Category: Broadcast

Warner Bros Discovery said Monday that it plans to add veteran tech investor Anton Levy as an independent director on its soon-to-expand board of directors.

The company’s existing board, which consists of 13 directors, today approved an expansion to 14 timed to the annual shareholder meeting later this spring. The move follows a report in the Wall Street Journal by shareholder Sessa Capital, which has accumulated a 1% stake and advocated for a board revamp and more aggressive pursuit of strategic options including a cable network spinoff.

Levy is currently an Advisory Director at General Atlantic and previously served as General Atlantic’s Co-President and Chairman of Global Technology. He has led many of General Atlantic’s most notable investments in leading tech firms, among them Airbnb, Alibaba Group, Crowdstrike, Facebook, Klarna AB, Mercado Libre, Slack, Snapchat, Squarespace and Uber.

“We are pleased to welcome Anton to the Warner Bros. Discovery Board,” chair Samuel A. Di Piazza, Jr. said in a press release. “His addition is consistent with the commitment we announced in December to continue to enhance the board with industry experts with track records of value creation. We look forward to working with Anton as we continue to oversee the execution of Warner Bros. Discovery’s strategy to unlock value for shareholders.”

The planned addition of Levy to the board follows the arrival earlier this year of Anthony Noto and Joey Levin as independent directors.

“We are making meaningful progress to achieve our vision for Warner Bros. Discovery and harness the power of our unique, world-class assets to drive profitable growth,” CEO David Zaslav said. “We continue to move forward with urgency to improve performance and position our businesses for success over the near- and long-term amid the evolving industry landscape. We are confident that Anton will add valuable perspectives as we continue to take steps to drive long-term value for shareholders.”

WBD, formed in April 2022 from the merger of Discovery and WarnerMedia, has hit a few bumps with shareholders during its relatively brief existence. Last year, it agreed to pay a $125 million settlement after a judge agreed that the merger was “not entirely fair” to Discovery shareholders. Even without legal action, the combined company has struggled to win over Wall Street, with its shares trading at less than half of their value at the time of the deal. Deadline

In Q4 2024, cloud infrastructure services spending in Mainland China reached US$11.1 billion, representing year-on-year growth of 14%, according to the latest data from Canalys, now part of Omdia. For full-year 2024, total cloud spending rose from US$35.3 billion in 2023 to US$40.0 billion in 2024, marking a 13% annual increase. The rapid adoption of AI models has surpassed expectations, fueling a significant surge in demand for cloud. DeepSeek’s strong global momentum, driven by its exceptional performance and cost efficiency, has further heightened enthusiasm among enterprise customers in Mainland China to accelerate their exploration and deployment of AI. In Q4 2024, cloud providers reported robust customer demand, though growth continued to be constrained by supply-side limitations. In response, leading vendors announced substantial increases in capital investment to accelerate the modernization of AI infrastructure. Canalys forecasts that the growth of Mainland China’s cloud infrastructure services market will further accelerate in 2025, reaching 15%.

In Q4 2024, the top three cloud service providers in Mainland China – Alibaba Cloud, Huawei Cloud and Tencent Cloud – maintained their market positions, collectively accounting for 71% of total cloud infrastructure services, with combined year-on-year growth of 12%. The accelerating demand for AI products has led to an ongoing rise in market concentration, as leading cloud providers capitalize on their advantages in compute capacity and infrastructure deployment. In Q4 2024, partner-driven cloud revenue remained stable, representing 26% of total market revenue. As the AI ecosystem continues to evolve, this share is expected to grow, driven by increasing demand across industries for integrated solutions and strategic collaboration.

In January 2025, Chinese AI startup DeepSeek launched its foundation model, DeepSeek R1. Offering GPT-4o-level performance at a fraction of the cost, it was widely seen as a disruptive force and quickly gained global attention. “The launch of DeepSeek R1 has redefined the benchmarks for AI foundation model performance and cost, accelerating enterprise adoption of AI and driving profound changes across the cloud services value chain,” said Rachel Brindley, Senior Director at Canalys. “This breakthrough has significantly lowered the barriers to AI adoption and further enhanced the global influence of China’s AI ecosystem.”

Beginning in February 2025, leading Chinese cloud vendors integrated DeepSeek’s large model services into their platforms, further enhancing their AI product offerings. Propelled by DeepSeek R1, enterprise interest in AI models in China surged to unprecedented levels, with adoption expanding at a scale and speed that exceeded expectations. “The rapid adoption of DeepSeek has significantly lowered the cost barrier for enterprises to deploy large-scale AI models, sparking strong customer interest in AI applications,” said Yi Zhang, Analyst at Canalys. “The growing demand for scalable and cost-efficient AI use cases is driving a market shift from AI training-centric to AI inference-centric dynamics. The increase in cloud inference workloads is prompting vendors to scale up infrastructure investments accordingly.”

AI investment is entering a phase of substantive deployment. In line with the large-scale, high-intensity commitments made by US hyperscalers, leading Chinese cloud vendors are similarly accelerating their investment. In February 2025, Alibaba announced plans to invest more than CNY380 billion (US$52.6 billion) over the next three years in cloud computing and AI infrastructure – surpassing the company’s total investment in these areas over the past decade. In Q4 2024, Tencent reported capital expenditure of CNY34.9 billion (US$4.8 billion), a year-on-year increase of 421%. The company also indicated that it will further boost investment in 2025, with a particular focus on GPUs and related services to enhance its AI capabilities.

Alibaba Cloud maintained its lead in Mainland China’s cloud market in Q4 with a 36% share and 10% year-on-year growth, driven by strong AI demand. It recorded triple-digit AI-related revenue growth for the sixth straight quarter. By January 2025, over 290,000 users had accessed the Qwen API via the Tongyi Bailian platform. More than 90,000 Qwen-derived models exist on Hugging Face, with all top 10 open-source models based on Qwen. To enhance its AI offering, Alibaba Cloud launched the Qwen 2.5 Max model, ranking among top-tier models in coding and math. It also expanded third-party model access, enabling rapid deployment of DeepSeek V3 and R1 through the PAI Model Gallery. In February, it accelerated global expansion with new data centers in Thailand and Mexico.

Huawei Cloud, the second-largest provider in China’s cloud services market, recorded solid growth in Q4 2024, with revenue increasing 22% year on year and its market share reaching 20%. Since the launch of the Pangu Model 5.0, Huawei Cloud has continued to create value across a broad range of industries, including coal mining, railways, meteorology and finance, through its comprehensive portfolio of multimodal models tailored to diverse scales and scenarios. In February 2025, as part of its ongoing efforts to adopt advanced AI technologies, Huawei Cloud partnered with Beijing-based AI infrastructure start-up SiliconFlow to integrate DeepSeek V3 and R1 into its Ascend cloud platform, significantly enhancing inference efficiency. Beyond AI, Huawei Cloud accelerated its global expansion in 2024, with overseas revenue rising by over 50%. In March 2025, it hosted the China Enterprise Go-Global Summit, further strengthening its role in driving global digital transformation.

Tencent Cloud ranked third in China’s cloud services market in Q4, holding a stable 15% share. Driven by strong AI demand, its AI-related cloud revenue nearly doubled in 2024. But overall growth was temporarily constrained as GPU resources were prioritized for internal AI use. From Q4 2024, Tencent ramped up GPU procurement, expecting future deployments to boost cloud revenue. In February 2025, Tencent Cloud enabled one-click deployment of DeepSeek R1 on its HAI platform, enhancing AI accessibility and efficiency. The launch of its T1 inference model in March 2025, offering faster responses and improved long-text processing, further strengthened its position in China’s AI market. Canalys

City-based cinema chain Cineline India Ltd will focus on expanding its core film exhibition business after becoming net debt-free following the monetisation of its hotel asset in a Rs 270-crore deal, according to a top company official.

The company has entered into a deal with Sparsh Vidhyut to sell its hotel ‘Hyatt Centric’ in Goa for an enterprise value of Rs 270 crore, and it will use the proceeds to retire its entire debt, Cineline India CEO Ashish Kanakia said.

The hotel asset was owned by Mumbai-based Cineline India’s wholly-owned arm R&H Spaces Private Ltd.

Kanakia said that the deal has resulted in debt reduction of Rs 120 crore pertaining to the hotel asset at the subsidiary level and the company also plans to utilise the sale proceeds to fully repay its outstanding debt of Rs 108 crore related to the film exhibition business, achieving a debt-free status.

“This move will accelerate growth and help expand our market presence through the addition of new screens,” Kanakia said.

Cineline India runs 77 screens under the MovieMAX brand across 21 properties in six states and has tied up an additional 82 screens.

The company has monetised non-core real estate assets worth Rs 351 crore over the past two years, which included the sale of Eternity Mall in Nagpur for Rs 60 crore and two commercial spaces in Mumbai for Rs 21 crore.

“With debt to be fully repaid, we would strengthen our financial position and generate consistent free cash flow, which will be reinvested to drive business growth,” Kanakia added.

By leveraging innovative strategies such as expanding screens through a low revenue share or profit-sharing model with developer-funded capex, the company is well-positioned to capitalize on the anticipated box office revival, unlocking significant upside potential, Kanakia said. Business Standard

With a 40.84% rise in its share price, Bharti Airtel’s market cap soared Rs 3.10 lakh crore in fiscal 2025, emerging as the top wealth creator. Many brokerages remain bullish on the stock and have recently given it a buy rating. Driven by tariff adjustments in the Indian wireless segment, Bharti’s free cash flow generation has improved significantly over the past few years, according to a report by Motilal Oswal.

“With high-cost debt largely repaid and leverage under control, we believe capital allocation remains the key monitorable and will likely be the biggest driver for Bharti’s stock price performance over the medium term,” the report further stated.

Another brokerage firm, CLSA, has named Bharti Airtel as its top pick in the telecom sector.

HDFC Bank and ICICI Bank ranked second and third, respectively. While HDFC Bank’s market cap rose by Rs 2.99 lakh crore, ICICI Bank’s gained Rs 1.83 lakh crore. Bajaj Finance (up by Rs 1.06 lakh crore) and M&M (Rs 92,642 crore) secured the fourth and fifth positions.

The benchmark indices returned up to 5.3%, while the broader indices rose up to 8% during the last fiscal.

But there were many at the other end of the spectrum too. Reliance Industries was the top loser in FY25, with its market cap eroding Rs 2.89 lakh crore as its share price fell 14.3% during the fiscal year. Adani Green, Tata Motors, TCS, and Adani Enterprises were among the other top market cap losers, shedding up to Rs 1.40 lakh crore.

The total market cap at the BSE surged by Rs 25.9 lakh crore, or 6.7%, to Rs 412.9 lakh crore during fiscal 2025—significantly lower than the previous year’s increase of Rs 128.7 lakh crore, or 49.9%.

Sectorally, healthcare, financial services, commodities, metals, and private banks were the top gainers, rising up to 18.2% in fiscal 2025. On the other hand, PSU banks, energy, oil and gas, realty, and utilities were the top losers, declining by up to 10.6%.

Out of over 3,600 actively traded stocks, 1,763 stocks posted positive returns, while 1,839 ended in the red.

Among BSE 100 index constituents, Vedanta, Divi’s Laboratories, Bajaj Holdings, Bharat Electronics, and InterGlobe Aviation (IndiGo) were the top gainers, rising by up to 70.84%. Meanwhile, IndusInd Bank, Adani Green, Jio Financial Services, Tata Motors, and Adani Enterprises were the top losers, declining by up to 58.25% during the last fiscal. Financial Express

Senthil Chengalvarayan has stepped down from his role as the whole-time director of NDTV. In a resignation letter to the company’s board on March 25, he attributed his decision to increasing personal commitments, including family responsibilities that require my attention at this time.

Continues as Non-Executive Director
While resigning from his executive role, Chengalvarayan will continue to serve as a non-executive director, effective April 1. Expressing gratitude in his letter, he stated, “I am truly grateful for the opportunity to have served as Whole-Time Director and for the unwavering support and guidance provided by the Board throughout my tenure.”

Chengalvarayan was appointed as an additional director during the challenging period after the Adani Group’s takeover of NDTV, following the exit of founders Prannoy and Radhika Roy. He joined on December 23, 2022, and brought with him a wealth of experience as the founding editor of CNBC-TV18. FreePress Journal

Reliance Jio’s streaming platform JioHotstar has surpassed 100 million subscribers, according to a release on Thursday. The platform attributed this to its portfolio of content ranging from TV shows, reality shows, digital specials, to livestreaming of sports and major events like Coldplay and Mahashivratri.

“We have always believed that world-class entertainment should be accessible to all, and crossing 100 million subscribers is a testament to that vision,” said Kiran Mani, CEO – Digital, JioStar.

JioHotstar’s subscription numbers surpassed the sum of paid subscribers reported by erstwhile separate platforms JioCinema and JioHotstar. In the quarter ending September 2024, JioCinema had 16 million subscribers and Disney+Hotstar had 35.9 million subscribers. Even Netflix India was estimated to have over 10 million subscribers in February 2024, as per a Media Partners Asia report.

In February of this year, fans of the Indian Premier League (IPL) learnt that they will have to pay for viewership on the new JioHotstar platform. Previously, viewers had watched the matches for free on JioCinema after the platform bagged the digital streaming rights in 2023. However, now the matches will be available at a minimum subscription of ₹149. The Hindu business line

The government on Wednesday said the draft space law was undergoing thorough scrutiny as it was the maiden bill for the sector.

“Being the maiden bill in the sector, the same is undergoing thorough scrutiny in the government and will be introduced after all due processes are complete,” Union Minister of State in the Prime Minister’s Office (PMO) Jitendra Singh said in a written reply in the Lok Sabha.

The “Space Activities Bill” was first discussed in 2017 to establish a legal framework to regulate and promote space activities in India — specifically focussed towards private players in the sector.

Singh — who oversees the Department of Space, which falls under the PMO — said the Department of Economic Affairs and the Department for Promotion of Industry and Internal Trade had concurred with the approval of the Indian National Space Promotion and Authorization Center (IN-SPACe) board for selection of Ms SIDBI Venture Capital Limited as investment manager for a Rs 1,000 crore venture capital fund for the space sector.

The fund was proposed by IN-SPACe to address the critical lack of risk capital in the high-tech space sector, which is essential to sustain growth and enable Indian companies to compete internationally.

The fund, announced in the Union Budget in July last year, is designed to address the unique needs of private companies operating in the high-risk, high-reward field of space technology. PTI

Vietnam’s government said on Wednesday it will allow SpaceX to launch its Starlink satellite internet service on a trial basis in the country.

There is no limit on foreign ownership of the service, the government said in a statement, adding that the trial period will last until the end of 2030.

Allowing the U.S. firm to launch its internet service is seen by some analysts as one of the measures the Southeast Asian industrial hub has taken to avoid being hit with U.S. tariffs.

It is not yet clear if SpaceX has applied for a licence to launch its service in Vietnam.

Starlink operates in more than 120 markets worldwide.

The statement said the company is allowed to provide fixed and mobile service plans throughout Vietnam, including services on flights.

The government’s decision limits the number of subscribers at 600,000 for the trial period, according to the statement. Reuters

Senate Commerce Committee chair Ted Cruz on Tuesday asked U.S Director of National Intelligence Tulsi Gabbard to investigate if China is covertly working to prevent Congress from extending authority to auction wireless spectrum.

In 2023, the Federal Communications Commission lost the broad authority from Congress for wireless spectrum sales and lawmakers are considering legislation that would approve new auctions to free up spectrum for growing wireless use.

“China is actively working to capture global leadership in this area and ensure the next generation of global telecommunications technologies live and work on a technological backbone of their making,” Cruz said in a letter seen by Reuters.

Cruz said on Tuesday that he is working to get spectrum auction authority attached to broad tax legislation Congress is expected to take up in the coming months.

China has announced it would open more spectrum bands for future 5G and 6G wireless use while the United States is debating next steps, Cruz noted.

“Freeing up spectrum for commercial use in the United States is not just important for our economic growth; it is critically important for our global leadership,” Cruz wrote.

He said a new spectrum auction could raise $100 billion or more.

“If we do not catch up and lead, it will be Huawei that creates the backbone of tomorrow’s global communication networks through which much of the world’s economic traffic — and indeed, much of our government’s traffic — will flow,” Cruz said.

China-based Huawei, the world’s largest telecommunications equipment maker, did not immediately respond to a request for comment.

The FCC will re-auction spectrum to provide nearly $3.1 billion for U.S. telecom companies to remove equipment made by Huawei and ZTE.

Last week, FCC Chair Brendan Carr said the commission is investigating nine Chinese companies including Huawei, ZTE China Mobile and China Telecom to determine if they are seeking to evade U.S. restrictions.

It is the latest in a series of actions against Chinese telecom and technology firms by Washington. The FCC previously barred the Chinese companies from providing telecommunications services in the United States, citing national security concerns. Reuters

India will scrap a tax of 6 per cent on digital advertisements online, the finance minister said on Tuesday, easing costs for U.S. tech giants such as Alphabet’s Google, Meta and Amazon as a way of soothing U.S. trade concerns.

The move responds to concerns raised by Washington after President Donald Trump threatened reciprocal tariffs from April 2 on trading partners, including India, that fuelled alarm among exporters.

Finance Minister Nirmala Sitharaman unveiled the change while introducing amendments to the 2025 Finance Bill in the lower house of parliament, which approved the tax measures in the budget.

“(I) have proposed to remove (the) 6 per cent equalization levy for advertisements,” she told parliament.

The decision on the levy takes effect from April 1, a government source said earlier, speaking on condition of anonymity.

During Prime Minister Narendra Modi’s visit last month to the United States, both nations agreed to work on the first phase of a trade deal by autumn 2025, targeting two-way trade of $500 billion by 2030.

India’s 6 per cent equalisation levy, or digital tax, affects online advertising services provided by foreign companies, requiring them to withhold and remit the tax to the government.

The United States Trade Representative (USTR) had criticised the levy targeting U.S. companies as “discriminatory and unreasonable”, arguing that domestic companies were exempt.

A U.S. delegation led by Brendan Lynch, the assistant U.S. trade representative for South and Central Asia, is visiting India this week for talks with officials.

Last year, New Delhi abolished a levy of 2 per cent on non-resident e-commerce firms for providing online services.

Analysts said the new measure was likely to provide relief to U.S. tech companies.

The decision signals an attempt to ease trade tension with the United States, said Amit Maheshwari, tax partner at AKM Global.

“However, it remains to be seen whether this step, coupled with ongoing diplomatic efforts, will lead to any softening of the U.S. stance,” he added. Reuters