MUMBAI: Zee Entertainment Enterprises Limited (Zeel) had earlier informed BSE that the board of directors of the company at its meeting held on March 29, 2016, inter alia, have approved in-principle the proposal for re-organising advertisement sales and channel distribution functions in the business operations of the company.
With a view to provide media planners with multiple options across genres and platforms, the Zeel board has approved re-organisation of advertisement sales function under a separate entity formed for the purpose on March 23, 2016 in the name of Zee Unimedia Limited. Zeel Chief Sales Officer Ashish Sehgal will be in charge of the new entity as COO. Speaking to Indiantelevision.com Sehgal said, "The key is to consolidate, Zeel, ZMCL, Zee Digital and DNA business in the first phase and then later on focus on Dish TV too."
Sehgal has his eyes on the digital wave, "Digital is growing fast and we will monetise it to the most," he added.
On the other hand, ZMCL CEO Bhaskar Das will now serve Zee Unimedia Limited as president and chief growth and innovation officer, "He will be reporting to me" confirmed Sehgal
To facilitate such reorganisation, the Zeel board has approved acquisition of 100 per cent equity stake comprising of 700 Equity Shares of Rs .10 each of Zee Unimedia Ltd, at par, from the subscribers viz certain employees and key managerial personnel of the company.