Television

Zee Media acquires 80% stake in India Today's entities; to launch shopping channel

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2016/02/27/Zee_media_logo.jpg?itok=Do3FU01y

MUMBAI: Zee Media Corporation Ltd (ZMCL) has acquired up to 80 per cent equity stake in Today Merchandise Pvt Ltd (TMPL) and Today Retail Network Pvt Ltd (TRNL), which are wholly owned subsidiaries of India Today Group's entity Living Media India Ltd. The company plans to invest approximately Rs 165.78 crore over the next four years in scaling up this business.

Today Merchandise and Today Retail Network, which are currently running into losses, have been developing infrastructure for launching a TV shopping channel and also operate an e-commerce website called www.bagittoday.com to complement the TV shopping business.

With this acquisition, Zee Media is not only looking at shortening the launch timing of a TV shopping channel but is also planning to scale up the business at a faster pace.

By June 2016, ZMCL will acquire 49 per cent equity stake by investing approximately Rs 39.78 crore by subscribing to equity shares of TMPL and TRNL, at par value and will have managerial and operational control over the target entities.

Subsequently the company will increase its stake, by investing up to Rs 126 crore over a period of four years, by subscribing to any security convertible into equity shares of the two companies at par value, such that upon conversion, the shareholding of the company shall be 80 per cent of fully diluted capital of TMPL and TRNL.

TMPL was incorporated on 23 November, 2010. During financial years ended 31 March, 2015, 31 March, 2014 and 31 March, 2013, TMPL had achieved turnover of Rs 3.84 crore, Rs 5.25 crore and Rs 5.11 crore respectively.

On the other hand, TRNL was incorporated on 20 August, 2007 and during its financial years ended 31 March, 2015, 31 March, 2014 and 31 March, 2013, TRNL achieved turnover of Rs 37.36 crore, Rs 52.45 crore and Rs 49.80 crore respectively.

ZMCL’s board of directors have in-principal approved the stake acquisition. ZMCL, with its existing broadcast operations, is looking to derive the synergy benefits from this proposed investment.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/09/zee.jpg?itok=DI1oq3y7
It is ‘Wedding Week’ on Zee Telugu!

NEW DELHI: Zee Telugu presents its content resumption strategy with gripping plots of its marquee shows. As the world battles the novel pandemic by adopting social distancing, Zee Telugu continues to innovate unique and engaging content for its audience.

Television TV Channels Regional
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/09/tarun.jpg?itok=LhC-8hUU
Tarun Nangia joins IICA monitoring committee as member

NEW DELHI: NewsX associate editor (special projects) Tarun Nangia has been appointed as a member of the monitoring committee to the Indian Institute of Corporate Affairs (IICA), a think-tank under the ministry of corporate affairs, government of India. The monitoring committee has been constituted...

Television TV Channels People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/09/jumanzi.jpg?itok=ucoTlWps
Jumanji: The Next Level Leaps To The Top Spot As The Biggest Simulcast Premiere on &flix and Zee Cinema

Truly taking it to the next level, the recent Flix First Premiere of Jumanji: The Next Level on &flix and a simulcast on Zee Cinema clocked 34Mn impressions {BARC | All India 2+ | 27th June 2019 – 26th June 2020 | Zee Cinema (SD + HD), &flix (SD + HD)}. Scaling to the top as the biggest...

Television TV Channels Movie Channels
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/09/ficci.jpg?itok=maWBnAqp
Digital is pushing other mediums towards accountability

In the post-Covid2019 world, measuring the efficacy of advertising spends will become even more critical for companies as they navigate their recovery given the significant pressure of their cash flows and liquidity positions.

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/08/sony-max.jpg?itok=fF97ZX_j
Sony MAX to celebrate 5 years of S.S. Rajamouli's Bahubali: The Beginning

Mumbai: Sony MAX will celebrate 5 years of Bahubali: The Beginning through a special telecast of the Prabhas and Rana Daggubati starrer on July 11 at 8PM. Five years since its release, Bahubali: The Beginning, has continued to maintain a special place in every Bollywood fan’s heart with its high-...

Television TV Channels Movie Channels
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/08/johnes.jpg?itok=ZE5AA4WJ
Johannes Larcher to head HBO Max International

NEW DELHI: Johannes Larcher will take over as Head of HBO Max International, WarnerMedia, a division of AT&T Inc announced today. It has been reported that Larcher will report to WarnerMedia International Networks chief revenue officer & president Gerhard Zeiler.  Larcher will take care of...

Television TV Channels People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/08/colors.jpg?itok=NcWtVBhQ
Caught in the web of love and revenge, COLORS’ presents Ishq Mein Marjaawan

All is fair in love and war says the adage. But to what extent one can go to prove their true love? What price can they pay for their love? And what happens when love becomes the biggest gamble of your life? Riddhima’s (played by Helly Shah) path to love is nothing less than a bed of thorns as she...

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/08/zee.jpg?itok=9KOTlVCM
Nanjamma makes it big on the mini-screen singing the title song for Zee Keralam's Karthikadeepam

NEW DELHI: Nanjamma, the 60-year-old singer, from the rural innards of Attappadi has for another time made a sensational hit on the social media platform with her singing. This time she has sung the title song for the new fiction 'Karthikadeepam' in ZEE Keralam. The song also has another...

Television TV Channels Regional
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/08/ganaga.jpg?itok=7Cj2L1PD
BIG Ganga launches 5 new shows

NEW DELHI: With the auspicious month of Sawaan, just around the corner, BIG Ganga, leading Bhojpuri GEC channel in the Hindi heartland, is all geared up to entertain its viewers with an engaging Shravan line-up commencing this 6 July. Conceptualised around the theme of Shiv Sawaan Aur Ganga, it...

Television TV Channels Regional

Sign up for our Newsletter

subscribe for latest stories

* indicates required