Zee Group

TV channels pitching in-show influencers is the new crossover experiment

It comprises 3.5 to 5 million influencers, two large media-tech platforms (Google and Meta) and a bevy of digital agencies

Zeel's shareholders want a professional to lead the company: Proxy advisors

Stock rises after shareholders reject Punit Goenka's reappointment as a director

ZEEL shareholders reject proposal to reappoint Punit Goenka as director

The shareholders of Zee Entertainment have rejected a proposal for the reappointment of Punit Goenka as director, according to a regulatory filing by the company. The filing by Zee Entertainment Enterprises Ltd (ZEEL) stated that the resolution for the reappointment of Goenka was defeated in the annual general meeting (AGM) of the company. Resolution number three in the AGM, which proposed the reappointment of Goenka as director, was supported by only 49.54 per cent of the total number of votes cast while 50.4 per cent voted against the resolution. "Resolution No. 3 (Goenka's reappointment) failed to get the requisite majority of votes as required under the provisions of the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015," ZEEL said. This is a major setback for Goenka who is currently the CEO of the company. Several proxy firms had earlier advised the shareholders to vote against resolution number three. However, the three other .

Punit Goenka withdraws from reappointment for ZEEL MD in upcoming AGM

ZEE Entertainment CEO Punit Goenka, who resigned from the post of Managing Director last week, has also withdrawn himself from reappointment for the post in the coming AGM, according to an exchange filing. While sharing Goenka's resignation letter to exchanges on Saturday, Zee Entertainment Enterprises Ltd (ZEEL) said he is "withdrawing his consent for his re-appointment as Managing Director of the company as proposed in the Notice of the ensuing Annual General Meeting. Earlier on October 18, 2024, the ZEEL board approved the proposal for Goenka's reappointment for a five-year term, effective from January 1, 2025, to December 31, 2029. Goenka's present tenure as Managing Director & CEO of the company was scheduled to finish at the 2024-end. Goenka's re-appointment was subject to approval from the shareholders, in the coming AGM, which is scheduled to be held on November 28. However, on November 18 Punit Goenka, son of media baron Subhash Chandra, resigned as the Managing Director .

Breakout Alert: Can Zee stock be 4th time lucky? Key levels here

Zee Entertainment stock rose 9% in intra-day deals on Tuesday, and was on the verge of confirming a breakout on the daily chart yet again in 2024. The last 3 breakouts turned out be false, show charts

Punit Goenka resigns as Managing Director of ZEE, appointed as CEO

Punit Goenka has resigned as the Managing Director of Zee Entertainment and has been appointed as CEO to have his focus entirely on operational responsibilities assigned to him by the board of the company. The board has "accepted the resignation of Punit Goenka as Managing Director of the Company and appointed him as CEO," said Zee Entertainment in a regulatory update. Mukund Galgali, Chief Financial Officer of Zee Entertainment, will assume the role of Deputy Chief Executive Officer of the Company, it added. Goenka's resignation as MD was effective from close of the business hours on November 18, and he was appointed as CEO the same day. The change would be like the existing full-time employment for Goenka, however the variable portion of his salary (40 per cent) will be paid to him only on achievement of certain milestones, subject to a maximum cap as defined by the Board, according to the statement. ZEE said: "With this step, he intends to dedicate his time entirely towards th

Punit Goenka asks ZEEL board to relieve him from managing director position

He intends to dedicate his time and energy towards the set goals for the company's future, ZEE Entertainment Enterprises said in a press release

Zee Media Corp Q2 results: Net loss widens to Rs 49.86 cr, revenue down 13%

Private news broadcaster Zee Media on Friday said its consolidated net loss widened to Rs 49.86 crore for the second quarter ended September 2024. The company had posted a net loss of Rs 30.70 crore during the July-September quarter of the previous fiscal, according to a regulatory filing from Zee Media Corporation Ltd (ZMCL). Its revenue from operations fell 13.78 per cent to Rs 130.70 crore during the quarter under review. It was Rs 151.59 crore in the corresponding period of the previous fiscal. ZMCL's total expenses were Rs 199.65 crore, up 1.64 per cent, in the September quarter. The total income of Zee Media, which includes other income, also declined 13.43 per cent to Rs 133.12 crore. Its advertising revenue slipped 16.3 per cent to Rs 119.22 crore, while subscription revenue rose 26.7 per cent to Rs 11.43 crore in the September quarter. ZMCL is one of the leading news networks in India. Formerly known as Zee News Ltd, it operates about 20 TV news channels. Shares of Zee

Zee Entertainment falls 8% in 3 days on mixed Q2 nos; hits over 4-year low

Zee's revenues have continued their declining trend as ad revenue growth remained underwhelming, declining by another 7.9 per cent YoY during the second quarter

Zee Entertainment Q2 results: Net profit rises 70% to Rs 209 crore

It had a net profit of Rs 123 crore in the July-September quarter a year ago, according to a regulatory filing from Zee Entertainment Enterprise Ltd (ZEEL).

Axis Finance, IDBI withdraw petitions against Zee-Sony merger at NCLAT

Axis Finance, IDBI Bank & IDBI Trusteeship Services have withdrawn their petitions before the appellate tribunal NCLAT filed against the NCLT order approving the merger of Zee Entertainment with Sony Pictures Networks India. The National Company Law Appellate Tribunal (NCLAT) allowed the withdrawal of the petitions noting that the NCLT earlier this month had already recalled its earlier order of August 10, 2023, approving the merger of Zee Entertainment with Sony Pictures Networks India. "Learned counsel for the appellants submit that NCLT has already withdrawn the merger scheme. Hence the appellants pray that they may be permitted to withdraw the appeals. Prayer is allowed," said an NCLAT bench comprising Chairperson Justice Ashok Bhushan and Member Barun Mitra. Earlier this month, the Mumbai bench of the National Company Law Tribunal (NCLT) recalled its order passed on August 10, 2023, in which it had approved the merger of Zee Entertainment with Sony Pictures Networks ...

Zee to push for global reach of DP World ILT20, targets premium advertisers

For advertisers, Sehgal said that ZEEL is focused on creating value as the consumer base consists predominantly of high-income groups in the UAE

Zee stock zooms 14% on settling merger termination dispute with Sony

Zee Entertainment in an exchange filing today said, both companies had agreed to withdraw all respective claims against each other, in the ongoing arbitration at the Singapore.

Zee's Securities Issue & Allotment Committee approves FCCBs worth $239 mn

Zee Entertainment on Tuesday said the Securities Issue and Allotment Committee of the company has approved the allotment of foreign currency convertible bonds (FCCBs) worth USD 239 million to investors. In a regulatory filing, Zee Entertainment Enterprises Limited said it has considered and approved the allotment of FCCBs of up to USD 239 million (around Rs 2,000 crore) maturing in 10 years on a private placement basis to Resonance Opportunities Fund, St John's Wood Fund Ltd and Ebisu Global Opportunities Fund. On July 16, the board of Zee Entertainment Enterprise Ltd (ZEEL) approved the raising of funds through FCCBs with a coupon rate of 5 per cent of up to USD 239 million from investors - Resonance Opportunities Fund, St. John's Wood Fund Ltd and Ebisu Global Opportunities Fund. These FCCBs will not be listed on any of the stock exchanges, it had said. However, investors who choose to convert their bonds into shares will pay Rs 160.20 per share. "In case of conversion of all FC

Zee Ent Q1 results: Profit up at Rs 118.10 cr, revenue rises 7.6%

Zee Entertainment Enterprise Ltd on Wednesday reported a consolidated net profit of Rs 118.10 crore for the first quarter ended June 30, 2024. The company had reported a net loss of Rs 53.42 crore in the April-June quarter a year ago, Zee Entertainment Enterprise Ltd (ZEEL) said in a regulatory filing. The total income of the company was up 7.56 per cent to Rs 2,149.52 crore during the quarter under review. It was at Rs 1,998.26 crore in the corresponding quarter. Total expenses of ZEEL was at Rs 1,941.12 crore, marginally up in the June quarter of FY25. Shares of Zee Entertainment Enterprise Ltd on Wednesday were trading at Rs 147.60 on BSE, up 1.72 per cent from the previous close.

Bombay HC directs Subhash Chandra to furnish documents sought by Sebi

Zee founder had filed writ petition against regulator's summons in fund diversion case

Zee Entertainment to raise nearly $240 million, to use funds for growth

Zee said it will use the funds to "enhance its strategic flexibility to pursue future growth opportunities in the evolving media landscape"

After collapse of merger talks, Zee seeks $90 mn termination fees from Sony

Zee said it has, on account of Culver Max's and BEPL's breaches under the merger cooperation agreement, terminated the agreement by issuing a letter dated May 23

Zee Entertainment Q4 results: Posts consolidated net profit of Rs 13.35 cr

Zee Entertainment Enterprises Ltd on Friday reported a consolidated net profit of Rs 13.35 crore in the March quarter. The company had posted a consolidated net loss of Rs 196.03 crore in the same period of the previous fiscal, Zee Entertainment Enterprises (ZEEL) said in a regulatory filing. Consolidated total income in the quarter stood at Rs 2,185.29 crore as against Rs 2,126.35 crore in the corresponding period a year ago, it added. In the fourth quarter of FY24, domestic advertising revenue grew 10.6 per cent year-on-year driven by the continued recovery in macro advertising environment and spending pickup by FMCG clients, while subscription revenue growth was driven by pick up in linear subscription, the company said in an investor presentation. Total expenses in the fourth quarter were lower at Rs 2,043.76 crore as compared to Rs 2,083.35 crore in the year-ago period. The board of directors has recommended a final dividend of Re 1 per equity share having face value of Re 1

Zee's plan to gun for growth on its own holds perils as well as promise

Analysts are waiting for a big move on the free-to-air market, either by going back on DD Freedish or by doing a big deal with YouTube, the largest video platform