Television

Zee News rejigs to meet uplink norms

 MUMBAI: The Subhash Chandra-promoted Zee Telefilms has decided to hive off its news business into a separate company, Zee News Pvt Ltd, which will have scaled down foreign holding.

 

 

The restructuring was done to comply with government regulations, which stipulate that news channels uplinking from India should not have more than 26 per cent foreign investment. Indian shareholding of 51 per cent is mandatory too.

In Zee News Pvt Ltd, Jayaneer Capital Private Ltd will hold 40 per cent and Churu Trading Company Private Ltd 25 per cent equity stake. Both are Indian companies with Indian promoters.

In the restructured news entity, Zee Telefilms' equity stake is 35 per cent, which works out under a complex formula to about 20 per cent of foreign holding to comply with the 26 per cent cap.

 

 

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.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/dlf.jpg?itok=04sbgdDF
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/shemaroo.jpg?itok=97d82QDJ
Relive the Golden days with Shemaroo Entertainment’s “Friday Rewind with RJ Adaa”

Consumers are in for a treat as Shemaroo Entertainment has lined up a new series in association with Adaa, consisting of famous Bollywood songs.

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/eros_0.jpg?itok=gtjDHe9Q
Eros International’s Marathi superhit Boyz 2 shines at the box office collecting Rs. 13 crores within 10 days of release

Eros International Media Ltd, a leading global company in the Indian film entertainment industry, has announced a very successful performance of its Marathi release Boyz 2 which has collected Rs. 13 crores within 10 days of its release on 5th October.

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/Network18_800.jpg?itok=GFctpNpK
Network18 reports improved numbers for Q2 FY19

Mukesh Dhirubhai Ambani’s media arm, Network18, reported improved numbers for the quarter ended 30 September 2018 (Q2 2019, quarter under review) as compared to the corresponding year ago quarter Q2 2018). The company reported 9 per cent y-o-y growth in consolidated revenue for Q2 2019 at Rs 1,237...

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/media_0.jpg?itok=uJ3zJdcx
ZMCL reports more than quadruple profit for second quarter

The company’s consolidated operating revenue increased 35.5 per cent y-o-y in Q2 2019 at Rs 168.66 crore as compared to Rs 124.51 crore in the year ago quarter. Total income increased 34.7 per cent y-o-y in Q2 2019 to Rs 170.66 crore from Rs 126.71 crore in Q2 2018.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/wire.jpg?itok=rcsQVpJx
Eros Now Partners with Celcom; Consolidates Distribution in Malaysia

Eros International Plc (NYSE: EROS) (“Eros”), a leading global company in the Indian film entertainment industry, announced today that Eros Now, its digital over-the-top distribution service

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/v.jpg?itok=sGu6lo2Z
TV Today Network subsidiary receives IT demand notices

TV Today Network Limited (TVTN) has informed the bourses that its wholly owned non-material subsidiary India Today Online Private Limited (ITOPL) has received separate demand notices from the Income Tax department.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/bbc.jpg?itok=qIYwGGq9
BBC Studios India and Mindshare’s I Can You Can wins two Silvers - Best Branded Content and Best Media Strategy at the Emvies 2018

BBC Studios India and Mindshare, India’s largest media agency, announced that it has won two Silvers at EMVIES 2018

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/HOP.jpg?itok=lvLK36Q0
NDTV launches India’s first mobile-only portrait live channel

New Delhi Television Ltd (NDTV) has launched India’s first mobile-only vertical live channel with the name NDTV HOP Live. India has nearly 432 million internet users and this number is growing at a rate of 4-8 per cent, according to Deloitte’s Technology, Media and Telecommunication (TMT)...

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories