Zee Entertainment Enterprises

Zee Entertainment Enterprises (formerly Zee Telefilms) is an Indian media conglomerate owned by Essel Group. Headquartered in Mumbai, it has interests in television, print, internet, film, mobile content and allied businesses.

Zee Entertainment Enterprises Limited
TypePublic
Industry
Founded15 December 1991 (1991-12-15)
FounderSubhash Chandra
HeadquartersMumbai, Maharashtra,
Key people
Punit Goenka (CEO)[1]
ProductsBroadcasting, films, music, streaming, web portals
Revenue 8,413 crore (US$1.2 billion) (2020)[2]
1,103 crore (US$150 million) (2020)[2]
527 crore (US$74 million) (2020)[2]
Total assets 12,373 crore (US$1.7 billion) (2020)[2]
Number of employees
3,429 (2020)[2]
ParentEssel Group (22.37%)
Invesco Oppenheimer (11%)
Websitewww.zeeentertainment.com
Footnotes / references
[3]

History

The company was launched on 15 December 1991 as Zee Telefilms, brandname that was retained until 2006. In 2002, the company acquired a majority stake (51%) in ETC Networks. In 2006, they acquired Integrated Subscriber Management Services Limited, and in November 2006, it acquired an 50% stake in Taj television, owner of TEN Sports. On that same year, the company was rebranded as Zee Entertainment Enterprises.

In February 2010, the business acquired an additional stake (95%) in TEN Sports.

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, Tamil, Telugu, Kannada, Malayalam, Bengali and Marathi.[4] Some of Zee Studios's productions include Gadar: Ek Prem Katha, Natsamrat, Sairat and Rustom.

As Zee Telefilms, the company formed part of BSE Sensex from 2000-2005. The news and regional entertainment channel business was spun off into a separate company in 2006 as Zee News.

In May 2011, Star Den entered into a 50/50 joint venture with Zee Turner and Zee Entertainment Enterprises (ZEEL) to distribute and market all channels owned by the company and ZEEL, their respective affiliated channels and other third-party channels in India, Nepal and Bhutan.

It also owns a music label, Zee Music Company.

In 2015 Zee acquired Sarthak TV, an Odia-language pay-television channel.[5] One year later, on 28 July 2016, it launched Zee One, aimed at the German market. A Polish version of the channel was launched in 2017.

In 2016, Zee launched Zee Mundo, a Spanish-language Bollywood movie channel targeting Latin America.

In 2017, the company acquired the majority stake of the Reliance Broadcast Network.[6] It also fully purchased 9X Media and INX Music. [7] 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.[8]

Owned channels

Closed channels

Recent developments (2019–present)

On February 2019 media reportes that Essel Group in talks to sell[9] their shares from the Zee Entertainment Enterprises to save from the debt.
Sony Corporation, Comcast-Atairos, a firm lead by American cable giant Comcast are shortlisted for the bid. However They are competing with technology giant Apple and Reliance Industries

Top Sony officials including Mike Hopkins, chairman of Sony Pictures Television,[10] and Tony Vinciquerra, chairman of Sony Pictures Entertainment, 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 April 2 reports saying that[11] some other promoters[12] sell there share worth 332 cr.

On April 3 media reports Sony and Zee Entertainment Enterprises deal off[13] for now amid valuation differences.which is open the door for Comcast-Atairos.

On August 1 reports Invesco Oppenheimer Fund to buy 11% stake in Zee Entertainment[14]

References

  1. "We want to Transform into an all round media company punit goenka". Business Standard. Retrieved 22 July 2017.
  2. https://www.moneycontrol.com/india/stockpricequote/mediaentertainment/zeeentertainmententerprises/ZEE
  3. "Zee's FY19 earnings may aid better valuation". www.fortuneindia.com.
  4. "Zee Group launches two motion picture production banners". Business of Cinema. 2008.
  5. Zee Entertainment Acquires Sarthak Entertainment
  6. Bindu D Menon. "Zee buys Anil Ambani's TV, radio biz for ₹1,900 cr | Business Line". Thehindubusinessline.com. Retrieved 23 November 2017.
  7. "Zee Entertainment fully acquires 9X Media and INX Music in Rs 160-crore cash deal". Firstpost.com. Retrieved 23 November 2017.
  8. "Indian Newspapers and News Sites". w3newspapers.com. Retrieved 18 October 2014.
  9. https://economictimes.indiatimes.com/industry/media/entertainment/media/comcast-atairos-sony-shortlisted-for-stake-sale-talks-by-zee-entertainment/articleshow/68056312.cms
  10. https://economictimes.indiatimes.com/industry/media/entertainment/media/comcast-atairos-sony-shortlisted-for-stake-sale-talks-by-zee-entertainment/articleshow/68056312.cms
  11. https://economictimes.indiatimes.com/markets/stocks/news/zee-entertainment-shares-wobble-after-share-sale-by-promoters/articleshow/68681842.cms
  12. https://www.moneycontrol.com/news/business/stocks/zee-entertainment-down-3-after-promoters-sell-stake-3744761.html
  13. https://economictimes.indiatimes.com/industry/media/entertainment/sony-zee-deal-off-for-now-amid-valuation-differences/articleshow/68697156.cms
  14. https://www.livemint.com/companies/news/invesco-oppenheimer-fund-to-buy-11-in-zeel-for-rs-4-224-crore/amp-1564577772129.html

8. https://www.medianews4u.com/zeel-to-launch-tamil-movies-channel-zee-thirai-and-zee-thirai-hd/

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