Television

×

ZEEL acquires balance 26% equity stake in Zee Network Distribution

Zee Network Distribution Ltd has now become a wholly-owned subsidiary from 9 August

http://www.indiantelevision.org.in/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2019/08/14/zeel.jpg?itok=7T_ofGNe

MUMBAI: Zee Entertainment Enterprises Ltd (ZEEL) has acquired the balance 26 per cent equity stake in Zee Network Distribution Ltd. The company informed the Bombay Stock Exchange about the development in a letter.

“In this regard, we wish to inform you that, upon completion of all conditions precedent including inter alia change of name of the subsidiary after removing the word 'Turner' to Zee Network Distribution Ltd, the company has concluded the said acquisition and accordingly, Zee Network Distribution Ltd has now become a wholly-owned subsidiary on and from 9 August 2019,” the company said in it.

Zee Network Distribution Ltd was incorporated on 20 December 2001 as a joint venture entity between ZEEL and Turner International India Private Ltd (Turner) for engaging in the business of distribution of television channels of Zee Network and Turner Group.

“The channel distribution business in the recent past was shifted to various entities and is currently housed under the company directly since 2016 and consequently there have been no active operations of ZNDL since last few years, except for holding 50 per cent equity stake in Zee-Star distribution joint venture 'Media-pro Entertainment Private Ltd’ (Mediapro), which discontinued the distribution business in 2014,” the company stated.

“In view of this, the joint venture partners had mutually agreed to terminate the joint venture agreement with the acquisition of Turner's equity stake of 26 per cent (26,000 shares of Rs 10  each) in ZNDL by the company at par value aggregating to Rs 260,000/-, thereby making ZNDL a wholly-owned subsidiary of the company,” the letter added.

Latest Reads

http://www.indiantelevision.org.in/sites/default/files/styles/340x340/public/images/tv-images/2019/08/20/barc.jpg?itok=EIPAydVG
BARC week 32: Kashmir, Article 370 abrogation pushes English news ratings up

Abrogation of Article 370 and the presentation and passage of The Jammu and Kashmir Reorganisation Act, 2019 in the parliament on 5 August and 6 August 2019 respectively was a big booster for news across all media.

Television TV Channels Viewership
http://www.indiantelevision.org.in/sites/default/files/styles/340x340/public/images/tv-images/2019/08/19/colors_bangla.jpg?itok=9aSV1hhw
BARC week 32: Colors Bangla enters top five

MUMBAI: In week 32 of BARC India ratings, Colors Bangla has entered the top five Bangla channels table at fifth position. The channel has replaced Zee Bangla Cinema which was at fourth position last week. B4U Bhojpuri also grabbed first position in the top five Bhojpuri channels list whereas...

Television TV Channels Viewership
http://www.indiantelevision.org.in/sites/default/files/styles/340x340/public/images/tv-images/2019/08/19/BARC_8.jpg?itok=MwdZqm1r
BARC week 32: SET bags third position in urban, Zee TV slips to fifth position

MUMBAI: In week 32 (3 August to 9 August) of BARC India ratings, Hindi GEC Sony Entertainment Television has moved to third position from fourth in the last week in urban HSM with 360719 weekly impressions (000s). The channel continues to hold its seventh position in rural HSM and fifth position on...

Television TV Channels Viewership
http://www.indiantelevision.org.in/sites/default/files/styles/340x340/public/images/tv-images/2019/08/19/mttd.jpg?itok=osK-1bYA
MTV breaks notions with concept-based marketing, redefines content marketing

Mumbai: Adhering to its promise of being India’s No. 1 youth entertainment brand, MTV brings to its audience some clutter breaking concept based campaigns for its recently launched shows - JBL presents MTV Hustle powered by Breezer Vivid live life in color and styling partner Philips one blade, MTV...

Television TV Channels Music and Youth
http://www.indiantelevision.org.in/sites/default/files/styles/340x340/public/images/tv-images/2019/08/19/soorma01.jpg?itok=VNVPpLsb
Lex Sportel Vision to launch India's first Indigenous Pro Wrestling Show 'WIN Dangal ke Soorma'

Gurgaon based Lex Sportel Vision announced the launch of India’s first Indigenous Pro Wrestling Show titled, ‘WIN (Wrestle India Network) Dangal ke Soorma’. The 12 episode series will feature 21 elite Indian Pro-Wrestlers taking on International Wrestling stars and will be broadcast on DSPORT from...

Television TV Channels Sports
http://www.indiantelevision.org.in/sites/default/files/styles/340x340/public/images/tv-images/2019/08/19/News%20Nation.jpg?itok=r5EASkkw
News Nation strengthens distribution foothold with appearance on Sun Direct

News Nation Network Private Limited has further strengthened its distribution foothold with appearance on Sun Direct, one of the leading DTH service providers across India.

Television TV Channels News Broadcasting
http://www.indiantelevision.org.in/sites/default/files/styles/340x340/public/images/tv-images/2019/08/19/Kanchana3.jpg?itok=PBDfU8JP
Zee Telugu to premiere blockbuster Horror - Comedy 'Kanchana 3' on August 25

We all have heard stories of supernatural powers disrupting lives but what if the same power adds a twist that sets everything right? Zee Telugu is all set to entertain your entire family this weekend, with the showcase of the World Television Premiere of ‘Kanchana 3’ on Sunday, 25th August 2019 at...

Television TV Channels GECs
http://www.indiantelevision.org.in/sites/default/files/styles/340x340/public/images/tv-images/2019/08/19/balajite.jpg?itok=KPeQmaD1
Balaji Telefilms aims to break even consolidated business by end of FY20

Balaji Telefilms Ltd (Balaji Telefilms) is hoping to break even its consolidated business by the end of the ongoing financial year. While the recent partnership of its digital arm ALTBalaji with ZEE5 will work as a key contributing factor, good movies and better cost control environment for...

Television Production House Fiction
http://www.indiantelevision.org.in/sites/default/files/styles/340x340/public/images/tv-images/2019/08/16/times_networkm.jpg?itok=K608WdhD
Times Network reduces Mirror Now MRP, launches new bouquet for English movie channels at Rs 10

MUMBAI: Times Network has revised the MRP of Mirror Now and introduced a new bouquet of three channels Romedy Now, Movies Now and MNX at Rs 10. According to the new Reference Interconnect Offer (RIO), the broadcaster has reduced the MRP of news channel Mirror Now to Rs 0.5 from Rs 2.

Television TV Channels English Entertainment

Sign up for our Newsletter

subscribe for latest stories