Punit Goenka spoke to BS on everything - from his worries to growth challenges
Having built network dominance, the broadcaster shifts focus to generating new revenue drivers
In October last year, ZEEL entered into a definitive agreement to acquire 9X Media and INX Music for an all cash consideration of Rs 1.6 bn
Advertising revenue growth expected to be a strong 20% in March quarter and 14% in CY18
A global offering, the service will house library content form TV and films, and originals with features like browsing/search in 11 languages and voice-enabled search
Firm has maintained revenue and subscription growth targets for FY18
Zee Entertainment Enterprises standalone net profit rises 5.89% in the September 2017 quarter
Zee Entertainment Enterprises consolidated net profit rises 147.82% in the September 2017 quarter
Punit Goenka led Zee Entertainment Enterprises Limited (ZEEL) has entered a definitive agreement to acquire 9X Media and its subsidiaries from Rivendell PE LLC (earlier known as New Silk Route) and the other shareholders through an all cash transaction amounting to Rs 160 crore. With this, ZEEL strengthens its music portfolio significantly. Currently, the network has Zing, a youth and music channel. Originally launched in the 1997 as Music Asia, the channel was then relaunched as Zee Music in 2000. In 2009 however, it underwent yet another name change and became Zing. In 2014, ZEEL re-positioned it from a music channel to a youth and music channel, a positioning it retains till date. 9X Media operates five music channels - 9XM (Hindi), 9X Jalwa (Hindi), 9X Jhakkas (Marathi), 9XO (English) and 9X Bajao (Hindi). The acquisition also includes INX Music, a 70.85 per cent subsidiary of 9XM engaged in the business of broadcasting a Punjabi music channel 9X Tashan. Besides significantly ...
Besides, the company has also bought remaining 26 per cent stake in Zee Turner Ltd for Rs 2.6 lakh, a 74 per cent subsidiary of the company
Advertising revenue growth below estimates in quarter as advertisers cut spends due to GST uncertain
Zee Bollymovies and Zee Bollynova will broadcast on Africa's Kwese TV
Lower ratings and slowing ad revenue growth following the note ban point to muted outlook for FY17
This now enables ZEE provide an extensive media solution to its partners through television, radio and digital media
The stock up 3% to Rs 544 after the company announced the sale of sports broadcasting biz to Sony for USD385 million.
Move will lead to higher operating-profit margins
After denying any talks of sale, the company said it is in advanced talks to sell the sports business
Ten Sports was bought by Zee Entertainment from Dubai based Abdul Rahman Bukhatir's Taj Group in 2006
The stock hit a high of Rs 493.65 in intraday trade so far, which is 52-week high for the counter
Consolidated revenue increased 18% to Rs 1,571 cr