|
ETC
Networks approved the issue of fresh equity to Zee Telefilms
on preferential basis at an extraordinary general meeting
held on Tuesday.
The
members of ETC Networks have approved issues of upto 22,20,812
equity shares of Rs. 10 each at a premium of Rs. 21.52 per
share, aggregating Rs. 6,99,99,994/- to Zee Telefims Ltd.
on preferential allotment basis. The Zee board has already
approved the investment in equity of ETC. Instead of being
a stand-alone broadcaster, ETC Networks will now be part
of the strong Zee-Turner bouquet. It will also benefit from
financial and business resources of Zee and access to overseas
markets, the company claims.
ETC
chairperson Mr. Jagjit Singh Kohli said that consolidation
of channel interests and co-operation would allow his company
to have tremendous opportunities to build on synergies.
The Company from being a standalone broadcaster would be
a part of a strong Zee Turner bouquet, as a result of which,
there would be improved content offerings, that will drive
viewership and subscriber fees, he said.
As
an immediate benefit of this tie-up, ETC channels will have
access to a large pool of resources of Zee in India and
abroad. It will also include content, copyrights of films
and songs, marketing and sales network internationally.
ETC will be able to augment its revenue streams by content
syndication and subscriptions from overseas markets especially
for its most prestigious and valuable property ‘Gurbani’,
says the company.
Click
here for more headlines
|
