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Zee Entertainment Enterprises Limited

Company type	Public
Traded as	BSE: 505537 NSE: ZEEL
Industry	Mass media Entertainment
Founded	15 December 1991; 33 years ago (1991-12-15)
Founder	Subhash Chandra
Headquarters	Mumbai,Maharashtra, India
Area served	Worldwide
Key people	Subhash Chandra (chairman) Punit Goenka (CEO)[1]
Products	Broadcasting, films, music,streaming,web portals
Revenue	₹2,112 crore (US$240 million) (2022)[2]
Net income	₹−196 crore (US$−22 million) (2022)[2]
Total assets	₹13,239 crore (US$1.5 billion) (2022)[2]
Number of employees	3,429 (2021)[2]
Parent	Essel Group
Website	zee.com
Footnotes / references [3]

Zee Entertainment Enterprises Limited (ZEEL) (formerlyZee Telefilms) is an Indianmedia conglomerate. Headquartered inMumbai, it has interests in television, print, internet, film, and businesses related to mobile content, and operates 45 channels worldwide.

In April 1995, the company launched thepremium movie channel Zee Cinema, the first channel of its sort in the country.^[4][5][6] Until 1999, programming was done byStar TV. In the following years Zee Cinema has also catered to international markets like South-East America, Europe, Middle East, North Africa, Pakistan, Indonesia^[7] andAsia Pacific and the Rest ofAfrica.^{[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 betweenViacom International and Zee Telefilms. It was replaced by a newCartoon Network block in 2002.^[8][9]

In 2008, Zee Networks launchedZee Motion Pictures andZee Limelight (nowZee Studios) for the development, production, distribution and marketing of mainstream films in Indian languages, includingHindi,Malayalam,Tamil,Telugu,Kannada,Bengali andMarathi.^[10]

In 2015, Zee acquired Sarthak TV, an Odia-language pay television channel.^[11]

In 2017, the company acquired the majority stake of the Reliance Broadcast Network.^[12] It also planned to acquire9X Media in October 2017 for the cost of₹160crore, however, the plan fell through in March 2018.^[13][14]A partially-owned subsidiary, Diligent Media Corporation, is a publisher of Indian daily newspapers and websites. DMC is ajoint venture between Zee and theDainik Bhaskar Group.^[15]

In 2018, Zee launchedZee Theatre, which offers a collection of recorded theatre plays also called teleplay- produced in India and internationally.^[16]

In February 2019, media reported thatEssel Group was in talks to sell their shares from the Zee Entertainment Enterprises to save them from debt.^[17]

Top Sony officials including Mike Hopkins, chairman of Sony Pictures Television,^[17] andTony Vinciquerra, chairman ofSony Pictures, had visitedSubhash 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^[18] some other promoters^[19] were willing to sell their shares worth₹332 crore.
On 3 April media reported Sony and Zee Entertainment Enterprises deal off.^[20]

On 1 August media reportsInvesco Oppenheimer Fund to buy 11% stake in Zee Entertainment.^[21]

In September 2021, it was reported thatInvesco Developing Markets Funds and OFI Global China Fund LLC, who jointly holds a 17.88% stake, wantedPunit Goenka (also the son of founder) to step down as MD and CEO. It was also reported thatEssel Group owns a sum of 3.99% minority stake.^[22]

In 2024, Zee Entertainment Enterprises partnered with Sony Pictures Entertainment.^[23]

On 22 September 2021, the company announced its intent to merge withSony Pictures Networks India.^[24] Sony Pictures will hold a majority stake in the proposed merged entity, which will be headed by Zee's Punit Goenka.^[25] 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.^[26]

On 10 August 2023, theNational Company Law Tribunal approved the proposed Sony/Zee merger.^[27]

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 CEOPunit Goenka might step down, potentially resolving a major deadlock in the merger process.^[28] 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 21 January.^[29]

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 ofPunit Goenka, son of the Zee Network founder.^[30] However Zee board rejects a demand from Invesco to convene an extraordinary general meeting.^[31] Invesco Developing Market Funds Moves to National Company Law Tribunal (NCLT) andBombay 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.^[32][33]

Zee Board replied to Invesco's open letter saying they didn't care about the company, and Invesco was not motivated by concerns related to any corporate governance issue^[34] but "by the events that transpired during February–April 2021 pointing Invesco purposed deal withReliance Industries.^[35]

On 21 October,Bombay High Court asked 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 22 October.^[36][37]

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,^[38] so HC postponed hearing of the Zee-Invesco matter to 26 October. Also, on 26 October Bombay High Court had restrained Invesco from taking any action in furtherance of their requisition notice (to call an EGM).^[39]

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.^[40]

On 22 December, Board of Zee signed definitive agreements with Sony after received approval from its board of directors^[41]

Sonu Nigam alleged that he was banned by theZee Music Company after he tweeted in support of politicianKumar Vishwas.^[42][43][44]

In February 2016, Zee Entertainment Enterprises forayed into video-on-demand with the launch of its OTT platform OZEE.^[45]

On 14 February 2018, this service rebranded asZEE5.^[46] 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.^[47]

• bgr
• Mollywood
• cricket country
• The health site
• India.com
• Sugarbox
• Zee5X

• Zee Live
• Super moon, Arth, Edu care, It's A Girl Thing
• Zee Theatre

• Zee Studios^[50]
• Zee Plex (movie-on-demand service)^[51]
• Zee Music Company^[52]

• Official website

• Entertainment companies of India
• Film production companies based in Mumbai
• Television broadcasting companies of India
• Television production companies of India
• Television stations in Mumbai
• Indian companies established in 1991
• Entertainment companies established in 1991
• Essel Group
• Former News Corporation subsidiaries
• Television networks in India
• Television stations in Delhi
• Television stations in New Delhi
• Mass media companies based in Mumbai
• Companies based in Mumbai
• Mass media companies established in 1991
• Television channels and stations established in 1991
• Mass media companies of India
• Zee Entertainment Enterprises
• 1991 establishments in Maharashtra
• Companies listed on the National Stock Exchange of India
• Companies listed on the Bombay Stock Exchange
• Attempted mergers and acquisitions
• ZEE5

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