Zee Entertainment Enterprises announced that it would be seeking a strategic investor by offloading half of the promoters’ stake (41.6 per cent) in the firm. At current market price, analysts expect this will fetch Rs 88.4 billion. Zee Entertainment, along with sibling firms Dish TV, Siticable, and Zee Media, forms the largest media group in India. It brings in more than half the top line for the $4.05-billion Essel Group, which owns among other businesses, education, packaging, and infrastructure. Vanita Kohli-Khandekar spoke to Zee founder and Essel Group Chairman Subhash Chandra about the announcement. Edited excerpts:
What is the logic behind