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How does this formula work that is based on a total 58 per cent
total foreign holding in Zee Telefilms? The foreign holding in the
restructed Zee News Pvt Ltd has been calculated at the rate of 35
per cent (Zee Telefilms holding in Zee News) of 58 per cent (foreign
holding in Zee Tele).
The details of the restructuring were confirmed to indiantelevision.com
by company sources after Zee Tele informed the Bombay Stock Exchange
(BSE) and the government of the changes.
As part of the regulatory requirements, Zee Tele informed BSE,
the company is planning to transfer its business and activity relating
to news and current affairs, including assets and liabilities,to
Zee News Pvt Ltd.
The activities comprise gathering of content, editing, making it
broadcast worthy, broadcasting and uplinking content on Zee News
channel and on certain time slots of regional language channels.
The Zee Tele board will meet at a later date to approve the changes
and the appropriate terms and conditions effected in the company
relating to the news business.
The restructuring of the news business was necessitated as being
part of Zee Telefilms Ltd, the foreign holding in the news channels
--- Zee News and Zee Business --- were way above the stipulated
government norms.
The government has set 30 September as one the many extended deadlines
for news channels to comply with uplinking guidelines. Business
channel CNBCTV18 will also have to restructure to comply with the
guidelines.
Also Read:
Cabinet
grants 6-month extn on uplink norms
Cabinet
extends to 31 October news uplink norms deadline
Centre
looking at tougher uplink norms for foreign news channels
News
uplink norms deadline extended further
Reddy
okays FII investments in news channels
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