Zee Entertainment to acquire Zee Studios film biz
The transaction will see the transfer of the business in an all cash deal valued at Rs 275 crore.
18 Dec, 2020 - 08:48 AM IST | By indiantelevision.com Team
MUMBAI: Zee Entertainment Enterprises Ltd (ZeeL) is going to the movies. The company has announced that it is all set to acquire the film production and distribution business of its subsidiary Zee Studios on a slump sale basis over the next two months. It has priced the acquisition on a cash payout of Rs 275 crore.
Zee Studios generated a revenue of Rs 124.11 crore in FY 2019-20, Rs 299.54 crore in 2018-19, and Rs 165.98 crore in FY 2017-18.
Nifty Media index ended down 1.94% at 1693.85 today. The index is up 15.00% over last one month. Among the constituents, Jagran Prakashan Ltd shed 3.29%, TV18 Broadcast Ltd dropped 2.72% and Zee Entertainment Enterprises Ltd fell 2.59%.
The Nifty Media index is down 4.00% over last one year compared to the 12.43% surge in benchmark Nifty 50 index. In other indices, Nifty PSU Bank index is down 1.42% and Nifty Metal index has dropped 1.35% on the day. In broad markets, the Nifty 50 increased 0.42% to close at 13740.7 while the SENSEX recorded a gain of 0.48% to close at 46890.34 today.
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As CSR drive, Zee donates 304-bed dedicated Covid health centre for frontline workers, their families
Punit Goenka, MD and CEO, Zee, handed over the health facility to the Thane Municipal Corporation in the presence of Uddhav Thackeray, Chief Minister of Maharashtra
(L) Punit Goenka, MD and CEO, Zee, and Uddhav Thackeray, Chief Minister of Maharashtra (R)
Zee Entertainment Enterprises Ltd. (ZEE), in line with its national-level CSR drive against Covid-19, donated a dedicated Covid health centre (DCHC) for frontline workers and their families to the Thane Municipal Corporation (TMC).
The DCHC facility has been built at Ghodbunder Road, Thane. It was inaugurated and officially handed over to the Thane Municipal Corporation (TMC) at an event by Punit Goenka, Managing Director and Chief Executive Officer, Zee, in the presence of Uddhav Thackeray, Chief Minister of Maharashtra.
Highlights
The Health Centre is set up at Borivade ground in Thane.
It was inaugurated by Maharashtra CM Uddhav Thackeray.
MUMBAI: Zee Group on Friday (December 11) donated a 300 plus bed Dedicated COVID Health Centre (DCHC) for frontline workers and their families to Thane Municipal Corporation.
The health centre, set up at Borivade ground in Thane, was inaugurated by Maharashtra Chief Minister Uddhav Thackeray. Urban Development Minister Eknath Shinde and Zee Entertainment Enterprises Ltd. MD Punit Goenka were present on the occasion.
On this occasion, Punit Goenka, Managing Director and CEO, Zee Entertainment Enterprises Limited (ZEEL), thanked the Maharashtra government and Chief Minister Uddhav Thackeray and Environment Minister Aditya Thackeray.