The big broadband battle: Zee and Jio aim for a slice of each other's pie

Both the companies are headed in the same direction; they want to offer fixed broadband to their subscribers in addition to TV services, which will increase their average revenue per user multifold

On one side is Reliance Jio, a telecom player that wants to be counted in the media convergence space. On the other is Subhash Chandra’s Essel group, a media empire with interest in broadcasting, distribution, print, and the latest — over-the-top services and fixed-line broadband. Both have ambitions that can only result in an epic clash of the titans.

On Tuesday, the promoters of Zee Entertainment Enterprises, the flagship company in the Essel group, announced that it will sell half its stake (around 20.8 per cent) to a strategic investor and divest in its step down subsidiaries. At current market cap,