A joint study by the Federation of Indian Chambers of Commerce and Industry (FICCI) and KPMG estimated that the media and entertainment industry will grow at 12.5 percent over the next five years to cross the Rs 1,00,000-crore mark by 2013. The report showed that it grew 15 percent annually since 2006 into an $11.68-billion industry in
2008.
The Study says: "In many ways, 2008 was a testing time for the industry. With the global economic slowdown affecting advertising spends, sectors like TV, print, radio and outdoor that depend on advertising revenues were affected."
The ongoing BCCI-Sony controversy, over sponsorship deals for IPL matches, paves a way for resignation of Sony Entertainment CEO, Kunal Dasgupta. BCCI, while tightening noose around Sony, also threatened to terminate the broadcaster's IPL rights if its losses are not met by the broadcaster. BCCI believes that deal of Airtel with Sony is the main reason for walked out of Reliance-ADAG, leading large scale revenue loss to the cricket control body.
Taipei - Hong Kong's English-language daily the South China Morning Post plans to launch a bilingual newspaper in Taiwan in response to growing ties between China and Taiwan, a newspaper said on Sunday.
In a significant move, Sri Lanka Cricket has announced that it has granted the worldwide rights to broadcast India's upcoming cricket tour of Sri Lanka to the Nimbus Sports International. The Singapore-headquartered global sports management company will also be producing the television coverage for the series which will be broadcast worldwide. Neo Cricket will air these matches. 
Media and entertainment firm Zee Entertainment Enterprises (ZEEL) has announced financial results for the third quarter ended December 2008 reporting 26% decline in its consolidated net profit, which stood at Rs 83.97 crore, as against Rs 113.47 crore for the same quarter, a year ago.
Stock market analysts have maintained ‘buy’ rating on Entertainment Network stock with a short term target of Rs 191. 
