Print business demerger: Zee Media awaits National Company Law Tribunal approval

MUMBAI: Essel group company Zee Media Corp had got shareholder approval earlier this year to demerge its print media business which includes its newspaper DNA into Diligent Media Corp Ltd (DMCL) and merge two other firms - Mediavest India Pvt Ltd and Pri-Media Services Pvt into - DMCL. The exercise of restructuring would become effective 1 April 2017 and finally see DMCL being listed on the stock exchanges at a later date.

The company yesterday announced - during the release of its latest Q4 2017 and financial year 2017 financial results - that the demerger is awaiting the go-ahead of the National Company Law Tribunal.

According to its latest financial results, Zee Media notched up a healthy 27.3 per cent growth in advertising revenues over the previous corresponding year’s quarter to Rs 1403.7 million in the latest quarter and a 13.7 per cent growth in the full fiscal to Rs 4553.8 million. The spike in advertising revenues came despite the slowdown in ad spends, courtesy demonetisation, and can be attributed to the ad spends by political parties in the assembly elections which took place in the period after January 2017.

Zee Media took a hit of 27.2 per cent on subscription revenues in Q4 to Rs 115.3 million and of 43.8 per cent in the full fiscal to Rs 575.3 million.

Its total revenue in Q4 2017 grew 17.5 per cent to Rs 1559.6 million, while its FY2017 was dragged down by the lower subscription revenues to show a growth of just 1.3 per cent to Rs 5508.2 million.

Higher marketing costs of Rs 208.4 million (a growth of 190.7 per cent) to promote and distribute its new channel WION in Q4 2017 saw its expenses rise 31.5 per cent in the quarter. Its full-year expenses however rose only 3.8 per cent to Rs 4819 million as its marketing expenses shaved by 15.1 per cent in FY 2017.

Its profit after tax for Q4 2017 fell 71.2 per cent Rs 53.6 million while it registered a higher loss of Rs 160.6 million for the full fiscal (Rs 45.4 million in FY2016).

For further detailed financial analysis, please log in a little later today.

Latest Reads
Be privy to a traditional ode to eternal love and longing with 'Tum Bin 2' on Sony MAX

Sony MAX, the leading Hindi movies channel from Sony Pictures Networks will be whipping up romance this January as it brings the sequel of the 2001 hit movie, ‘Tum Bin 2’ on 19th January at 8pm.

Television TV Channels Movie Channels
IRAA Awards Now accepting nominations

In its 12th consecutive year, the Indian Recording Arts Academy Awards (IRAA) 2018 will be hosted alongside the PALM Expo 2018 at the Bombay Exhibition Centre. The awards will once again recognize exceptional skills in music, soundtrack recording and mixing in Indian music for albums and movies.

Television TV Channels GECs
Network 18 PAT at Rs 114 million

Network18 Media & Investments (Network18) reported a marked improvement in its numbers for the quarter ended 31 December 2017. The consolidated revenue (net of revenue from joint ventures and associates) for the company declined marginally by 1.8 per cent year-on-year (yoy) to Rs 3660 million...

Television TV Channels News Broadcasting
Get Intriguing Insights into the human mind with 'Meet the Humans' on Sony BBC Earth

If you think human behavior is predictable, think again. In ‘Meet the Humans’, a show on Sony BBC Earth, starting January 22, at 8pm, a trio of experts led by Dr. Michael Mosely take a microscopic look at the human behavior and discover how incredibly unpredictable and complex humans are.

Television TV Channels Factual & Documentary
TV18 profits decline in third quarter

TV18 Broadcast Ltd (TV18), the subsidiary of the Mukesh Dhirubhai Ambani-controlled Network18 Media and Investments Ltd (Network 18), reported consolidated total income of Rs 10 crore for the quarter ended 31 December 2017 (Q3-18) as compared with income of Rs 23.6 crore for the corresponding year...

Television TV Channels GECs
Applause Entertainment to produce series on 2016 surgical strikes

MUMBAI: Applause Entertainment is making all the right moves.

Television Production House Non-Fiction
Sony Six rakes in ad rev from BBL despite slow start

MUMBAI: The second most popular domestic T20 cricket tournament in the world after Indian Premier League (IPL) is Australia’s Big Bash League (BBL). The Cricket Australia rights, which were with Star India from 2011-12 to 2016-17, have now been acquired by Sony Pictures Network (SPN) India for the...

Television TV Channels Sports
Star India gets aggressive with global programme syndication sales

MUMBAI: Leading Indian media and entertainment major Star India is quite confident that its new catalogue of historical dramas and contemporary soaps and series will gain traction as it continues with its international syndication drive.

Television TV Channels GECs
Season 8 of the drama-packed reality cooking series, MasterChef U.S. premieres on Star World

Viewers are in for a delectable treat as world renowned celebrity Chef Gordon Ramsay returns to the small screen along with celebrated American chef and television personality Aaron Sanchez and chef, author and television personality Christina Tosi in the latest season of MasterChef U.S. that will...

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories