertainment Enterprises Ltd ZEE.NS:

• ZEE ENTERTAINMENT - COMPANY HAS INITIATED LITIGATION PROCEEDINGS AGAINST JIOSTAR INDIA

Source text: ID:nnAZN4SUW4Q

Further company coverage: ZEE.NS

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Removes extraneous million next to $1 billion figure in paragraph 5

By Aditya Kalra

NEW DELHI, May 6 (Reuters) - India's Zee Entertainment ZEE.NS has sued the Reliance-Disney joint venture, the country's biggest entertainment company, alleging it used Zee's copyrighted music after licence agreements expired, court documents show.

Zee is seeking $3 million in damages, alleging unauthorised use and exploitation of works from its music division on the Reliance-Disney streaming platform and some of its TV channels, according to previously unreported court papers seen by Reuters.

The lawsuit, filed in New Delhi and reported by Reuters for the first time, marks the latest legal clash between Zee and the group formed from Reliance and Disney's $8.5 billion merger in 2024. The dispute underscores rising tensions over content rights as India's streaming and broadcast market consolidates.

Zee and JioStar, the name of the Reliance-Disney venture led by Indian billionaire Mukesh Ambani's Reliance RELI.NS, declined to comment.

Zee and Reliance are also locked in arbitration in London, where Reliance is seeking $1 billion in damages from Zee for quitting a cricket licensing deal in 2024. Zee denies any wrongdoing and is contesting the demand.

In its 1,800-page lawsuit filed on April 14, Zee alleges that Reliance-Disney used its music at least 50 times after certain licensing agreements expired in 2024 and 2025 and were not renewed due to disagreements over commercial terms.

"The illegal exploitation thereof amounted to copyright infringement," Zee said in the filing, asking the court to stop any ongoing infringements of its music works.

JioStar owns a library of thousands of shows and broadcast rights for top sporting events across its TV channels and its streaming app JioHotstar, India's biggest with about 500 million monthly users.

Zee, one of India's oldest media groups, also has several TV channels and a streaming app, and says it owns a catalogue of more than 19,450 songs in 17 languages.

RELIANCE REJECTED DAMAGES DEMAND

The case was briefly heard on Tuesday, when the judge asked JioStar to ensure there is no ongoing infringement of Zee's works on its platforms while the matter is heard, and to comply within 15 days, according to a source with direct knowledge.

The next hearing is scheduled for July 23.

The lawsuit comes amid Zee's broader push against what it says is abuse of its music catalogue. Reuters reported on Tuesday that Zee has sued fashion-to-beauty retailer Nykaa FSNE.NS, alleging it used Zee's copyrighted songs in Instagram reels to promote products, and is seeking $210,000 in damages.

In the case against JioStar, Zee says its music was infringed across music and dance shows that appeared on TV and the streaming platform.

Court papers show Zee and JioStar have held discussions in recent months and exchanged several letters and legal notices over the disputed use of music.

In December, JioStar told Zee it had "taken extensive steps to remove any infringing content across its portfolio", including legacy programming.

However, it said residual and passive archival hosting did not amount to infringement or unlawful communication, a position Zee disputes, the documents show.

JioStar "categorically rejects" the "coercive demands" for damages, it said in a letter dated March 16, adding that it "remains open to an amicable and commercially sensible solution".

(Reporting by Aditya Kalra. Additional reporting by Munsif Vengattil and Arpan Chaturvedi. Editing by Mark Potter)

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Adds details and background of lawsuit, lawyer comment from paragraphs 8-12

By Aditya Kalra and Arpan Chaturvedi

NEW DELHI, May 5 (Reuters) - India's Zee Entertainment ZEE.NS has sued fashion-to-beauty retailer Nykaa FSNE.NS for allegedly using its copyrighted songs in Instagram reels to promote its products, seeking $210,000 in damages, previously unreported court documents show.

In an April 3 lawsuit filed in the Delhi High Court, Zee argued it has a licensing agreement with Meta Platforms META.O that allows individuals to use its music in Instagram posts for non-commercial use, but said Nykaa had used several of Zee's copyrighted songs in reels to promote products to millions of followers.

The lawsuit documents are not public but were reviewed by Reuters. Nykaa and Zee both declined to comment on the lawsuit.

Short-video formats have become a key advertising tool for brands on social media platforms like Meta's Instagram, often featuring popular Hindi songs as background music.

TWELVE FLAGGED LINKS TAKEN DOWN

Zee listed 12 Instagram reels in its lawsuit, along with screenshots, where Nykaa allegedly used Zee's licensed music to promote its products in social media posts.

In a brief hearing on Thursday, Nykaa's lawyer told the court that the 12 flagged links had been taken down, according to a court order which has not previously been reported.

Nykaa allegedly used the music "without securing any permissions/authorisations from" Zee, according to the over 900-page lawsuit.

Zee has asked the court to award 20 million rupees ($209,742) as compensation over Nykaa's illegal use of its music, the lawsuit said.

Zee and Nykaa are big listed players in their respective sectors in India, and legal experts said the case could have wider implications.

"Marketing departments often use content available on music libraries without reading the fine print of the Instagram terms" and the decision should "provide much-needed clarity," said Aditya Gupta, a partner at India's Ira Law.

The case will next be heard on May 26.

(Reporting by Arpan Chaturvedi; Editing by Bernadette Baum)

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April 17 (Reuters) - Zee Entertainment Enterprises Ltd ZEE.NS:

• TO INVEST UP TO 1.16 BILLION RUPEES IN PHANTOM DIGITAL EFFECTS CCDS

Source text: ID:nBSE4M1W3w

Further company coverage: ZEE.NS

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** UBS says softness persists for India's media sector, especially on the advertising side, with no visible recovery signs

** Adds that average weekly ad insertions for the quarter are still below peak levels, showing rapid decline

** "We believe this trend will continue to play out and remain cautious on the sector" - UBS

** Brokerage says while underlying trends remain weak for Zee, year-on-year decline is expected to moderate this quarter, aided by favourable base effects

** Expects 4% y-o-y decline in revenues at Zee, coupled with some increase in costs

** Sees Q4 ad revenues to decline 4% y-o-y for Sun TV due to continued underlying weakness

** "Ad revenue for broadcasters has remained soft despite FMCG companies' stable ad spends, indicating an accelerating shift to digital channels" - UBS

** Zee Entertainment ZEE.NS shares down 2.5%; Sun TV Network SUTV.NS up 1.4%

(Reporting by Abhinav Parmar in Bengaluru)

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March 26 (Reuters) - Zee Entertainment Enterprises Ltd ZEE.NS:

• ZEE ENTERTAINMENT - APPROVES REDEMPTION OF FCCBS OF USD 23.90 MILLION AND CANCELLATION OF USD 215.1 MILLION COMMITMENT

• ZEE ENTERTAINMENT - APPROVES SALE AND TRANSFER OF CONTENT BUSINESS TO ZI-IPR ENTERPRISES LIMITED

• ZEE ENTERTAINMENT - APPROVES INVESTMENT OF 5 BILLION RUPEES IN OCDS AND 50 MILLION RUPEES IN EQUITY OF ZI-IPR

Source text: ID:nBSEc5TDQP

Further company coverage: ZEE.NS

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March 20 (Reuters) -

• NORGES BANK SOLD 6.1 MILLION SHARES IN ZEE ENTERTAINMENT VIA BULK DEAL - NSE DATA

Further company coverage: ZEE.NS

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Feb 18 (Reuters) -

• ZEE MEDIA CORPORATION LTD- SECURED MULTI-CHANNEL NETWORK LICENCE AND ONBOARDED OVER 350 CHANNELS INTO ITS SYNDICATION ECOSYSTEM

Further company coverage: ZEE.NS

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Jan 28 (Reuters) - India's New Delhi Television NDTV.NS posted its ninth-straight quarterly loss on Wednesday, as the news broadcaster's higher expenses continued to pressure margins.

The broadcaster, in which ports-to-energy conglomerate Adani Group owns a 69.02% stake, has been investing in newly launched TV channels and infrastructure, such as NDTV World and NDTV Marathi, alongside other programs and events, which has kept margins under pressure.

NDTV reported a 20.9% surge in expenses due to higher operating, production and marketing costs, outpacing a 13.3% increase in revenue from operations to 1.5 billion rupees, driven by its expanding channel portfolio.

Additionally, Indian consumer goods makers, who typically spend the most on television advertising, have reined in their spending due to muted demand amid rising costs of living.

Reliance group-controlled Network18 Media NEFI.NS, which owns both news and entertainment channels, flagged a weak advertising environment, saying TV news ad inventory demand fell more than 10% year-on-year during the quarter.

Zee Enterprises ZEE.NS, which runs entertainment channels, also reported a decline in ad revenue amid soft advertising conditions.

The company reported a loss of 802.5 million rupees ($8.72 million) in the October-December quarter, compared to a loss of 556.9 million rupees a year earlier.

NDTV did not disclose its ad revenue for the quarter.

The company's shares closed up 1.8% ahead of results on Wednesday.

Other rivals, TV Today Network TVTO.NS and Zee Media Corporation ZEEN.NS, are yet to report their results.

($1 = 92.0100 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru; Editing by Sonia Cheema and Vijay Kishore)

((aleefjahan.cs@thomsonreuters.com))

** Shares of broadcaster Zee Entertainment Enterprises ZEE.NS fall 2.6% to 82.84 rupees

** Co reported 5.5% decline in quarterly profit to 1.55 billion rupees ($16.9 million)

** Q3 advertising revenue, which accounts for about 40% of the total, fell 9% from a year earlier to 8.51 billion rupees

** Kotak Institutional Equities cuts PT to 90 rupees from 115 rupees citing continued weak trends in ad revenues

** While valuations look reasonable, we wait for a recovery in the linear ad environment, stability in core business profitability and a sustained improvement in Zee5 metrics - Kotak

** Stock rated "buy" on avg by analysts covering it; median PT at 127.50 rupees - data compiled by LSEG

** ZEE lost 25.8% in 2025

($1 = 91.5387 Indian rupees)

(Reporting by Brijesh Patel in Bengaluru)

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Jan 22 (Reuters) - Zee Entertainment Enterprises Ltd ZEE.NS:

• Q3 CONSOL NET PROFIT 1.55 BILLION RUPEES

• Q3 CONSOL TOTAL INCOME 22.99 BILLION RUPEES

Source text: ID:nBSE3Cx0VM

Further company coverage: ZEE.NS

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Oct 16 (Reuters) - India's Zee Entertainment Enterprises ZEE.NS reported a fall in quarterly profit on Thursday, as companies continued to pull back on advertising spending.

The company, which runs channels such as ZeeTV and ZeeCinema, said its consolidated net profit fell to 765 million rupees ($8.71 million), for the quarter ended September 30, from 2.09 billion rupees a year ago.

($1 = 87.8625 Indian rupees)

(Reporting by Komal Salecha; Editing by Rashmi Aich)

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Aug 20 (Reuters) - Zee Entertainment Enterprises Ltd ZEE.NS:

• ZEE ENTERTAINMENT ENTERPRISES LTD - ABFL FILES PETITION IN DELHI HIGH COURT CHALLENGING AWARD

• ZEE ENTERTAINMENT ENTERPRISES - TRIBUNAL HAD REJECTED ALL CLAIMS OF ABFL AGAINST CO

Source text: ID:nBSE2g1NlC

Further company coverage: ZEE.NS

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Aug 14 (Reuters) - Zee Entertainment Enterprises Ltd ZEE.NS:

• ZEE ENTERTAINMENT - INVESTMENT IN OCDS OF ZBULLET ENTERPRISES OF UP TO 500 MILLION RUPEES

• ZEE ENTERTAINMENT - INVESTMENT IN OCDS OF ADVANCE MEDIA DISTRIBUTION OF UP TO 400 MILLION RUPEES

Source text: ID:nBSE5PCdQb

Further company coverage: ZEE.NS

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** UBS says 16.8% lower Q1 ad revenues for Zee Entertainment ZEE.NS, despite steady or growing ad spends by FMCG companies, shows a structural shift of advertisers to digital platforms

** ZEE shares last down 3.8% to 128.7 rupees

** UBS is cautious on the broadcaster, retaining a "neutral" rating, with PT unchanged at 140 rupees

** Average of 16 analysts' rating on stock is "hold;" median PT is 145.5 rupees - data compiled by LSEG

** YTD, ZEE up 6%

(Reporting by Aleef Jahan in Bengaluru)

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July 22 (Reuters) - India's Zee Entertainment Enterprises ZEE.NS reported a 14% drop in first-quarter revenue on Tuesday, as the broadcaster was hurt by weak demand for advertisements.

Zee, which runs channels like ZeeTV and ZeeCinema, reported a consolidated total income of 18.5 billion rupees ($214.24 million) for the three months ended June 30, from 21.5 billion rupees a year ago.

($1 = 86.3520 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

((aleefjahan.cs@thomsonreuters.com))

** Zee Entertainment Enterprises ZEE.NS falls 5.8% to 134.7 rupees; marks biggest one-day pct loss in more than three months

** Broadcaster fails to secure required shareholder votes to raise funds by issuing warrants, blocking plans by founding Goenka family to increase stake in co

** Stock rated "hold" on avg; median PT is 140 rupees, per data compiled by LSEG

** YTD, ZEE gains 13%

(Reporting by Aleef Jahan in Bengaluru)

((aleefjahan.cs@thomsonreuters.com))

Updates throughout with details of shareholder vote, background

July 10 (Reuters) - Zee Entertainment Enterprises ZEE.NS on Thursday failed to secure the required shareholder votes to raise funds by issuing warrants, blocking plans by the founding Goenka family to increase their stake in the broadcaster.

The setback comes after the company aggressively cut costs and focused on improving performance in its core businesses following a failed merger with Sony Group Corp's 6758.T India assets.

Only 59.5% of shareholders who participated in the voting supported the resolution, falling short of the 75% majority required for approval, Zee said in a stock exchange filing late Thursday.

"While the efforts being taken have augured well for the company, in order to further safeguard it from a future growth perspective, it is important to keep a sufficient war chest," Zee said in a statement, citing a rapidly shifting market and fierce industry competition.

Proxy advisory firms InGovern and Institutional Investor Advisory Services recommended Zee shareholders vote against the proposal, which sought to raise the Goenka family's stake to 18.39% from 3.99%, citing concerns about share dilution and the use of warrants as a fundraising tool.

The motion sought to issue 169.5 million preferential warrants worth 22.37 billion rupees ($260.9 million) to Altilis Technologies and Sunbright Mauritius Investments, entities linked to the founding family, as part of a capital infusion to fund growth plans.

Public investors hold 96% of Zee's shares, with nearly 39% held by domestic and foreign institutions including HDFC Mutual Fund, Life Insurance Corp of India LIFI.NS, and Norway's Government Pension Fund Global.

Zee's shareholders had previously blocked key board decisions, including CEO Punit Goenka's reappointment as director in November 2024.

($1 = 85.7400 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru; Editing by Shreya Biswas and Tasim Zahid)

((aleefjahan.cs@thomsonreuters.com))

July 8 (Reuters) - Zee Entertainment Enterprises Ltd ZEE.NS:

• SHAREHOLDERS APPROVE DIVYA KARANI AND SAURAV ADHIKARI AS DIRECTORS

Source text: ID:nBSE50Ld2y

Further company coverage: ZEE.NS

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** Indian broadcaster Zee Entertainment ZEE.NS jumps 9.6% to 145.86 rupees, its highest since August 2024

** Co expects Zee5 streaming platform to achieve EBITDA breakeven in FY26, its investor presentation showed

** Zee5 logged EBITDA loss of 5.48 billion rupees (about $63 million) in FY25

** Stock set to log busiest trading session in 10 months, volumes at 5.3x the 30-day avg

** ZEE up 20% year-to-date

($1 = 86.7590 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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** Shares of India's Zee Entertainment ZEE.NS up as much as 3.4% at 142.75 rupees, highest since Dec. 10
** TV broadcaster said late on Monday some existing shareholders are investing $261 mln via convertible warrants
** Zee plans to build core business and invest in newer segments with funds
** Stock up for 7th straight session
** About 10 mln shares change hands vs 30-day avg of 13 mln shares - LSEG
** ZEE stock up 15.5% YTD

(Reporting by Sethuraman NR in Bengaluru)

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June 16 (Reuters) - Zee Entertainment Enterprises Ltd ZEE.NS:

• SEES TOTAL PROMOTER SHAREHOLDING TO 18.39% POST FUND-RAISING EXERCISE

Source text: [ID:]

Further company coverage: ZEE.NS

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** Zee Entertainment Enterprises ZEE.NS rises 3.5% to 132 rupees

** Broadcaster buys undisclosed stake in content startup Bullet, with which it is partnering to launch India's first "micro-drama app"

** More than 23 mln shares traded, ~2x the 30-day moving avg

** Stock rated "hold" on avg; median PT is 130 rupees, per data compiled by LSEG

** YTD, ZEE gains 8.4%

(Reporting by Rudra Pratap Singh in Bengaluru)

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June 9 (Reuters) - Zee Entertainment Enterprises Ltd ZEE.NS:

• ZEE ENTERTAINMENT - ENTERS INTO STRATEGIC PARTNERSHIP WITH CONTENT START-UP BULLET

• ZEE ENTERTAINMENT ENTERPRISES LTD - PARTNERS WITH BULLET TO LAUNCH MICRO-DRAMA APP

Source text: ID:nBSE7TP6xl

Further company coverage: ZEE.NS

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May 8 (Reuters) - Zee Entertainment Enterprises Ltd ZEE.NS:

• ZEE ENTERTAINMENT - TARGETS 8-10% AD REVENUE GROWTH IN FY26

• ZEE ENTERTAINMENT - TARGETS ABOUT 17.5% TV VIEWERSHIP SHARE IN FY26

Source text: ID:nNSEyy0jF

Further company coverage: ZEE.NS

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May 1 (Reuters) - Zee Entertainment Enterprises Ltd ZEE.NS:

• ZEE ENTERTAINMENT ENTERPRISES LTD - APPROVES INCORPORATION OF THREE WHOLLY OWNED SUBSIDIARIES

• ZEE ENTERTAINMENT - OBJECTIVE TO DIVERSIFY CURRENT BUSINESS, TO BECOME MORE EFFICIENT

Source text: ID:nBSE6gj3g

Further company coverage: ZEE.NS

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April 7 (Reuters) - Zee Entertainment Enterprises Ltd ZEE.NS:

• NCLAT DISMISSES APPEAL FILED BY IDBI BANK

Source text: ID:nBSE2jPdFg

Further company coverage: ZEE.NS

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