Zee Entertainment Enterprises Limited (ZEEL) today said its Russian subsidiary, Zee CIS LLC had signed a deal to set up a joint venture with Sistema Mass-media for co-distribution of their existing TV channels and launching a new one.
According to the deal, Sistema Mass-media (SMM), a group company of Russia’s diversified business conglomerate JSFC Sistema ,will assist Zee CIS LLC to distribute its channels on the networks affiliated with SMM. Similarly, Zee Entertainment will facilitate localisation and distribution of a number of SMM channels in India and other countries in Europe, Asia and America, ZEEL said in a statement.
The company, however, did not disclose the details of the joint venture such as respective stake of partners and finances. The two companies will also explore the possibility of launching a joint TV channel, acquiring terrestrial frequency for broadcasting and co-producing TV and film content.
“Zee Russia has always had a good working relationship with Sistema Mass-media in the past, which has had a synergistic impact in the business operations of both organisations,” ZEEL Managing Director and CEO Punit Goenka said. Commenting on the partnership, SMM President Andrei Smirnov said, “We are very interested in implementing all intended projects as soon as possible.We see enormous potential for further creative, business and what is even more important, innovative cooperation.”
Zee Group channel, Zee Smile had recently aired the Russian TV serial ‘Indian’ across India and Asia.
