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Nita and Akash Ambani join Viacom18 board ahead of Star India merger

The move comes as viacom18 nears the final phase of its merger with disney's star india.

Photo: Twitter

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First Published: Sep 26 2024 | 12:03 PM IST

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Rs 100 cr Audi A9 Chameleon, 'gifted' luxury jet...: Nita Ambani's 'expensive' collection - Photos

Her curated collection of rare artworks and bespoke jewelry pieces speaks volumes about her impeccable taste and penchant for luxury, solidifying her status as one of india’s most influential personalities..

Updated Mar 22, 2024 20:58 IST

Among Ambani's collection of luxury cars is Nita Ambani's Audi A9 Chameleon, which is unlike any other.

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Ambani's Jets, Mittal's Yachts: Luxurious Rides Of The Ultra-Rich

Who Owns What

Private yachts and customised planes. Check out the travel modes of the jet set that double up as meeting venues, party hangouts and spots to host special occasions. For those Indians — and those with desi roots — who are counted among the world’s wealthy, island hopping in Europe aboard their customised 200-feet yacht or taking off in their bespoke jet across the continent are but a way of putting a monogram on their commute. Take a look at the rides of the jet set:

Lakshmi Mittal’s Amevi

In 2014, this London-based billionaire was spotted relaxing on the Greek island of Mykonos, dressed casually in a white T-shirt and baggy shorts. A newspaper report speculated that while Mittal lounged on the beach alongside other tourists, his 262-feet-long yacht Amevi was parked in the waters nearby. Some amenities on board: Sun decks, a heated swimming pool, a cinema, a gym, a massage room, a hairdressing salon as well as a unique, stabilised pool table to name a few.

Mukesh Ambani’s Boeing Business Jet

More than a decade ago, it was reported that Ambani gifted his wife, Nita, a private jet on her 44th birthday. It was said at the time that this jet was “custom-fitted with an office and a cabin with game consoles, music systems, satellite television and wireless communication. It also has a master bedroom, a bathroom with a range of showers and a bar with mood lighting”. As his personal ride, Ambani reportedly favours a Boeing Business Jet. “Most often, they want access to the same amenities in the air.” That’s how the airplane maker describes their customer’s requirement, a.k.a, a flying home, as that’s what’s wanted.

Ravi Ruia’s Sunrays

“The ultimate guest and owner’s yacht.” That’s how the captain of Sunrays, delivered in March 2010 describes it. According to a description of the yacht available on the Oceanco’s website, “The upper deck is given over to the owner’s suite and an adjacent VIP suite that can be combined to create one expansive living area. Both suites have fold-down sea balconies. The owner’s exterior foredeck hosts a whirlpool and sunbathing area. The remainder of the yacht’s accommodations for up to 16 guests is on the main deck with one VIP stateroom and four guest cabins.” The large dining room can be converted into a video conference room with the optional use of the adjacent library. Foldable sea balconies provide guests unimpeded views while dining.

Kumar Mangalam Birla’s Cessna Citation

A blog published by an apparel brand, owned by the Aditya Birla Group, documented the private jets of India’s rich and famous. The listicle included the jets owned by Birla, the Group’s chairman. It said, “Few people know that this sharp, business-minded entrepreneur also has a sweet tooth, when it comes to sweet flying machines, with his Gulf Stream (G100) and Cessna Citation...It’s believed that Citations are the world’s most established, well-liked and most trusted fleet of business jets. The jet has high-tech design of pilot-friendly flight decks and luxury cabin interiors. Birla is often spotted taking a ride in his luxurious aircrafts.”

Sunil Vaswani’s Platinum

This Dubai-based billionaire’s yacht is apparently a fixture in the Mediterranean and was even spotted at the French Riviera around the time that the Cannes Film Festival was held this year, with others in the list for company. Vaswani, who is considered to be one of the richest Indians in the Gulf Cooperation Council (GCC) countries, was once described as he “who lives on multiple continents and sails the Mediterranean each summer in an all-purpose luxury yacht”. The logo of the Stallion Group, which he heads, adorns the yacht.

Ratan Tata’s Dassault Falcon 2000

Tata’s love for aviation is an open secret. But he is perhaps one of the handful of billionaires in the world who not only owns a private jet, but even flies one. “A lot of people know that Ratan Tata owns a Dassault Falcon 2000 private jet but, what they do not know is that since Tata is a trained pilot, he even flies his own private jet and other jets owned by the Tata group,” said an earlier report.

Reuben Brothers’ Siren

“While watching the boat slowly taking shape in Rendsburg, we suddenly became aware of how seductive and mysterious she seemed. We just knew then that we had to call her SIREN and we are absolutely delighted with the result.” That’s the quote attributed to the owner of the 241 feet-long Siren, on the website of Nobiskrug, the German company that built the yacht. Presumably the owner quoted in question is either David Reuben or his brother Simon. Commonly referred to as the Reuben Brothers, they trace their roots back to Mumbai, and are counted among the UK’s richest individuals. Theirs is an award-winning superyacht with a foldable helicopter platform, that can double up as “a sundeck, a dance floor or a stage”.

Adar Poonawalla’s Gulfstream G550

Earlier this year, this scion became the first Indian to take delivery of a fully customised, ACH145 helicopter by Airbus. While his new ride, with a seating capacity of eight is great for covering relatively shorter distances, his Gulfstream G550 aircraft is reportedly his transportation of choice for long-haul journeys. In an earlier interview, Poonawalla had said, “With a 13-hour range, it (his jet) can take me to anywhere in the world with a single halt.” The report further added, “The plane can also come in handy when he (Poonawalla) craves continental food and in case he wants to fly in Michelin star chefs to cook for his friends and him.”

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Ahead Of Merger With Disney, Nita and Akash Ambani Join Viacom 18 Board

R eliance Foundation Chairperson Nita Ambani and Reliance Jio Infocomm Chairman Akash Ambani have joined the board of Viacom18 ahead of its merger with the India business of global media giant Walt Disney, industry sources said.

Viacom18 is the holding company that owns the media and entertainment business of billionaire Mukesh Ambani-led Reliance Industries and Bodhi Tree Systems.

Appointments after CCI and NCLT clearance

The appointments came after the Star India merger, owned by Walt Disney and Viacom 18, cleared the regulatory clearances from the fair trade regulator CCI and National Company Law Tribunal (NCLT).

Now both sides are in the final stages of the merger, making some adjustments in the business as per the Competition Commission of India (CCI) directions.

Besides, other people, including James Murdoch, co-promoter of Bodhi Tree Systems; Mohammed Ahmed Al-Hardan, head of technology, media, and telecom at the Qatar Investment Authority (QIA), a key investor in Bodhi Tree, are joining the board after its reconstitution.

Additional appointment

In addition, Jyoti Deshpande, president of media and content business at RIL, and Shuva Mandal, partner at Anagram Partners, have also been appointed to the Viacom 18 board.

Earlier on August 30, the NCLT had approved the scheme of merger of Viacom18 Media and Digital 18 Media, holding media and entertainment assets of Reliance Industries with Star India.

The scheme had proposed the transfer and vesting of Media Operations Undertaking from Viacom 18 and Jio Cinema into Digital18, which is a subsidiary of Viacom 18. This would be followed by "demerger, transfer, and vesting of V18 Undertaking from Digital 18 into Star India."

Merger is will create Rs 70,000 crore company

The merger of the media assets of Reliance Industries and The Walt Disney Co. will create the country's largest media empire worth over Rs 70,000 crore.

Earlier, the CCI had said it had cleared the "proposed combination involving Reliance Industries Ltd, Viacom 18 Media Pvt Ltd, Digital 18 Media Ltd, Star India Pvt Ltd and Star Television Productions Ltd, subject to the compliance of voluntary modifications".

Viacom18 is part of the RIL group, and SIPL is wholly owned by The Walt Disney Company. STPL, a company incorporated in the British Virgin Islands, is owned indirectly by Walt Disney.

CCI didn't disclose original deal

The CCI, however, did not disclose voluntary modifications in the original deal made by the two parties.

Under the deal, Mukesh Ambani-led RIL and its affiliates will hold 63.16 per cent of the combined entity that will house two streaming services and 120 television channels.

Walt Disney will hold the remaining 36.84 per cent stake in the combined entity, which will also be India's largest media house.

Rs 11,500 crore investment

Reliance Industries has also agreed to invest close to Rs 11,500 crore into the joint venture to give it the muscle to fight rivals like Japan's Sony and Netflix.

Nita Ambani, wife of billionaire and RIL Chairman Mukesh Ambani, will head the joint venture, while Uday Shankar will be the vice-chairperson.

Almost twice as tall as Big Ben, Indian billionaire Mukesh Ambani’s $4.8 billion 27-story skyscraper home has a snow room whose walls blow artificial snowflakes to beat the heat. Antilia even has a mammoth 80-seater home theater with snack and wine-tasting rooms.

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• Nita Ambani Seen In Her New Pink Rolls Royce For the 1st Time [Video] Nita Ambani Seen In Her Ne...

Nita Ambani Seen In Her New Pink Rolls Royce For the 1st Time [Video]

Written By: Ajeesh Kuttan Ajeesh specializes both in bikes and cars, delivering timely news reports and excelling in video production.

Ajeesh specializes both in bikes and cars, delivering timely news reports and excelling in video production. (Full bio)

Published: Apr 10, 2024, 12:38 IST

Updated: Apr 10, 2024, 13:13 IST

The Ambanis have a huge collection of expensive and exotic cars. They keep on updating their garage from time to time. One of the recent additions to their garage was the pink-colored Rolls-Royce Phantom VIII EWB. The car was spotted at a petrol station in Mumbai, and a convoy of security vehicles was also seen around it. Here we have a video where Nita Ambani is seen traveling in her new Rolls-Royce for the first time.

  View this post on Instagram   A post shared by Automobili Ardent India (@automobiliardent)

The video has been shared by Automobili Ardent on their Instagram page. In this video, we see Nita Ambani’s Rolls-Royce Phantom VIII EWB in a very unique shade of pink passing through a road in Mumbai. The video was recorded at night, and the color of the car looks extremely good in the dark.

Surprisingly, the cabin of Nita’s Rolls-Royce is clearly visible, and we can also see her sitting in the rear seat. The driver slowly drives the car over a speed bump. The security officer sitting in the co-passenger seat can be seen looking at the car spotter or photographers who were recording the video.

We see a Toyota Fortuner, Range Rover Vogue, Mahindra XUV500, Scorpio, and MG Gloster SUV as security vehicles around the Rolls-Royce. The video has already garnered over 60,000 views and over 4,000 likes. Some of the Instagram users were surprised to see the cabin lights on in the Rolls-Royce. One of them wrote, “Why are the lights inside the Rolls-Royce on? Do they prefer it that way? I’ve never seen it on any of their other cars.”

One of the users wrote that it is possible that the starlight roof liner in the Rolls-Royce, which has several tiny LEDs that create a night sky light effect inside the cabin, might have been turned on, and that could have been the reason why we were able to see Nita sitting in the rear seat.

Nita Ambani has opted for a Rose Quartz shade, which is the exact name of the pink shade seen here on the car, and Orchid Velvet interiors. The interiors have also been customized, and it even gets Nita’s initials (NMA) embroidered on it. The Phantom VIII EWB is powered by a 6.75-liter V12 twin-turbocharged petrol engine. This engine generates a maximum of 571 Bhp and 900 Nm of peak torque. The engine is mated to an automatic transmission, and the power is sent to the rear wheels.

  View this post on Instagram   A post shared by kunal jadhav (@jk_991.2)

The Rolls-Royce Phantom is the flagship sedan or model from the British car manufacturer. Like all other models from the manufacturer, comfort is one of those factors that is given priority here. The exterior color and the interiors are both done as per customer request.

The price for the Rolls-Royce Phantom VIII EWB starts at Rs 12 crore, ex-showroom. As Nita Ambani has opted for several customizations, the price of the car is definitely much more than this.

It is definitely one of the most expensive cars in Jio Garage. We still have no idea whether the Rolls-Royce is armored or not. Mukesh Ambani usually travels in armored vehicles for security reasons. She received a Rolls-Royce Cullinan Black Badge SUV as a gift from Mukesh Ambani last year.

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Nita and Akash Ambani join Viacom18 board ahead of merger with Disney

Others joining the board are james murdoch, mohammed ahmed al-hardan, jyoti deshpande, and shuva mandal.

Ahead of the much anticipated merger of Reliance Industries' (RIL) Viacom18 and Walt Disney's Star India, Founder and Chairperson of Reliance Foundation and a Board member of Reliance Industries Nita Ambani and her son Akash Ambani have joined the board of Viacom18, a media company owned by RIL and Bodhi Tree Systems, as per sources. 

The appointments of Nita and Akash, who is the chairman of Reliance Jio Infocomm, arrive at a pivotal moment and is a key step in the merging process of these major media entities.

According to sources, other people joining the Viacom18 board are James Murdoch, co-promoter of Bodhi Tree Systems; Mohammed Ahmed Al-Hardan, head of technology, media, and telecom at the Qatar Investment Authority (QIA), a key investor in Bodhi Tree; Jyoti Deshpande, president, media & content business at RIL, and Shuva Mandal, partner at Anagram Partners. 

Under the merger scheme approved by the National Company Law Tribunal (NCLT), Viacom18 will first transfer its assets to its wholly-owned subsidiary, Digital18, which will then transfer them to Star India in return for shares in the latter, effectively merging the operations of both companies under a unified structure.

The joint venture of Viacom18 and Walt Disney’s Star India is valued at Rs 70,352 crore (US$ 8.5 billion) on a post-money basis, excluding synergies. 

The JV will be controlled by RIL and owned 16.34% by RIL, 46.82% by Viacom18 and 36.84% by Disney. Disney may also contribute certain additional media assets to the JV, subject to regulatory and third-party approvals.

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Disney Star secures exclusive rights for T10 global tournaments

The matches will be broadcast over the next four months

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Disney Star has associated with T Ten Global - Zim Afro T10, US Masters T10, Abu Dhabi T10, and the newly launched Lanka T10. The matches will be broadcast over the next four months.

The two-year deal will see Disney Star deliver coverage in English and regional languages for the Indian audience as the T10 format continues to captivate cricket fans globally.

“We are delighted to associate with T Ten Global to bring the excitement of T10 cricket to millions of Indian fans,” said Harry Griffith, Head of Acquisitions & Syndication-Sports, Disney Star, “Cricket in India is a festival, and this collaboration will give fans another reason to celebrate. We are confident that T10 will captivate audiences with its fast-paced action and unmatched entertainment value.”

Nawab Shaji Ul Mulk, T Ten Global Sports Founder and Chairman, said, “We are very happy to welcome onboard Star Sports, who will be a big pillar of support for us as they will help take the sport to more fans across India. This association has the potential to become a game-changer for us, and Star Sports’ reach, coupled with dynamic cricket, is a very encouraging sign.”

Zee-Star $940 million arbitration: A precedent in the making?

As the dispute unfolds, experts believe the outcome could set new precedents for future sports rights deals, with both parties considering a settlement to avoid prolonged legal and financial turmoil

The ongoing $940 million arbitration between Star India and Zee Entertainment Enterprises Limited (ZEEL) over ICC TV rights is set to have significant implications for India’s sports broadcasting landscape. Star has accused Zee of breaching a sublicensing agreement for ICC TV rights, with analysts estimating that the dispute would result in annual losses of Rs 1,520 crore for ZEEL in FY25 . 

As the dispute unfolds, industry experts believe the outcome could set new precedents for future sports rights deals, with both parties considering a negotiated settlement to avoid prolonged legal and financial turmoil.

In August 2024, Star India initiated arbitration against Zee, seeking $940 million in damages for alleged non-compliance with their 2022 alliance agreement. This came after Zee reportedly missed a crucial payment of $203.56 million in December 2023, prompting Star to claim a breach of contract. Following this, Star terminated the agreement, leading to a flurry of legal actions and counterclaims.

According to Kushagra Sharma, partner at KP Associates, this dispute highlights the complex nature of high-value broadcasting rights agreements in India. “The outcome could significantly impact the sports broadcasting landscape and set precedents for future deals,” he said.

“In this case, both parties will likely explore all available legal and business options to protect their interests.”

Sharma suggests that both parties may ultimately benefit from exploring negotiated settlements to protect their interests and avoid protracted litigation. “The final outcome will depend on the specific contract terms, the nature of Star India's alleged non-compliance charge, and the quality of evidence presented by both parties. Given the high stakes and potential for protracted litigation, a negotiated settlement may be in both parties' best interests,” he shared.

Saurav Agrawal, an advocate at the Delhi High Court, notes that there will be significant financial implications for Zee. Agarwal highlighted that though Star India-Zee dispute would ultimately get resolved in arbitration, the incident will leave behind significant financial and business repercussions. “It is certainly not good for the businesses. Going forward the stakeholders should negotiate more commercially sound and workable terms, including creating windows for parties to come out of the agreement if the deal is not going well.” 

He also added that as regards the arbitration, it’s in its nascent stage and would take about two years. “Zee would surely be contending that termination was improper and may be making a counterclaim,” added Agarwal. 

In the immediate aftermath of Star's arbitration filing, ZEEL announced a series of investor meetings in Singapore from September 25 to 27, 2024. This move comes as part of their strategy to reassure investors and communicate their position amidst the turmoil. In a regulatory filing to the Securities and Exchange Board of India (SEBI), ZEEL has categorically refuted Star's claims, asserting their commitment to contest all allegations vigorously.

With their shares recently dropping 56% from a 52-week high, the ongoing dispute is expected to result in annual losses of Rs 1,520 crore for ZEEL in FY25, according to analysts, primarily due to high content costs and diminished sports ad revenue.

The dispute also comes at an interesting time, where Star is in the process of merging with Jio in an unprecedented merger in the media and entertainment sector, said Shri Venkatesh, Managing Partner, SKV Law Offices. He added that while it is too early to understand the outcome of the dispute; the quantum of the damages sought paired with the much-coveted ICC broadcasting rights being in the balance would mean Zee may face turbulent market reactions throughout the course of the dispute.

In a regulatory filing made to Securities and Exchange Board of India, Zee has stated its intent to contest “all unfounded claims by Star”, while categorically refuting the claims and assertions made by star. The LCIA Arbitral Tribunal is yet to determine if the company is liable in any manner. 

“We believe that the not-for-profit entity will pass an award considering it’s understanding of the dispute, which may or may not follow post-award proceedings. Given Zee’s previous statements saying, “sports as a strategy is not there for us.”, it would be in the interest of all parties to mediate and settle the dispute. However, given costs arising from the previously failed merger between Zee and Sony may mean trouble for the media giant,” said Venkatesh. 

ZEEL senior management to meet investors in Singapore from Sept 25-27

As per the company, these will be one-on-one and group meetings

Zee Entertainment Enterprises Limited (ZEEL) is set to engage in a series of one-on-one and group meetings with investors in Singapore from September 25 to September 27, 2024. The company notified the BSE on Friday. 

The intimation of investor meeting on BSE reads, “We wish to inform you that the senior management of the Company will be having multiple one to-one and group meetings with the investors from Wednesday, September 25, 2024 to Friday, September 27, 2024 in Singapore.”

This intimation follows Star India’s filing of a Statement of Case against Zee Entertainment , seeking $940 million in damages related to the terminated ICC TV rights deal. The case is currently ongoing in the London Court of Arbitration, where the agreement has been declared terminated.

However, ZEEL refuted all claims and assertions made by Star, including the demand for damages, as communicated to the Securities and Exchange Board of India (SEBI). The company remains committed to contesting these claims vigorously as the arbitration proceedings continue.

ICC TV rights deal: Zee refutes Star India claims seeking $940 mn in damages

Zee has said that it will contest all "unfounded claims by Star"

Star India has filed a Statement of Case against Zee Entertainment, seeking $940 million in damages over the terminated ICC TV rights deal.

The case is ongoing in the London Court of Arbitration where it was declared that the agreement has been terminated.

Zee has refuted the claims and assertions made by Star, including claims for the damages, the former informed the Securities Exchange Board of India.

Zee has also said that it will contest all "unfounded claims by Star".

Disney Star is seeking to renegotiate its substantial $3 billion media rights deal with the International Cricket Council (ICC) for the 2024-27 cycle. This comes in the wake of advertising revenue losses from the recent ICC Men’s T20 World Cup that held in the US and the West Indies. 

This August, Star India terminated its sub-licensing agreement with Zee Entertainment Enterprises Ltd (ZEEL) for the $1.5 billion ICC TV rights.

Disney-owned Star India had already initiated arbitration proceedings against ZEEL seeking damages for non-compliance with the terms of the alliance agreement dated August 26, 2022.

MIB grants 8 new licences to MSOs in a month

The total number of registered MSOs now stands at 850 as of August 31, 2024

The Ministry of Information and Broadcasting (MIB) has granted eight new licences to multi-system operators (MSOs) between August 5, 2024 and September 6, 2024. The total number of registered MSOs stands at 850 as of August 31, 2024.   These new licences include MSOs like Innolens Media and Broadcasting Pvt. Ltd, JDM Internet Solutions Pvt. Ltd., Deenet Services Pvt. Ltd., Omkar Digital Cable Network, Metrocast SSV Network Pvt. Ltd., Citynet Infra Pvt. Ltd, Ziggtv Pvt. Ltd, and Corpus Enterprises Pvt. Ltd..  During this period only one MSO Haldwani Digital Services Pvt. Ltd’s registration was surrendered of September 9, 2024.  As earlier reported by exchange4media, as of 31st December 2023, there were 998 MSOs registered with MIB . According to the data reported by MSOs and HITS operators, as of 31st December 2023, there were 11 MSOs & 1 HITS operator who have a subscriber base greater than one million with GTPL Hathway being the top player with the highest subscriber base of over 8 million subscribers.

DD Free Dish next e-auction: More slots, lower costs?

The pubcaster has already acquired additional spectrum and started the process of procuring the necessary equipment to operationalise it. These additional slots should be available in 4 to 6 months

The upcoming annual DD Free Dish auction for the next fiscal, typically held in January-February, may bring good news for broadcasters looking to bid for a slot on the pubcaster’s free-to-air DTH platform. According to highly placed sources, Prasar Bharati is planning to "significantly increase" the number of slots on DD Free Dish.

“The pubcaster has already acquired additional spectrum and has started the process of procuring the necessary equipment to operationalise it. In another 4 to 6 months, or at least by the time the next auction process begins, these additional slots will be available," said the source, on the condition of anonymity. The decision to expand slots comes on the heels of the high demand of DD Free Dish slots in previous auctions. In the annual e-auction of DD Free Dish MPEG-2 slots held in February 2024, 64 slots were sold, generating approximately Rs 1,157 crore. This was an 8% increase in revenue compared to last year’s Rs 1,071 crore. The February 2024 e-auction also marked the second consecutive year of revenue growth for Prasar Bharati, following a substantial 66% increase in 2023 compared to the previous year. Throughout the year, DD Free Dish auctions unsold slots on a pro-rata basis, but unfortunately, these auctions haven't attracted many bidders this year. For example, no broadcasters participated in the 79th e-auction of MPEG-2 slots for DD Free Dish held recently, primarily due to high pricing. Prasar Bharati had invited applications for the allotment of vacant MPEG-2 slots for the period of July 24, 2024, to March 31, 2025, through the 79th online e-auction. DD Free Dish slot categories are divided into various buckets, each with a different starting reserve price. Bucket A+ includes General Entertainment Channels (GEC) in Hindi, with a starting price of Rs 15 crore. Bucket A covers Hindi movie and teleshopping channels, starting at Rs 12 crore. Bucket B, priced at Rs 10 crore, includes Hindi music and sports channels, as well as all Bhojpuri language channels. Bucket C, reserved for Hindi news and current affairs channels, has a base price of Rs 7 crore. Bucket D, starting at Rs 6 crore, includes devotional, spiritual, and Ayush channels, along with Hindi channels from other genres and all Marathi, Punjabi, and Urdu channels. Lastly, Bucket R1, priced at Rs 3 crore, is designated for channels in languages not covered by other buckets. But will an increase in slots bring down prices? Perhaps yes. “The pubcaster has received feedback from broadcasters regarding their concerns about steep base prices and as a result the fierce competition. Prasar Bharati is aware of these issues and is looking at addressing them. Implementing these changes requires a formal policy update, which they are currently working on. The revised policy should be in place before the end of the calendar year,” sources told exchange4media. The pubcaster is exploring ways to make it more inclusive and accessible to a wider range of channels, particularly those from underrepresented regions. While there is no clarity on whether this would mean bucket enhancement, sources said that the pubcaster realises there are a large number of regional channels which are not adequately represented on DD Free Dish. “Prasar Bharati is devising a mechanism to encourage more channels to join Free Dish. Their policy teams are currently working on creating a policy environment that makes it worthwhile for these channels to participate on Free Dish,” the source added.

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Nita Ambani’s Rs 500 crore emerald-diamond necklace to Anant Ambani’s Rs 67.5 crore Patek Philippe watch — 9 insanely expensive jewels the Ambani family owns

The Ambani family is in celebratory mode, ahead of Mukesh Ambani and Nita Ambani’s youngest son Akash Ambani and Radhika Merchant’s big, fat Indian wedding . After two extravagant pre-wedding festivities, the couple will be tying the knot on July 12, 2024, at Jio World Centre in BKC, Mumbai. This will be followed by a puja on July 13 and a reception on July 14.

Mukesh Ambani — the richest man in India with a staggering net worth of Rs 9.6 lakh crore, according to Forbes — reportedly spent a humongous sum of money on the ultra-lavish pre-wedding festivities, which took place in Jamnagar and Italy, respectively. Anant Ambani and Radhika Merchant’s wedding is gearing up to be one of the most expensive weddings not just in India, but also across the world.

The Ambani family is known for their opulent lifestyle and the grandiose wedding celebrations are proof enough. But that's not all because the family also has a high-end, resplendent jewellery collection. Whether it be Nita Ambani’s exquisite emerald-diamond necklace worth Rs 500 crore or Anant Ambani’s envy-inducing Rs 200 crore+ watch collection including gorgeous Patek Philippe and Richard Mille, the list is mesmerizing, to say the least.

Here are 9 ultra-expensive jewels owned by the Ambani family:

For Anant Ambani and Radhika Merchant’s pre-wedding celebrations in Jamnagar, Nita Ambani donned an ivory gold saree which she accessorised with a gorgeous emerald-studded diamond necklace , matching flower-shaped earrings, bangles and rings. The gorgeous neckpiece comes with a steep price that ranges between Rs 400 and 500 crore, according to Free Press Journal.

The Ambani family is known for giving exorbitant gifts and their wedding present to their daughter-in-law Shloka Mehta takes the cake. Akash Ambani’s wife, who is a diamond heiress herself, was welcomed into the Ambanis with the most valuable necklace in the world — the Mouawad L’Incomparable. The 91-diamond neckpiece, which features a 407.48-carat Topaz diamond, is priced at Rs 451 crore, according to Times of India.

At the 71st Miss World 2024 Finals, Nita Ambani had everyone stop and stare at the gorgeous bajuband (armband) that she was wearing on her arm. According to Times of India, the regal piece of jewellery — made of gold and studded with rubies, diamonds, and spinels using the Pachhikakaam technique — is from the Mughal Era and was worn by Emperor Shah Jahan as a turban ornament. According to DNA India, the Mughal Era bajuband is valued at over Rs 200 crore.

Isha Ambani ’s intricate jewellery collection includes majestic pieces like her uncut-diamond necklace that’s worth a whopping $20 million (approximately Rs 167 crore), according to Times Now. The Reliance heiress had worn the choker-style dangling accessory twice — once at her pre-wedding celebrations and then again for NMACC’s grand opening.

Anant Ambani is an ardent luxury watch collector and Patek Philippe is probably his all-time favourite. The Reliance scion is the proud owner of a Patek Philippe GrandMaster Chime, which is the most complicated watch ever made by the iconic Swiss luxury brand. The aesthetic timepiece is steeply priced at Rs 67.5 crore.

The Patek Philippe Sky Moon Tourbillon is the second most complicated watch made by the Swiss luxury brand, and Anant Ambani possesses one such model. The glorious timepiece’s estimated price is Rs 54 crore.

During Anant Ambani and Radhika Merchant’s Jamnagar pre-wedding festivities , Nita Ambani accessorised her Rs 500 crore emerald-diamond neckpiece with a stunning 52.58-carat diamond ring. According to the Times of India, the precious rock is worth Rs 53 crore. Nita Ambani had worn the same ring at NMACC’s launch as well.

During Anant Ambani and Radhika Merchant’s engagement, Akash Ambani gifted his younger brother an 18K Panthère de Cartier brooch — featuring 606 uncut diamonds, 51 sapphires and two emeralds. According to the Economic Times, the regal brooch costs Rs 13.2 crore.

Nita Ambani gifted her daughter-in-law Radhika Merchant an elegant neckpiece from her own collection; a beautiful pearl and diamond multi-string choker, that the former had once worn for Sonam Kapoor and Anand Ahuja’s wedding reception. Radhika Merchant adorned her mother-in-law’s precious gift at Mukesh Ambani’s niece Isheta Salgaocar’s cocktail bash. The exact price of the unique jewel is not known.

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