MUMBAI: Subhash Chandra-owned Zee Entertainment Enterprises NSE -2.92 % (ZEE) has posted a net profit of Rs 292.5 crore for the final quarter of the financial year ended March 31, 2019, a jump of 26.8% over the corresponding quarter of the previous fiscal. Zee Entertainment’s scrip closed 13.28 per cent higher on BSE on Wednesday, while YES Bank’s shares ended the day at a gain of 4.99 per … [53] Incorporated in 1958, the company did not begin operating until 2010. [54] Zee Learn founded the private school chains of Kidzee preschools and Mount Litera Zee K–12 schools. In case you canât find any email from our side, please check the spam folder. Zee … [57] The group owns and operates the amusement parks of "Essel World" and "Water Kingdom" in Mumbai. Name. It is amongst the largest producers and aggregators of entertainment content in the world with an extensive library housing over 250000 hours of television content. [15][13] Zee TV was the first Hindi Language satellite channel in India. [8] Chandra is part of the Goenka (Goel) family which owns and operates the group, he is also the chairman of the company and a Bharatiya Janata Party backed member of the Rajya Sabha. The board accepted his resignation and noted that this is in line with the requirements of Regulation 17 (lB) of Sebi Listing Regulations, which inter alia mandates that the chairperson of the board shall not be related to the managing director or the chief executive officer of the company," the company said in its stock market filing. ZEEL is a subsidiary of the Essel Group, which also owns satellite TV operator Dish TV and newspaper Daily News and Analysis . âWhile Shri Chandra stepped aside from the chair, he also expressed the desire to step aside as a board member," the release said. [9], In 1926, Jagannath Goenka founded the Messrs Ramgopal Indraprasad as a commercial firm to deal in food grains at the mandi (Product market) in Adampur, Hisar. You can view name of Chairman, CEO, CFO, Management Team, Board of Directors and Key Executives of Zee Entertainment Enterprises Ltd. Management. Zee Entertainment Enterprises Limited produces and develops Hindi films, serials, game shows and children's programs. It was launched in India on 14 February 2018 with content in 12 languages. Zee Entertainment Enterprises Limited is one of India’s leading television, media and entertainment companies. It was promoted by the Essel group of companies, comprising Sanjay Badgamia, Vasant Parekh and Ashok Kothari. If the entire pledged holding is sold off, Chandra will be left with 0.89% stake in Zee. MUMBAI : Established in 1994 as a subsidiary of the Zee Telefilms Ltd (later renamed to Zee Entertainment Enterprises),[15] it was founded as a separate company of the Essel Group following the de-merger of the Zee Telefilms in 2006. [15][19] The momentary market dominance of Zee News was also broken with the emergence of competition from channels such as Aaj Tak, STAR News and later NDTV after its own separation from Star News. Change (% chg) Rs2.90 (+1.50%) [10] The Essel World was opened in 1989 which became the first amusement park in India. [36][37] The Essel Group has divested a part of its shares in the company for the repayment of pending dues, reducing its stake in the company to 22.37% with much of the remaining stake still pledged as collateral to the remaining dues. [22], DishTV India Limited (abbreviated as DTIL, stylised as dishtv) is a Direct to Home (DTH) television provider company which provides DTH service through multiple brands such as Dish TV, d2h and Zing Digital. It is amongst the largest producers and aggregators of Hindi programming in the world, with an extensive library housing over 80,000 hours of television content. It launched its own private cricket league, the Indian Cricket League which held two seasons between 2007–2009 but the league failed to gain traction. [24] The Essel Group also launched the Mumbai Football Club in 2007[25] which became by defunct by 2019. [59] The group also operates the online lottery Playwin in Sikkim. It operates the subsidiaries of Zee Media Corporation, Zee Entertainment Enterprises, Dish TV and Siti Networks. [52] In 2019, The Blackstone Group group acquired a majority stake in the company for US$310 million during the Essel Group's assets sale for the repayment of debts. [33] The Zee Entertainment Enterprise also owns and operates the record label of Zee Music Company and the film studio of Zee Studios. Four days after selling a stake in Indiaâs largest listed television network, Subhash Chandra, who founded Zee Entertainment Enterprises Ltd (ZEEL) in 1992, has stepped down as chairman of the company, paving the way for the companyâs transition to an institutionally managed entity. Following the acquirement of the storage contract with the FCI in the same year, the firm under Subhash Chandra set up the Lamina Packers as a manufacturer of packaging materials. [61], "Sangh backs Zee in its fight for survival (IANS Exclusive)", "Essel Group in talks to raise $400 million to refinance debt", "India Inc's Crown Jewels At Risk- Business News", "Sudhanshu Vats Appointed CEO And MD At Essel Propack", "Subhash Chandra may lose say in Zee Entertainment", "From 'Okara Dukaan' to Zee… the complete story", "Subhash Chandra: interesting facts of chairman of the essel group", "Entertainment Inc.: The story of Zee, one of India's first Hindi satelite channels", "Subhash Chandra makes television history with Zee TV began life running a flour-mill", "There and back again: Subhash Chandra and the Zee TV story", "10 years of DTH in India: The other electronics revolution", "Zee Entertainment and Turner International to work independently", "Zee Media Corporation History | Zee Media Corporation Information", "ZEE sells Ten Sports to Sony for $385 mn", "ISL: Pratik Chowdhary set to sign for Mumbai City FC | Goal.com", "Why Subash Chandra had to Resign as Chairman of Zee", "Zee sells 11% stake to clear debt, still short of Rs 6,800 crore", "We want to Transform into an all round media company punit goenka", https://www.moneycontrol.com/india/stockpricequote/mediaentertainment/zeeentertainmententerprises/ZEE, "Zee's FY19 earnings may aid better valuation", "ZEEL jumps after foreign fund buys stake", "Zee to launch movie channel under new brand '& pictures, "ZEE Entertainment launches new Hindi General Entertainment Channel '&TV' - Times of India", "ZEE Acquires Anil Ambani-led Regional Channels Big Magic, Big Ganga", "Zee Music Company Teams Up With Sony Music Entertainment", "Zee Group launches two motion picture production banners", "Turner International appoints IndiaCast Media as its distribution agent", "Zee Entertainment stock falls 20% a day after ED summons Subhash Chandra", "Corporate Governance: Corp affairs ministry probes Zee Entertainment's books", https://www.moneycontrol.com/india/stockpricequote/mediaentertainment/zeemediacorporation/ZN, "Slowdown Blues: Zee Media profit drops 73% to Rs 13.17 crore in FY19", "Director Reports, Company Results of Zee Media Corp", "Netflix vs Prime Video vs Disney+ Hotstar vs Zee5 vs AltBalaji vs others: Subscription plans detailed", "DNA goes out of print 14 years after launch — rise & sudden fall of a promising newspaper", "KKR-backed EuroKids in talks to buy Kidzee for Rs 1,200 crore", "Dish TV India, Videocon d2h merger completed", "Dish TV and Videocon d2h merger gets CCI approval", "Lenders invoke shares of Essel group firms Dish TV, Siti Cable, Zee Learn", "Essel Packaging announces merger with Swiss major", "Essel Packaging in merger deal with Propack", "Zee launches kids edutainment channel ZeeQ", "Zee Learn dismisses scepticism over MT Educare buy, says working to expand product, brand reach", "Essel Group's E-City Ventures plans to add 350 screens in FY15", "Welspun Enterprises gains on acquiring BOT project from Essel Group", "Essel Group to build 2 lakh affordable homes by 2022", "Meet the first families of the growing theme and amusement parks segment in India", "Essel Group repays half the debt to MFs & NBFCs", https://en.wikipedia.org/w/index.php?title=Essel_Group&oldid=994149361#Zee_Entertainment_Enterprises, Conglomerate companies established in 1926, Pages with non-numeric formatnum arguments, All Wikipedia articles written in Indian English, Wikipedia articles needing factual verification from May 2020, Creative Commons Attribution-ShareAlike License, This page was last edited on 14 December 2020, at 09:06. In 1948, Jagannath Goenka attempted to expand his business by setting up a pulses polishing factory in Delhi which subsequently suffered heavy losses. The group has been reported to be encumbered with severe debt; a Businessworldarticle described the company as debt-rid… ZEE5, a video on demand website run by Zee Entertainment Enterprises, has entered into partnership with Kaltura, the leading video technology provider, for the deployment of the Kaltura TV Platform Player. [45], Siti Networks Limited (abbreviated as SNL; formerly Wire & Wireless India Limited; alternatively Siti Cable) is the multi-system operator of the Essel Group. Chandra will continue as a non-executive director, while his son will continue as MD and CEO of ZEEL, The resignation paves the way for the firmâs transition to an institutionally managed entity. By 1966, the firm was operating one dal mill and two cotton ginning factories. Post the share sale to several institutional buyers such as GIC and Blackrock, the shareholding of Subhash Chandra-controlled holding companies stood at about 5%, making ZEEL an institutionally owned company. This allowed Star India to produce programmes in Hindi in an attempt to target local audiences. Zee News Ltd (later renamed to Zee Media Corporation) became the news broadcasting subsidiary of the group while Wire & Wireless India Limited (later renamed to Siti Networks) became the cable distribution company of the group. [27] It owns a constellation of entertainment channels under the brand name of Zee and the channels under the brands of Living Entertainment, Big and "&". [45] Dish TV was launched on 2 October 2003 as the DTH provider of the Essel Group and was merged with Videocon D2H on 22 March 2018. [12][11][13], In 1992, the Essel Group incorporated the Zee Telefilms Ltd.[14] In the same year, Zee Telefilms entered into a joint venture called Asia Today Ltd with Star TV in order to lease a transponder from the AsiaSat satellite network. It launched its flagship television channel, Zee TV on 1 October 1992. [43] The corporation also runs the Zee Institute of Media Arts (ZIMA)[40] which is owned by Zee Learn, the schooling subsidiary of the Essel Group. Over the following years, the company launched a series of entertainment channels in competition with the Star India. real estate and infrastructure through the companies of E-City Ventures, Suncity Projects and Essel Infraprojects, respectively. Essel Group was not able to honour the repayment to VTB Capital, which forced the latter to secure the right to sell the pledged Zee shares. This forced him to abandon the establishment in Delhi and move the machinery to Hisar in 1951. [18], The partnership with the Star Network ended in 2000, following a buyout of Star India's shares in Asia Today Ltd by Zee Telefilms. [18][46] The Essel Group maintains a 55% stake in the company while the Videocon Group maintains a 45% stake. [49] Founded in 1982, the Essel Packaging Limited began commercial production between April–June 1983. The following year, the group also began investments for an amusement park in Mumbai. The Board of Directors of Zee Entertainment Enterprises at its meeting held on 14 October 2015 approved write-off of an investment of GBP 3.25 million (equivalent to Rs 33.06 crore) made by Asia Today Limited, a wholly owned overseas subsidiary of the company, in 2013 for acquiring minority stake in MirriAD Ltd., UK. It was demerged as a separate company of the Essel Group in 2006. On 21 November, a clutch of institutional investors bailed out the promoters of ZEEL by buying a 15.7% stake in the company, helping Chandra repay lenders more than â¹11,000 crore of promoter debt. ZEE, today, is the global entertainment go-to, with an integrated team creating and serving extraordinary content. [42], It was involved in a joint venture with the Dainik Bhaskar Group for the publication of the Daily News & Analysis newspaper but the paper was discontinued in 2019 after suffering loses. Company History - Zee Entertainment Enterprises 1982 - The Company was incorporated on 25th November, and it obtained the Certificate of Commencement of Business on 5th … Invesco Oppenheimer acquired 11% stake in the company while the stake of the Essel Group firms was reduced to 22.37%. Effective immediately, Punit Misra, Amit Goenka, Shariq Patel, Anurag Bedi and Rahul Johri will report to Punit Goenka, MD and CEO, ZEE Entertainment Enterprises Limited. [11] Though the amusement park did not provide sufficient returns, it marked the beginning of the group's venture into the entertainment industry. Essel Group (alternatively referred to as the Zee Group[2]) is an Indian conglomerate holding company and corporate promoter headquartered in Mumbai, Maharashtra, India. [4][5] The group has been reported to be encumbered with severe debt; a Businessworld article described the company as debt-ridden. Of this, 96% was pledged. [8][non-primary source needed], In 1967, the business suffered a series of losses leaving the Goenka family at a net deficit of ₹600,000 (equivalent to ₹26 million or US$360,000 in 2019). The Essel Group retained a 34% equity stake in the company while Propack held a 22% equity stake. [44] The company also promotes and operates the ZeeQ channel of the Zee Entertainment Enterprises. The bulk of the investor queries were focused on … [7][28], The Zee Entertainment Enterprises Limited (abbreviated as ZEEL; formerly Zee Telefilms Limited) is the media and entertainment broadcasting company of the Essel Group. Click here to read the Mint ePaperMint is now on Telegram. [6], The Zee Learn Limited (abbreviated as ZLL; informally referred to as Zee Schools) is the for-profit education company of the Essel Group. The main object of the company the business of. Independent Director. Zee TV and its sister channels are operated by Zee Entertainment Enterprises, a subsidiary of the Essel Group. Know all about Zee Entertainment Enterprises Limited including company news, people and financial results only on the official corporate website. [44], The Zee Media Corporation was formerly a subsidiary of the Zee Telefilms Ltd (later renamed to Zee Entertainment Enterprises) and existed under the name of Zee News Limited. You are now subscribed to our newsletters. In 1946, the firm ceased operations in Adampur and was moved to the town of Hisar as a result of poor business in Adampur. Contents. [21] Zee Telefilms Ltd and Zee News Ltd would be renamed to Zee Entertainment Enterprises Ltd in 2007 and Zee Media Corporation Ltd in 2013, respectively. [8] The company was merged with the Swiss tube packaging company Propack in 2000. [8] Essel Packaging was the venture of the Essel Group into the packaging industry with the primary product being laminated tube units. [58] The Shirpur Gold Refinery uses the brand name of Zee Gold in a joint venture with the Essel Group for the marketing of the refinery's products; the Essel Group gets royalties of 20% on the net profit for the brand usage. ... And taking the next big leap into the future of entertainment with ZEE 4.0. entertainment software. Zee Unimedia, Zee Digital Convergence, India Webportal and Zee Network Distribution to another wholly owned subsidiary Company i.e. [26], The joint distribution venture with Turner India was ended in 2018. [46] The company is also partnered with The Times Group owned MX Player for streaming services. Zee Entertainment Enterprises Ltd (ZEE.NS) Related Topics: Stock Quotes; Broadcasting; ZEE.NS on National Stock Exchange of India 195.65 INR 1 Dec 2020. [13] In 2006, two subsidiaries of the company were de-merged from the Zee Telefilms Ltd and segregated as distinct ententes under the Essel Group. [10][8], In December 1982, the Essel Packaging (later renamed to Essel Propack) was incorporated. ZEE ENTERTAINMENT ENTERPRISES LIMITED is located in Mumbai, Maharashtra, India and is part of the Wired Telecommunications Services Industry. By 1994, the channel had captured 65% of the satellite market share. [6] As a result, it has conducted several assets sale including the sale of Essel Propack and stake sales of Zee Entertainment Enterprises. The incoming directors are R. Gopalan, an IAS officer with stints in the ministry of commerce and industry, Surendra Singh, a retired IPS officer; and Aparajita Jain, executive director of Nature Morte Art Ltd, a leading contemporary art gallery. Chandra will, however, continue as a non-executive director on the companyâs board, while his son Punit Goenka will continue as managing director and chief executive officer of ZEEL. From giving India its first private satellite TV channel in 1992, to reaching 1.3 billion viewers around the world through linear and digital platforms. It is amongst the largest producers and aggregators of Hindi programming in the world, with an extensive library housing over 100,000 hours of television content. In 2004, it was able to briefly secured the rights for cricket broadcasting from the Board of Control for Cricket in India (BCCI) but the contract was terminated following a legal complaint over the conduct of the rights auction. Thursday was the final meltdown for Zee Entertainment Enterprises Ltd (ZEEL). [35] The company was involved in sports broadcasting between 2004–2016. The reconstituted board consists of six independent directors and two members from the Essel Group, Subhash Chandra and Punit Goenka. [34], The company was incorporated in 1992 as the Zee Telefilms Limited, the Essel Group's venture into mass media. Headquartered in Mumbai, it has interests in television, print, internet, film, mobile content and allied businesses. Zee Entertainment Enterprises (formerly Zee Telefilms) is an Indian mass media company owned by Essel Group. [16] In 2002, Zee Telefilms entered into a joint venture with Turner Broadcasting System for the distribution of channels under unified subscription packs which offered Turner channels such as Cartoon Network, Pogo, HBO, etc alongside Zee Network channels. [21], Between 2002–2018, the Zee Entertainment Enterprises was involved a joint venture with american distribution brand Turner India for the distribution of channels in India, Nepal and Bhutan. Sony Corp. is among the contenders who are in talks to acquire a stake in leading Indian media giant Zee Entertainment Enterprises, ... Fox-owned Star India network in 2013. Over the following years, the market share of the Zee Network was overshadowed with increasing competition in broadcast industry from both international and regional broadcasters. [21] The company operates a constellation of news channels under the brand name of Zee including the English language news channel WION. Management Team of Zee Entertainment Enterprises Ltd. Company including its chairman, board of directors and other executive at Zee Entertainment Enterprises Ltd. Organisations. The Board of Zee Entertainment Enterprises at its meeting held on 18 August 2020 has approved the sale of 100% equity shares held in four wholly owned subsidiaries of the Company i.e. According to BSE data, at the end of September, the promoter group held a 22.37% stake in ZEEL. [20] In 2006, the Zee Telefilms Ltd was de-merged and segregated into three companies; Zee News Ltd (later renamed to Zee Media Corporation), the news broadcasting undertaking of the group, Wire & Wireless India Ltd (later renamed to Siti Networks), the cable distribution subsidiary of the group and Zee Telefilms Ltd which remained the direct consumer broadcasting undertaking of the group. [7], The Zee Media Corporation Limited (abbreviated as ZMCL; formerly Zee News Limited) is the news broadcasting company of the Essel Group. By 1982, with the help of the contracts with the FCI and the Russian export contract, the net worth of the company had gone over ₹100 crore (equivalent to ₹129 crore or US$18 million in 2019) – per estimation made in 2014. Essel Group companies together owe an additional â¹11,400 crore, according to a 5 October Mint report. [23] In 2016, it sold off all its sports broadcasting assets in the venture to Sony. As of 2019, it had more than 1,900 Kidzee preschools and 120 Mount Litera Zee schools across India and three institutes of higher education; the Zee Institute of Media Arts (ZIMA), Zee Institute of Creative Arts (ZICA) and the Himgiri Zee University, Dehradun (HZU). Zee Entertainment Enterprises Ltd. 135, Dr. Annie Besant Road, Worl MUMBAI 400013 P: +9122.71061234 F: +9122.23002107 Zee Entertainment Enterprises Limited is a media group organized around 4 areas of activity: - advertising services (63.5% of net sales); - subscription services (29.1%); Following which, the new units began operating in Hisar and were able to turn consistent profits by selling polished whole grains to Gujarat and South India. ZEE5 is an Indian video on demand service run by Essel Group via its subsidiary Zee Entertainment Enterprises. [20] By 2019, Zee Entertainment Enterprises Limited (ZEEL) was the only profit generating company of the Essel Group while the group had accumulated an overall debt of around ₹20,000 crore (US$2.8 billion). Adesh Kumar Gupta. [15] The group also launched the first direct-to-home television in India through its subsidiary Dish TV on 2 October 2003. Designation. Punit Goenka has been the CEO of Zee Entertainment Enterprises Limited since 2008, and this article will examine the executive's compensation with respect to the overall performance of the company.This analysis will also look to assess whether the CEO is appropriately paid, considering recent earnings growth and investor returns for Zee Entertainment Enterprises. On 5 November, Mint first reported that Chandra may lose say in Zee Entertainment as a clutch of asset managers, non-bank lenders and foreign portfolio investors, who had extended loans to Zeeâs promoter group companies against share pledges, planned to put their pledged shares in an escrow account in preparation for a sale. [47] It became the largest DTH provider in India after the merger. [55] The student coaching firm MT Educare became a subsidiary of Zee Learn following an acquisition in May 2018. Log in to our website to save your bookmarks. [50][51] As of 2009, the company had a global market share of 33% in the toothpaste tube packaging industry. [3] The company has had business interests in mass media, broadcasting infrastructure and packaging. The lenders had initiated discussions with potential bidders, including strategic investors, to sell the bulk of the pledged shares. It launched the Zee News channel in 1998, which became the first 24x7 Hindi Language news channel in India. The company has had business interests in mass media, broadcasting infrastructure and packaging. It operates the subsidiaries of Zee Media Corporation, Zee Entertainment Enterprises, Dish TV and Siti Networks. Essel Vision Productions (EVPL). [10], In 1976, the company was renamed as the Essel Group. âIn light of the changes in shareholding, Mr. Subhash Chandra has expressed his intention to resign as chairman of the board with immediate effect. In a series of block deals, chairman and founder Subhash Chandra and his family sold 15.7 per cent of … Essel Group (alternatively referred to as the Zee Group ) is an Indian conglomerate holding company and corporate promoter headquartered in Mumbai, Maharashtra, India. [8] By 1973, the control of the company was handed over to Subhash Chandra, the grandson of Jagannath Goenka. However, people in the know said that more nominee directors from new investors, along with the new chairman, will be announced in the coming days. Zee Entertainment Enterprises Limited, abbreviated as ZEEL, is the largest television network in India entirely owned by an Indian company, and the second-largest overall, behind Star India (a subsidiary of The Walt Disney Company ). Companies owned by Subhash Chandra Zee Entertainment Enterprises Limited Zee Entertainment Enterprises Limited is one of India’s leading television, media and entertainment companies. 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