Zee Entertainment Enterprises
 | |
| Company type | Public |
|---|---|
| Industry | |
| Founded | 15 December 1991 |
| Founder | Subhash Chandra |
| Headquarters | Mumbai, Maharashtra, |
Area served | Worldwide |
Key people | |
| Products | Broadcasting, films, music, streaming, web portals |
| Revenue |  ₹2,112 crore (US$250 million) (2022)[2] |
| ₹−196 crore (US$−23 million) (2022)[2] | |
| Total assets | ₹13,239 crore (US$1.6 billion) (2022)[2] |
Number of employees | 3,429 (2021)[2] |
| Parent | Essel Group |
| Website | zee.com |
| Footnotes / references [3] | |
Zee Entertainment Enterprises (ZEEL) (formerly Zee Telefilms) is an Indian media conglomerate. Headquartered in Mumbai, it has interests in television, print, internet, film, and businesses related to mobile content, and operates 45 channels worldwide.
History
Independent era
In April 1995, the company launched the premium movie channel Zee Cinema, the first channel of its sort in the country.[4][5][6] Until 1999, programming was done by Star TV.[7] In the following years Zee Cinema has also catered to international markets like South-East America, Europe, Middle East, North Africa, Pakistan, Indonesia[8] and Asia Pacific and the Rest of Africa.[citation needed] Zee Cinema (Canada) is available in Canada as a joint ventures with Ethnic Group.[6]
Zee Telefilms launched a Nickelodeon-branded programming block in 1999 as part of a distribution deal between Viacom International and Zee Telefilms. It was replaced by a new Cartoon Network block in 2002.[9][10]
In 2008, Zee Networks launched Zee Motion Pictures and Zee Limelight (now Zee Studios) for the development, production, distribution and marketing of mainstream films in Indian languages, including Hindi, Malayalam, Tamil, Telugu, Kannada, Bengali and Marathi.[11]
In 2015, Zee acquired Sarthak TV, an Odia-language pay television channel.[12]
In 2017, the company acquired the majority stake of the Reliance Broadcast Network.[13] It also planned to acquire 9X Media in October 2017 for the cost of ₹160 crore, however, the plan fell through in March 2018.[14][15] A partially-owned subsidiary, Diligent Media Corporation, is a publisher of Indian daily newspapers and websites. DMC is a joint venture between Zee and the Dainik Bhaskar Group.[16]
In 2018, Zee launched Zee Theatre, which offers a collection of recorded theatre plays also called teleplay- produced in India and internationally.[17]
Sale talks
In February 2019, media reported that Essel Group was in talks to sell[18] their shares from the Zee Entertainment Enterprises to save them from debt.
Top Sony officials including Mike Hopkins, chairman of Sony Pictures Television,[18] and Tony Vinciquerra, chairman of Sony Pictures, had visited Subhash Chandra and his family at his residence shortly after Chandra announced his intent to sell half of the promoter holding in Zee Entertainment Enterprises to a global strategic investor.
On 2 April reports said that[19] some other promoters[20] were willing to sell their shares worth ₹332 crore.
On 3 April media reported Sony and Zee Entertainment Enterprises deal off[21] amid valuation differences which opened the door for Comcast-Atairos.
On 1 August media reports Invesco Oppenheimer Fund to buy 11% stake in Zee Entertainment.[22]
In September 2021, it was reported that Invesco Developing Markets Funds and OFI Global China Fund LLC, who jointly holds a 17.88% stake, wanted Punit Goenka (also the son of founder) to step down as MD and CEO. It was also reported that Essel Group owns a sum of 3.99% minority stake.[23]
In 2024, Zee Entertainment Enterprises partnered with Sony Pictures Entertainment.[24]
Attempted merger with Sony Pictures Networks India
On 22 September 2021, the company announced its intent to merge with Sony Pictures Networks India.[25] Sony Pictures will hold a majority stake in the proposed merged entity, which will be headed by Zee's Punit Goenka.[26] In December 2021, the merger was approved by the two companies boards. Sony will hold a stake close to 51% in the company, with Zee controlling the remaining stake.[27]
On 10 August 2023, the National Company Law Tribunal approved the proposed Sony/Zee merger.[28]
On 18 January 2024, the anticipated $10 billion merger between Zee Entertainment Enterprises and Sony Pictures India progressed as ZEE's stock increased amid reports that CEO Punit Goenka might step down, potentially resolving a major deadlock in the merger process.[29] However, on 22 January 2024, Sony Pictures Networks India issued a notice to Zee Entertainment Enterprises effectively terminating the merger proceedings due to, among other reasons, the closing conditions to the merger not being satisfied by the given deadline of January 21.[30]
Controversy
Dispute between promoters
On 11 September 2021, Invesco asked Zee management to call shareholders an "extraordinary general meeting" (EGM) to consider its demands. One of the main demands was the removal of Punit Goenka, son of the Zee Network founder.[31] However Zee board rejects a demand from Invesco to convene an extraordinary general meeting.[32] Invesco Developing Market Funds Moves to National Company Law Tribunal (NCLT) and Bombay High Court seeking a mandatory order for Zee Enterprises Entertainment Limited (ZEEL) to call the extraordinary general meeting (EGM) that the shareholder has been demanding.[33][34]
On 11 October 2021 Invesco[35] write an open letter to the other shareholders saying they are disappointed that the leadership of Zee has resorted to a reckless public relations campaign in response to the overwhelming demand from shareholders for leadership changes at Zee network. also, they implemented that they tried to merge Zee with some other Indian company in early 2021 but the Zee board rejected it.
Zee Board replied to Invesco's open letter saying they didn't care about the company, and Invesco is not motivated by concerns related to any corporate governance issue[36] but "by the events that transpired during February–April 2021 pointing Invesco purposed deal with Reliance Industries.[37]
On 21 October, Bombay High Court asks the Zee board to call EGM as demanded by shareholder Invesco, and Counsel appearing for Zee Entertainment said the company will inform the date of the EGM by the morning of October 22.[38][39]
On 22 October, Zee replied to the court that the board can't give a nod to something that will turn out to be illegal.[40] so HC postponed hearing of the Zee-Invesco matter to October 26.and on October 26 Bombay High Court has restrained Invesco from taking any action in furtherance of their requisition notice (to call an EGM).[41]
On 7 December, Invesco headed towards a resolution expected to back the merger deal with Sony as long as the Goenka family does not get any preferential equity.[42]
On 22 December, Board of Zee signed definitive agreements with Sony after received approval from its board of directors[43]
Zee Music vs Sonu Nigam
Sonu Nigam alleged that he was banned by the Zee Music Company after he tweeted in support of politician Kumar Vishwas.[44][45][46]
Owned Channels
India
| Channel | Launched | Language | Category | SD/HD availability | Notes |
|---|---|---|---|---|---|
| Zee TV | 1992 | Hindi | General Entertainment | SD+HD | |
| &TV | 2015 | ||||
| Zee Anmol | 2013 | SD | |||
| Big Magic | 2011 | ||||
| Zee Zindagi | 2014 | ||||
| Zee Cinema | 1995 | Movies | SD+HD | ||
| Zee Classic | 2005 | SD | |||
| Zee Action | 2006 | ||||
| Zee Anmol Cinema | 2016 | ||||
| Zee Bollywood | 2018 | ||||
| &pictures | 2013 | SD+HD | |||
| &xplor HD | 2019 | ||||
| Zee Anmol Cinema 2 | 2024 | SD | Formerly Zee Ganga | ||
| Zing | 2009 | Youth | Formerly Zee Muzic | ||
| Zee Café | 2000 | English | General Entertainment | SD+HD | Formerly Zee English |
| &flix | 2000 | Movies | Formerly Zee Studio | ||
| &privé HD | 2017 | HD only | |||
| Zee Zest | 2010 | Hindi, English | Lifestyle | SD+HD | Formerly Living Foodz and Zee Khana Khazana |
| Zee Theatre | 2018 | Hindi, English, Urdu, Marathi, Gujarati | TV Plays | SD | |
| Zee Bangla | 1999 | Bengali | General Entertainment | SD+HD | Formerly Alpha TV Bangla |
| Zee Bangla Cinema | 2012 | Movies | SD | ||
| Zee Biskope | 2020 | Bhojpuri | |||
| Zee Marathi | 1999 | Marathi | General Entertainment | SD+HD | Formerly Alpha TV Marathi |
| Zee Yuva | 2016 | SD | |||
| Zee Talkies | 2007 | Movies | SD+HD | ||
| Zee Chitramandir | 2021 | SD | |||
| Zee Sarthak | 2010 | Odia | General Entertainment | Formerly Sarthak TV | |
| Zee Punjabi | 2020 | Punjabi | Formerly Alpha TV Punjabi | ||
| Zee Kannada | 2006 | Kannada | SD+HD | ||
| Zee Picchar | 2020 | Movies | |||
| Zee Keralam | 2018 | Malayalam | General Entertainment | ||
| Zee Tamil | 2008 | Tamil | |||
| Zee Thirai | 2020 | Movies | |||
| Zee Telugu | 2004 | Telugu | General Entertainment | Formerly Alpha TV Telugu | |
| Zee Cinemalu | 2016 | Movies |
International
| Channel | Launched | Language | Category | SD/HD availability | Notes |
|---|---|---|---|---|---|
| Zee World | 2015 | English | General Entertainment | SD/HD | |
| Zee Bollynova | 2017 | ||||
| Zee One (Africa) | 2021 | ||||
| Zee Famliy | 2023 | ||||
| Zee Zonke | 2023 | Zulu | |||
| Zee France | 2005 | French | |||
| Zee Magic | 2015 | ||||
| Zee Bioskop | 2013 | Indonesian | |||
| Zee Mundo | 2016 | Spanish | Movies | ||
| Zee Alwan | 2012 | Arabic | General Entertainment | ||
| Zee Aflam | 2008 | Movies | |||
| Zee Nung | 2014 | Thai | General Entertainment | ||
| Zee Phim | 2017 | Vietnamese | Movies |
Defunct channels and networks
India
| Channel | Launched | Defunct | Language | Category | SD/HD availability | Notes |
|---|---|---|---|---|---|---|
| Zee Next | 2007 | 2009 | Hindi | General Entertainment | SD | |
| Zee Smile | 2004 | 2016 | Formerly Smile TV | |||
| 9X | 2007 | 2015 | Acquired from 9X Media | |||
| Zee Jagran | 2005 | 2015 | Devotional | |||
| Zee Premier | 2006 | 2015 | Movies | SD | Formerly Premier Cinema | |
| ZeeQ | 2010 | 2017 | Kids | SD | ||
| Zee Muzic | 1997 | 2009 | Music | Replaced with Zing TV | ||
| Zee ETC Bollywood | 1999 | 2020 | Formerly ETC and ETC Bollywood | |||
| Zee Khana Khazana | 2010 | 2015 | Lifestyle | Replaced with Living Foodz | ||
| Zee Studio | 2005 | 2018 | English | Movies | Formerly Zee MGM and Zee Movie Zone | |
| Zee Trendz | 2003 | 2014 | Lifestyle | Formerly Trendz TV | ||
| Zee Sports | 2005 | 2010 | Sports | Merged with TEN Action | ||
| Living Foodz | 2015 | 2020 | English, Hindi | Lifestyle | SD+HD | Replaced with Zee Zest |
| Living Travelz | 2017 | 2017 | Knowledge | SD | ||
| Zee Ganga | 2013 | 2024 | Bhojpuri | General Entertainment | Replaced with Zee Anmol Cinema 2 | |
| Zee Gujarati | 2000 | 2009 | Gujarati | General Entertainment | Formerly Alpha TV Gujarati | |
| Zee Vajwa | 2020 | 2022 | Marathi | Music | ||
| Zee ETC Punjabi | 2001 | 2014 | Punjabi | General Entertainment | Formerly ETC Punjabi |
International
| Channel | Launched | Defunct | Language | Category | SD/HD availability | Notes |
|---|---|---|---|---|---|---|
| Zee Bollymovies | 2017 | 2019 | English | Movies | SD | |
| Zee One | 2016 | 2020 | German | General Entertainment | The channel relaunched in Africa from 2021 | |
| Zee Sine | 2016 | 2020 | Filipino | |||
| Zee Variasi | 2006 | 2016 | Malay | Replaced by Tara HD on 19 October 2016, then replaced by Colors TV HD on 1 October 2019 | ||
| Zee Hiburan | 2015 | 2017 | Indonesian | Merged into Zee Bioskop on 1 March 2017 |
Over The Top (OTT)
In February 2016, Zee Entertainment Enterprises forayed into video-on-demand with the launch of its OTT platform OZEE.[47]
On 14 February 2018, this service rebranded as ZEE5.[48] Since its relaunch as ZEE5, it streams all content from its television network and also movies and original series. ZEE5 claimed 57 million monthly active users in December 2019.[49]
Other assets
Publishing[50]
- bgr
- Mollywood
- cricket country
- The health site
- India.com
- Sugarbox
- Zee5X
Event management [51]
- Zee Live
- Super moon, Arth, Edu care, It's A Girl Thing
- Zee Theatre
Film distribution and music
- Zee Studios[52]
- Zee Plex (movie-on-demand service)[53]
- Zee Music Company[54]
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