Zee Entertainment Enterprises today said it would hold a meeting of its board this week to discuss a proposal for restructuring the businesses of ETC Networks, a subsidiary of the company.
A meeting of the board of directors of the company will be held on December 23 to consider restructuring the businesses of ETC Networks, media & entertainment major Zee Entertainment Enterprises said in a filing to the Bombay Stock Exchange (BSE).
In a separate filing to the BSE, ETC Networks said its board will also meet on the same day "to consider a proposal of restructuring of broadcasting and education businesses of the company".
ETC Networks is a leading television network in India that owns two channels--ETC Hindi and ETC Channel Punjabi.
At the end of September quarter, Zee Entertainment held a 50.18 per cent stake in ETC Networks, as per the data with the BSE.
Shares of Zee Entertainment rose 4.17 per cent and settled at Rs 262 on the BSE, while ETC Networks stock surged nearly 5 per cent to hit upper circuit of Rs 208.80.
