Misplaced Pages

This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. Find sources: "Zee Entertainment Enterprises" – news · newspapers · books · scholar · JSTOR (November 2023) (Learn how and when to remove this message)

Zee Entertainment Enterprises Limited

Company type	Public
Traded as	BSE: 505537 NSE: ZEEL
Industry	Mass media Entertainment
Founded	15 December 1991; 33 years ago (1991-12-15)
Founder	Subhash Chandra
Headquarters	Mumbai, Maharashtra, India
Area served	Worldwide
Key people	Subhash Chandra (Chairman) Punit Goenka (CEO)
Products	Broadcasting, films, music, streaming, web portals
Revenue	₹2,112 crore (US$250 million) (2022)
Net income	₹−196 crore (US$−23 million) (2022)
Total assets	₹13,239 crore (US$1.6 billion) (2022)
Number of employees	3,429 (2021)
Parent	Essel Group
Website	zee.com
Footnotes / references

Zee Entertainment Enterprises (ZEEL) (formerly Zee Telefilms) is an Indian media conglomerate. Headquartered in Mumbai, it has interests in television, print, internet, film, and businesses related to mobile content, and operates 45 channels worldwide.

History

Independent era

In April 1995, the company launched the premium movie channel Zee Cinema, the first channel of its sort in the country. Until 1999, programming was done by Star TV. In the following years Zee Cinema has also catered to international markets like South-East America, Europe, Middle East, North Africa, Pakistan, Indonesia and Asia Pacific and the Rest of Africa. Zee Cinema (Canada) is available in Canada as a joint ventures with Ethnic Group.

Zee Telefilms launched a Nickelodeon-branded programming block in 1999 as part of a distribution deal between Viacom International and Zee Telefilms. It was replaced by a new Cartoon Network block in 2002.

In 2008, Zee Networks launched Zee Motion Pictures and Zee Limelight (now Zee Studios) for the development, production, distribution and marketing of mainstream films in Indian languages, including Hindi, Malayalam, Tamil, Telugu, Kannada, Bengali and Marathi.

In 2015, Zee acquired Sarthak TV, an Odia-language pay television channel.

In 2017, the company acquired the majority stake of the Reliance Broadcast Network. It also planned to acquire 9X Media in October 2017 for the cost of ₹160 crore, however, the plan fell through in March 2018. A partially-owned subsidiary, Diligent Media Corporation, is a publisher of Indian daily newspapers and websites. DMC is a joint venture between Zee and the Dainik Bhaskar Group.

In 2018, Zee launched Zee Theatre, which offers a collection of recorded theatre plays also called teleplay- produced in India and internationally.

Sale talks

In February 2019, media reported that Essel Group was in talks to sell their shares from the Zee Entertainment Enterprises to save them from debt.

Top Sony officials including Mike Hopkins, chairman of Sony Pictures Television, and Tony Vinciquerra, chairman of Sony Pictures, had visited Subhash Chandra and his family at his residence shortly after Chandra announced his intent to sell half of the promoter holding in Zee Entertainment Enterprises to a global strategic investor.
On 2 April reports said that some other promoters were willing to sell their shares worth ₹332 crore.
On 3 April media reported Sony and Zee Entertainment Enterprises deal off amid valuation differences which opened the door for Comcast-Atairos.

On 1 August media reports Invesco Oppenheimer Fund to buy 11% stake in Zee Entertainment.

In September 2021, it was reported that Invesco Developing Markets Funds and OFI Global China Fund LLC, who jointly holds a 17.88% stake, wanted Punit Goenka (also the son of founder) to step down as MD and CEO. It was also reported that Essel Group owns a sum of 3.99% minority stake.

In 2024, Zee Entertainment Enterprises partnered with Sony Pictures Entertainment.

Attempted merger with Sony Pictures Networks India

On 22 September 2021, the company announced its intent to merge with Sony Pictures Networks India. Sony Pictures will hold a majority stake in the proposed merged entity, which will be headed by Zee's Punit Goenka. In December 2021, the merger was approved by the two companies boards. Sony will hold a stake close to 51% in the company, with Zee controlling the remaining stake.

On 10 August 2023, the National Company Law Tribunal approved the proposed Sony/Zee merger.

On 18 January 2024, the anticipated $10 billion merger between Zee Entertainment Enterprises and Sony Pictures India progressed as ZEE's stock increased amid reports that CEO Punit Goenka might step down, potentially resolving a major deadlock in the merger process. However, on 22 January 2024, Sony Pictures Networks India issued a notice to Zee Entertainment Enterprises effectively terminating the merger proceedings due to, among other reasons, the closing conditions to the merger not being satisfied by the given deadline of January 21.

Controversy

Dispute between promoters

On 11 September 2021, Invesco asked Zee management to call shareholders an "extraordinary general meeting" (EGM) to consider its demands. One of the main demands was the removal of Punit Goenka, son of the Zee Network founder. However Zee board rejects a demand from Invesco to convene an extraordinary general meeting. Invesco Developing Market Funds Moves to National Company Law Tribunal (NCLT) and Bombay High Court seeking a mandatory order for Zee Enterprises Entertainment Limited (ZEEL) to call the extraordinary general meeting (EGM) that the shareholder has been demanding.

On 11 October 2021 Invesco write an open letter to the other shareholders saying they are disappointed that the leadership of Zee has resorted to a reckless public relations campaign in response to the overwhelming demand from shareholders for leadership changes at Zee network. also, they implemented that they tried to merge Zee with some other Indian company in early 2021 but the Zee board rejected it.

Zee Board replied to Invesco's open letter saying they didn't care about the company, and Invesco is not motivated by concerns related to any corporate governance issue but "by the events that transpired during February–April 2021 pointing Invesco purposed deal with Reliance Industries.

On 21 October, Bombay High Court asks the Zee board to call EGM as demanded by shareholder Invesco, and Counsel appearing for Zee Entertainment said the company will inform the date of the EGM by the morning of October 22.

On 22 October, Zee replied to the court that the board can't give a nod to something that will turn out to be illegal. so HC postponed hearing of the Zee-Invesco matter to October 26.and on October 26 Bombay High Court has restrained Invesco from taking any action in furtherance of their requisition notice (to call an EGM).

On 7 December, Invesco headed towards a resolution expected to back the merger deal with Sony as long as the Goenka family does not get any preferential equity.

On 22 December, Board of Zee signed definitive agreements with Sony after received approval from its board of directors

Zee Music vs Sonu Nigam

Sonu Nigam alleged that he was banned by the Zee Music Company after he tweeted in support of politician Kumar Vishwas.

Owned Channels

India

International

Defunct channels and networks

India

International

Over The Top (OTT)

In February 2016, Zee Entertainment Enterprises forayed into video-on-demand with the launch of its OTT platform OZEE.

On 14 February 2018, this service rebranded as ZEE5. Since its relaunch as ZEE5, it streams all content from its television network and also movies and original series. ZEE5 claimed 57 million monthly active users in December 2019.

Other assets

Publishing

• bgr
• Mollywood
• cricket country
• The health site
• India.com
• Sugarbox
• Zee5X

Event management

• Zee Live
• Super moon, Arth, Edu care, It's A Girl Thing
• Zee Theatre

Film distribution and music

• Zee Studios
• Zee Plex (movie-on-demand service)
• Zee Music Company

References

1. Malvania, Urvi (24 August 2016). "We want to Transform into an all-round media company punit goenka". Business Standard. Archived from the original on 26 August 2016. Retrieved 22 July 2017.
2. ^ "Zee Ent reports net loss of ₹196 cr in Q4, revenue down 9%; key highlights". 25 May 2023.
3. "Zee's FY19 earnings may aid better valuation". www.fortuneindia.com. 6 May 2019. Archived from the original on 22 May 2021. Retrieved 24 December 2020.
4. "Zee Cinema celebrates 20 years of winning hearts". Tellychakkar.com. Retrieved 18 August 2023.
5. "Zee Entertainment Enterprises History". The Economic Times. Archived from the original on 25 July 2021. Retrieved 26 February 2020.
6. ^ Singh, Suhani (21 August 2017). "Entertainment Inc.: The story of Zee, one of India's first Hindi satelite [sic] channels". India Today. Archived from the original on 12 March 2018. Retrieved 26 February 2020.
7. "Star TV sells, Zee consolidates". domain-b.com. 25 September 1999. Retrieved 11 July 2012.
8. "Zee Cinema launched in Indonesia". www.Zee.com.
9. "ZEE TV TO LAUNCH NICKELODEON". 11 October 1999. Archived from the original on 23 March 2017. Retrieved 21 June 2017.
10. "Cartoon Network block replaces Nick on Zee TV". 14 August 2002. Archived from the original on 2 September 2017. Retrieved 19 September 2017.
11. "Zee Group launches two motion picture production banners". Business of Cinema. 2008. Archived from the original on 7 November 2017. Retrieved 2 November 2017.
12. "Zee Entertainment acquires Sarthak Entertainment - Exchange4media". Indian Advertising Media & Marketing News – exchange4media. Archived from the original on 25 October 2021. Retrieved 6 September 2021.
13. Bindu D Menon (23 November 2016). "Zee buys Anil Ambani's TV, radio biz for ₹1,900 cr | Business Line". Thehindubusinessline.com. Retrieved 23 November 2017.
14. "Zee to acquire 9X Media, its arms for ₹160 cr". The Hindu Business Line. 6 October 2017. Retrieved 18 November 2017.
15. "ZEE terminates 9X Media acquisition". Archived from the original on 23 May 2021. Retrieved 23 May 2021.
16. "Indian Newspapers and News Sites". w3newspapers.com. Archived from the original on 7 April 2021. Retrieved 18 October 2014.
17. IANS (10 January 2017). "Zee Theatre to take 12 plays to 15 Indian cities". Business Standard India. Archived from the original on 2 October 2022. Retrieved 2 October 2022.
18. ^ Laghate, Gaurav; Barman, Arijit. "Zee Entertainment: Comcast-Atairos, Sony shortlisted for stake sale talks by Zee Entertainment". The Economic Times. Archived from the original on 3 April 2019. Retrieved 3 April 2019.
19. "Zee Entertainment shares wobble after share sale by promoters". The Economic Times. Archived from the original on 3 April 2019. Retrieved 3 April 2019.
20. "Zee Entertainment Down 3% After Promoters Sell Stake". Moneycontrol. 2 April 2019. Archived from the original on 3 April 2019. Retrieved 3 April 2019.
21. Laghate, Gaurav; Barman, Arijit. "Sony Corporation: Sony, ZEE deal off for now amid valuation differences". The Economic Times. Archived from the original on 3 April 2019. Retrieved 3 April 2019.
22. Thomas, Tanya (31 July 2019). "Invesco Oppenheimer fund to buy 11% stake in Zee Entertainment for ₹4,224 cr". www.livemint.com. Archived from the original on 6 September 2021. Retrieved 6 September 2021.
23. "Investors want MD Punit Goenka out of Zee Entertainment Enterprises - the New Indian Express". Archived from the original on 10 October 2021. Retrieved 10 October 2021.
24. "Sony on the Hunt for Indian Partner After Zee Deal Fades". Bru Times News.
25. "Sony Pictures India to Merge With Zee Entertainment". The Hollywood Reporter. Archived from the original on 22 September 2021. Retrieved 21 September 2021.
26. "Zee Entertainment Approves In-principle Merger With Sony Pictures India". Moneycontrol. 22 September 2021. Archived from the original on 21 October 2021. Retrieved 21 October 2021.
27. "Sony Pictures Networks, Zee Complete Merger to Create Indian TV Giant". Variety. 22 December 2021. Archived from the original on 22 December 2021. Retrieved 22 December 2021.
28. Ramachandran, Naman; Frater, Patrick (10 August 2023). "Sony-Zee TV Mega Merger in India Is Given Green Light". Variety. Archived from the original on 20 August 2023. Retrieved 7 October 2023.
29. "ZEE-Sony merger: ZEEL stock surges as Goenka on expectations Goenka may step down as CEO | Know more". News9live. 18 January 2024. Retrieved 18 January 2024.
30. Frater, Patrick; Ramachandran, Naman (22 January 2024). "Sony Calls Off $10 Billion Merger With Indian TV Giant Zee Entertainment Enterprises". Variety. Retrieved 22 January 2024.
31. "Zee Entertainment's Largest Shareholders Call EGM Seeking Removal Of Punit Goenka From Board". Moneycontrol. 13 September 2021. Archived from the original on 21 October 2021. Retrieved 21 October 2021.
32. "Zee Says Will Not Hold EGM As Demanded By Shareholder Invesco". Moneycontrol. October 2021. Archived from the original on 21 October 2021. Retrieved 21 October 2021.
33. "Zee-Invesco NCLT Hearing: Invesco Says NCLT Must Make A Mandatory Order To Call EGM". Moneycontrol. 4 October 2021. Archived from the original on 21 October 2021. Retrieved 21 October 2021.
34. Chatterjee, Sudipto Dey & Dev (4 October 2021). "Prolonged battle ahead as ZEE Entertainment takes Invesco to court". Business Standard India. Archived from the original on 21 October 2021. Retrieved 21 October 2021.
35. "Invesco Shoots Letter To Zee Shareholders, Seeks Better Governance, Says Founding Family Benefiting At The Cost Of Others". Moneycontrol. 11 October 2021. Archived from the original on 21 October 2021. Retrieved 21 October 2021.
36. "Zee Hits Back At Invesco's Open Letter, Rebuts Objections On Sony Merger Deal". Moneycontrol. 13 October 2021. Archived from the original on 21 October 2021. Retrieved 21 October 2021.
37. "Invesco Proposed Merger With Large Indian Group In Feb 2021, Wanted Punit Goenka To Lead: Zee". Moneycontrol. 12 October 2021. Archived from the original on 21 October 2021. Retrieved 21 October 2021.
38. "Bombay HC Asks Zee To Call EGM As Demanded By Shareholder Invesco". Moneycontrol. 21 October 2021. Archived from the original on 21 October 2021. Retrieved 21 October 2021.
39. Upadhyay, Payaswini (21 October 2021). "Zee Vs Invesco: Bombay High Court Proposes To Allow EGM, But..." BloombergQuint. Archived from the original on 21 October 2021. Retrieved 21 October 2021.
40. "Zee-Invesco Row: Zee Argues Holding EGM Is Illegal, Bombay HC To Hear The Matter On October 26". Moneycontrol. 22 October 2021. Archived from the original on 23 October 2021. Retrieved 23 October 2021.
41. "Zee-Invesco Row: A Look At What Happens Next After Bombay HC Bars Invesco From Calling EGM". Moneycontrol. 26 October 2021. Archived from the original on 27 October 2021. Retrieved 27 October 2021.
42. Kar, Ayushi (5 December 2021). "Invesco to back Zee-Sony deal as long as Punit Goenka is not given PE". @businessline. Archived from the original on 7 December 2021. Retrieved 7 December 2021.
43. "Zee-Sony Merger Approved, Punit Goenka Will Be CEO Of Merged Entity". NDTV.com. 22 December 2021. Archived from the original on 23 December 2021. Retrieved 23 December 2021.
44. "ABP Live - English News, Today's Latest Breaking News in English, Online English News". Archived from the original on 1 May 2015. Retrieved 29 April 2015.
45. "News18.com: CNN News18 Latest News, Breaking News India, Current News Headlines". Ibnlive.in.com. Archived from the original on 1 May 2015. Retrieved 16 July 2017.
46. "Sonu Nigam accuses music company of announcing ban on him". India Today. 29 April 2015. Archived from the original on 9 October 2018. Retrieved 8 October 2018.
47. Pai, Vivek (26 February 2016). "Zee Digital launches online streaming platform OZEE". MediaNama. Archived from the original on 11 October 2021. Retrieved 11 October 2021.
48. Ahluwalia, Harveen (14 February 2018). "Zee Entertainment launches new video streaming platform Zee5". mint. Archived from the original on 11 October 2021. Retrieved 11 October 2021.
49. "ZEE5 maintains momentum with 56.3 mn MAU in third quarter". Indian Television Dot Com. 15 January 2019. Archived from the original on 13 September 2020. Retrieved 11 October 2021.
50. "Platforms – Digital – ZEE Entertainment Corporate Website". www.zee.com. Archived from the original on 11 October 2021. Retrieved 11 October 2021.
51. "Businesses – Live Entertainment – ZEE Entertainment Corporate Website". www.zee.com. Archived from the original on 11 October 2021. Retrieved 11 October 2021.
52. "ZEE Studios sets November 11 for the theatrical release of their next Punjabi film Fuffad Ji". EasternEye. 28 September 2021. Archived from the original on 11 October 2021. Retrieved 11 October 2021.
53. "POPUP". helpcenter.zee5.com. Archived from the original on 11 October 2021. Retrieved 11 October 2021.
54. Joseph, Anto T. (22 January 2021). "How a cruise business landed Zee's Subhash Chandra in uncharted waters". Newslaundry. Archived from the original on 11 October 2021. Retrieved 11 October 2021.

External links

• Official website

v t e NIFTY 50 companies of India

Adani Enterprises Adani Ports Apollo Hospitals Asian Paints Axis Bank Bajaj Auto Bajaj Finance Bajaj Finserv Bharat Electronics Bharat Petroleum Bharti Airtel Britannia Cipla Coal India Dr. Reddy's Eicher Motors Grasim HCLTech HDFC Bank HDFC Life Hero MotoCorp Hindalco Hindustan Unilever ICICI Bank IndusInd Bank Infosys ITC JSW Steel Kotak Mahindra Bank Larsen & Toubro Mahindra & Mahindra Maruti Suzuki Nestlé India NTPC ONGC Power Grid Reliance SBI SBI Life Shriram Finance Sun Pharma TCS Tata Consumer Tata Motors Tata Steel Tech Mahindra Titan Trent UltraTech Cement Wipro

v t e NIFTY 200 companies

NIFTY 200

NIFTY 100 NIFTY 50 Adani Enterprises Adani Ports Apollo Hospitals Asian Paints Axis Bank Bajaj Auto Bajaj Finance Bajaj Finserv BEL Bharat Petroleum Bharti Airtel Britannia Cipla Coal India Dr. Reddy's Labs Eicher Grasim HCLTech HDFC Bank HDFC Life Hero MotoCorp Hindalco HUL ICICI Bank IndusInd Bank Infosys ITC JSW Steel Kotak Mahindra L&T M&M Maruti Suzuki NTPC Nestlé ONGC Power Grid Reliance SBI Life SBI Shriram Finance Sun Pharma Tata Consultancy Services Tata Consumer Products Tata Motors Tata Steel Tech Mahindra Titan Trent UltraTech Wipro NIFTY Next 50 ABB India Adani Energy Solutions Adani Green Energy Adani Power Ambuja Cements Bank of Baroda BHEL Bosch Canara Bank Cholamandalam Dabur Divi's Labs DLF DMart GAIL Godrej Consumer Products Havells HAL ICICI Lombard ICICI Prudential Indian Oil IndiGo Info Edge IRCTC IRFC Jindal Steel Jio Financial Services JSW Energy LIC Lodha LTIMindtree NHPC Pidilite Power Finance PNB REC Samvardhana Motherson Shree Cement Siemens India Tata Power Torrent Pharma TVS Motors Union Bank United Spirits Varun Beverages Vedanta Zomato Zydus Lifesciences ACC Aditya Birla Fashion Alkem Labs Apollo Tyres Ashok Leyland Astral AU SFB Aurobindo Pharma Balkrishna Industries Bandhan Bank Bank of India Bank of Maharashtra Bharat Dynamics Bharat Forge Biocon BSE CBI Cochin Shipyard Coforge Container Corp CG Power Cummins India Delhivery Dixon Technologies Escorts Exide FACT Federal Bank GMR Airports Godrej Properties Hindustan Petroleum Hindustan Zinc HUDCO IDBI Bank IDFC First Bank Indian Bank Indian Hotels IOB Indraprastha Gas Indus Towers IRB Infrastructure IREDA Jubilant FoodWorks Kalyan Jewellers KPIT Technologies LIC Housing Finance Lupin M&M Finance Mankind Pharma Marico Max Financial Services Max Healthcare Mazagon Dock Shipbuilders Mphasis MRF MRPL Muthoot Finance NLC India NMDC Nykaa Oil India Oracle FSS Page Industries Patanjali Foods Paytm Persistent Systems Petronet LNG Policybazaar Polycab Poonawalla Fincorp Prestige Estates RVNL SAIL SBI Card SJVN SRF Sundaram Finance Supreme Industries Suzlon Tata Chemicals Tata Communications Tata Technologies Torrent Power Tube Investments UPL Voltas Yes Bank

• Entertainment companies of India
• Film production companies based in Mumbai
• Television broadcasting companies of India
• Television production companies of India
• Television stations in Mumbai
• Indian companies established in 1991
• Entertainment companies established in 1991
• Essel Group
• Former News Corporation subsidiaries
• Television networks in India
• Television stations in Delhi
• Television stations in New Delhi
• Mass media companies based in Mumbai
• Companies based in Mumbai
• Mass media companies established in 1991
• Television channels and stations established in 1991
• Mass media companies of India
• Zee Entertainment Enterprises
• 1991 establishments in Maharashtra
• Companies listed on the National Stock Exchange of India
• Companies listed on the Bombay Stock Exchange
• Attempted mergers and acquisitions
• ZEE5