Television

Zee Media brings DNA under its fold

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2014/03/26/alokagrawal.jpg?itok=W_oDufxU

MUMBAI: It was in early 2012 that the Subhash Chandra owned company Essel Group bought out its Joint Venture (JV) partner D B Corp’s 50 per cent stake in the English national newspaper DNA, cementing the media baron’s presence in the print media. Now, it has taken a long leap again. In a recent announcement to the Bombay Stock Exchange (BSE), Zee Media Corporation Limited (ZMCL) announced its intention to venture into the print media business with the amalgamation of Essel Publishers that brings out DNA and itself.

Following a postal ballot held between 30 October and 28 November, 95.46 per cent or 652 people out of 683 shareholders were in favour of the amalgamation.

“Having already built a nationwide largest television news network with its varied news channels, with an object of creating a news powerhouse in the country, Zee Media aspires to expand its product offering across multiple platforms, regions and languages,” read the document to investors on the amalgamation scheme.

And it was in keeping with Zee group chairman Subhash Chandra statement in a release a while ago that the company is on a mission to consolidate its broadcast, print and internet content under one umbrella.

According to ZMCL CEO Alok Agrawal, the merger process has just begun and will take a year to complete. And the net result (says the document sent out to shareholders following which they gave the fusing of the two firms the nod) will be that : “Zee Media will be in a position to leverage the combined network of resources, working in an integrated newsroom through multiple platforms as well as providing a bouquet of services to advertisers which would strengthen its market reach.”

“Stories will be shared across the two mediums thus allowing English, Hindi and other regional languages to benefit from each other,” says Agrawal. With this move, ZMCL employees will be also be multi-tasking just like in other efficiently run media organisations the world over.

At the same time, it means additional work as well. “Employees will get cross exposure now. Those who accept the challenge will prosper and those who don’t will falter. That's the law of the land,” remarks Agrawal.

Since 2009, the management of DNA has been handled by the Essel Group with Malcolm Mistry as the current CEO. The integrated newsroom will take some time to evolve. Initially, the focus will be on evaluating the requirement for separate offices for the two media entities, consolidating the teams wherever possible in various cities nationally, and in the process generate savings.

ZMCL has its eye set firmly on expanding DNA by launching new editions in newer towns in phases. DNA is currently published from Mumbai, Pune, Ahmedabad, Jaipur, Indore and Bengaluru. Delhi would be the next target;however, Agrawal says it will take some time as Delhi is a very competitive market with The Times of India and The Hindustan Times fiercely battling each other.

According to the Indian Readership Survey 2012 Q4 topline findings the circulation of DNA was 972, 000. The number may well have gone up significantly since then.

Was it easy to convince shareholders about the expansion plans? “The overwhelming response we got was surely a bit of a surprise but they saw the good opportunity. As a TV channel, our reach was limited and the amalgamation makes it more holistic and well rounded,” explains Agrawal. ZMCL claims that its bouquet of six channels in the news space reach out around 130 million viewers.

The deal proposed to shareholders was that for every 11 shares of Re 1 each held in Essel Publishers, 2 shares of Re 1 each from ZMCL would be issued and allotted. But no shares would be given for fractional entitlements. Post the announcement, the market value of ZMCL’s share saw a spike and at the time of filing this report it was quoting at Rs 14.04 on the BSE.

The authorised share capital of Essel Publishers and ZMCL put together has been enhanced to Rs 170 crore with Rs 70 crore from Essel Publishers and Rs !00 crore from ZMCL.

The amalgamation scheme became effective from 3 December and thus Essel Publishers now stands dissolved without being wound up. And all the newspaper staff have henceforth become ZMCL employees.

ZMCL’s financial result for Q2 2014 showed that advertising and subscription revenues were higher than the previous quarter. Total revenue for Q2 2014 was Rs 160.7 crore with ad revenue at Rs 52.92 crore and subscription revenue at Rs 24.9 crore. PAT stood at Rs 2.8 crore while EBIDTA stood at Rs 74.8 crore.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/19/virat.jpg?itok=8DXooSVq
Star India bags production rights for IPL 2018

Star India, which holds the TV and digital rights of the Indian Premier League, today also won the audio-visual production rights for IPL 2018 as well as the BCCI's domestic circuit for the 2018-19 season. The deal amount has not been revealed.

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/19/prive.jpg?itok=TA019vU8
Experience the cinematic journey of the Academy's finest with &Privé HD’s 'The Winning Side'

As the stage is getting set for one of the most important nights in Hollywood, film enthusiasts across the world are waiting with bated breath to see their favourite stars take home the golden statuette. While the highly-anticipated night soon approaches.

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/19/khelo-india.jpg?itok=cw_aJ-JT
Khelo india school games attract over 100 million viewers in its inaugural edition

Star Sports produced Khelo India School Games (KISG) drew a remarkable viewership for the inaugural edition of the tournament by attracting 102 million* viewers on television. Whether it is with the vision of creating heroes through story telling or simplifying various sports on television to...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/19/the-dump.jpg?itok=4qUVI_cx
Wide sales picks worldwide rights to panorama title Garbage

MUMBAI:  Paris-based sales company Wide has picked up worldwide rights to Panorama title Garbage, directed by Q, which is the only Indian feature in Berlinale official selection this year. A political drama that reflects the times we are living in, Garbage, Q’s new directorial venture Produced by...

Television Production House Film Production
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/19/24.jpg?itok=amvyZTcD
News24 to hike ad rates by 40% post revamp

MUMBAI: A decade after making a headway into India’s burgeoning news TV industry, Hindi news channel News24 has given itself a makeover to stay relevant in the current times. The channel, owned by BAG Network and Media, got a new logo design and tagline of ‘Think First’ earlier this month. Talking...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/19/Jeet.jpg?itok=BcmfVVar
Jeet storms the market with big debut week viewership

MUMBAI: After entertaining the Indian audience for more than 20 years with world-class documentaries on food, science and survival, Discovery Communications India (DCIN) has entered the Hindi general entertainment category (GEC) with a bang thanks to Discovery Jeet. The channel, which launched on...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/19/FTA_GEC_0.jpg?itok=3UXOqCYk
FTA GECs bring in revenue despite low ad rates

MUMBAI: The formulation of the Broadcast Audience Research Council (BARC) had one big advantage for channels. Regional reporting led to increased viewership for free to air (FTA) general entertainment channels (GEC) as well as higher advertiser interest. Star Bharat is the only FTA that has...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/17/Pro_Wrestling.jpg?itok=ZIguV2M0
Pro Wrestling League rallies on North India viewership

MUMBAI: The third edition of the Pro Wrestling League (PWL) proved to be a hit among the younger viewers while attracting audiences of all age groups. Moreover, 77 per cent of the viewership came from North India for the season.

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/16/banok.jpg?itok=BJ4ELatq
Catch the Superr Heropanti of bandbudh aur budbak only on Discovery Kids

Discovery Kids, the leading animation channel from Discovery Communications India, has launched its new series Bandbudh aur Budbak from 12th February. The show follows the fun school life adventures of two best friends, Badrinath and Buddhadeb who often land in trouble because of their antics but...

Television TV Channels Kids

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories