As the feud continues between Zee and Invesco, appellate body NCLAT on Thursday directed the National Company Law Tribunal (NCLT) to give reasonable opportunity to the media major to reply to Invesco's plea for holding a meeting of shareholders, and also remarked that the tribunal made an "error" by not providing sufficient response time. With the order capping a day of fast legal developments at the NCLAT as well as the NCLT within a span of a little over an hour, the spat between Zee Entertainment Enterprises Ltd (ZEEL) and minority shareholder Invesco will now come up for hearing before the NCLT on Friday. Invesco is seeking the ouster of ZEEL MD and CEO Punit Goenka and appointment of six new directors on its board.
Leading media firms Zee Entertainment and Sony Pictures on Wednesday said they have received in-principle approval for a merger that will combine both companies' linear networks, digital assets, production operations and programme libraries.
In an open letter to Zee's shareholders, Invesco, which holds a 7.74 per cent stake in the firm, reiterated its demand for an overhaul of the media group's board and that it would pursue extraordinary general meeting (EGM) to oust chief executive Punit Goenka and two other directors. Last month, Sony Group Corp's India unit signed a non-binding offer to buy Zee.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
At least five people have been arrested by the city police which busted the scam earlier this month.
Zee News on Tuesday demanded the immediate release of its two senior journalists arrested in an extortion case filed by Congress MP Naveen Jindal, alleging that the police action was "illegal" and "designed for something else".
In a bid to strengthen the executive management Zee Telefilm's Subhash Chandra has relinquished the post of managing director and appointed Pradeep Guha as chief executive officer.
Zee has launched its sports channel -- Zee Sports -- that would not simply focus on cricket but provide a "multi-genre sports entertainment package to the viewers".\n
Enthused by the recent success of some of its programmes, Zee Telefilms has decided to hike advertisement rates on its channels by 30-40 per cent from the next fiscal.
Chandra, who will turn 69 years old on Saturday, becomes non-executive director with immediate effect.
Zee is estimated to have paid around Rs 225 crore for the complete rights of Radhe. The total revenue that it may earn could be around Rs 135 crore, implying a shortfall of Rs 90 crore.
In the second major change in a year, Trai had capped individual channel subscription at Rs 12 per month, down from the earlier Rs 19, and capped channel bundle discount to 33 per cent, among other moves.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Guess who else features on the Variety500 list?
Zee and Star, the two largest media companies in India, are undergoing some radical ownership changes. What could it mean? Vanita Kohli Khandekar attempts an answer.
Indian companies realise several business opportunities ahead of International Yoga Day on Sunday
Zee5 is now the fifth largest streaming app after YouTube, Hotstar, MX Player and Voot, and there is talk of hiving off Zee5 to drive valuation, says Vanita Kohli-Khandekar.
Debt funds have exposure of nearly Rs 8,000 crore to Zee group papers. Aditya Birla MF, HDFC MF, Franklin Templeton MF, and ICICI Prudential MF have the highest exposure, reports Samie Modak.
Sairat is the first Marathi film to cross Rs 100 crore.
'We should become an all-encompassing entertainment and information destination," says chairman Subhash Chandra, who monitors the group on a monthly basis, leaving the day-to-day operations to the chief executive officers.
The lack of bandwidth and content means it will be a long time before online streaming services take off in India.
Zee Group is India's second-largest media and entertainment firm.
For some, he is a visionary who grew his one-channel firm into a media giant by the sheer dint of his courage; for others, he is a compulsive risk-taker.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances