Television

ZTL, Padmalaya reach accord; land part of deal

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2016/04/09/Zee%20Telefilms%20Ltd.jpg?itok=HDev67OM

MUMBAI: Zee Telefilms Ltd (ZTL) has reached a settlement with the promoters of Padmalaya companies, whom it had accused of misappropriation of shares.

According to the agreement, ZTL will be given 21,000 sq metres of land in Padmalaya Studios located in Hyderabad. The valuation of the property is close to Rs 500 million, says a source in Zee Telefilms. Consequent to this, ZTL will completely exit from Padmalaya.

Zee is likely to write off Rs 100 million as it had invested Rs 590 million in acquiring a majority stake in Padmalaya. ZTL had taken a 64 per cent stake in Padmalaya Enterprises Pvt LTD (PEPL). PEPL formed the holding company and held a 50.3 per cent controlling stake in Padmalaya Telefilms LTD (PTL), a listed company.

Already 17,000 sq metres has been transferred to ZTL, says the source. Padmalaya Studios is a privately held company by the promoters of Padmalaya and has land in the prime locality of Hyderabad.

"We are expecting the remaining 4,000 sq metres to be transferred within two months," he adds. Zee is planning to sell the land to recover its investments in Padmalaya.

As part of the settlement, ZTL will also get back Zee Institute of Creative Arts (ZICA) which had been transferred to Padmalaya. ZICA is a training institute specialising in animation. "We wanted to protect the interests of the animation students," the source says.

ZTL had earlier accused Padmalaya founder-promoter GA Seshagiri Rao, along with his relatives, of pledging PEPL's shares in PTL to raise loans without the knowledge of the board. As a result of the misappropriation, PEPL's holding in PTL has dropped from 50.3 per cent to about 20 per cent. Zee's indirect interest in PTL had, as a result, fallen from 33 per cent to around 13 per cent.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/12/12/news.jpg?itok=U8axkKyv
Times Network sets India’s $5 Trillion growth agenda through the 5thedition of ‘India Economic Conclave 2018’: Day 1

Times Network, a part of India’s largest media conglomerate, The Times Group, commenced its signature event, India Economic Conclave 2018 in its 5th edition in Mumbai today.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/12/12/zmat.jpg?itok=1WsUWFIY
Zee TV VP marketing Azmat Jagmag quits

Zee TV’s VP for marketing, Azmat Jagmag, who was responsible for brand building, team growth, sales strategy and revenue facilitation, has quit the organisation last month.

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/12/12/GEC_most.jpg?itok=UF4nHin8
Hindi GEC most benefited genre in Chrome DM week 49

With a growth of 2.16 per cent as compared to last week (48), the Hindi GEC genre marked the highest opportunity to see (OTS) among all categories in week 49 of Chrome Data Analytics & Media. In the Hindi GEC genre, Star Utsav gained the highest OTS with 99.5 per cent in HSM excluding the less...

Television TV Channels Viewership
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/12/12/ottv_1.jpg?itok=8U2Bt7rB
Challenge of crafting characters in Indian animation

For most animation producers and distributors, the art of creating content strategy and research is what’s keeping them up at night. But a few of them say that a formulaic approach should be rejected in this category.

Television TV Channels Kids
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/12/11/ranjana.jpg?itok=gQ7qNPBm
Ranjana Mangla joins Star Sports as VP - emerging sports

Ranjana Mangla has joined Star Sports as vice president - emerging sports, Indiantelevision.com has learnt. Ranjana, who took charge of her new role on Monday, was the national revenue head of India Today TV in her last gig.

Television TV Channels Sports
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/12/11/satymev.jpg?itok=MBG_4h--
Watch the World Television Premiere of Satyameva Jayate on 15th December only on Zee Cinema

We all have seen corruption and apathy in the government and police force etc.

Television TV Channels Movie Channels
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/12/11/zee.jpg?itok=UKtrNPBG
Zeel channels most watched Hindi channels across genres

Two Hindi GECs from the Zee Entertainment Enterprises Ltd (Zeel) stable – free-to-air or FTA Zee Anmol and flagship pay TV channel Zee TV were once again the second and third most watched channels across genres in 2018 in week 48 (Saturday, 24 November 2018 to Friday, 30 November 2018).

Television TV Channels Viewership
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/12/11/priyanka_0.jpg?itok=XRpmy4tA
Our shows will empower people to drive electoral discourse: Network18's Priyanka Kaul

The news genre has entered its peak time – election season. All news channels including Hindi, English and regional have started their election-based programming from the exit polls that took place on 7 December 2018. Election coverage is like the bread and butter for news channels since this is...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/12/10/kanada.jpg?itok=n7Tw9omO
Zee Kannada to launch a first-of-its-kind horror thriller fiction show – Aatmabandhana

Zee Kannada, every Kannadiga household’s hub of entertainment, further strengthens its fiction band with innovative content post the successful launch of Paaru.

Television TV Channels Regional

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories