Top Story


Home >> International >> Article

Zee share closes at Rs 136 on stake sale reports

Font Size   16
Zee share closes at Rs 136 on stake sale reports

The stock price of Zee Telefilms Ltd., shot up to day's high of Rs 144 after company confirmed to the Asian Wall Street Journal that it is in talks with US media giant AOL Time Warner for a strategic partnership. Later it closed at Rs 136.80, higher by 1.15 per cent over its previous close.

Speculation that a deal with AOL is imminent has been spurring Zee's shares for the past few weeks.

Zee's share price has gained 38 per cent in the past one month. The media and stock markets have been rife with speculation that the firm had nearly struck a deal with AOL.

The Hindustan Times newspaper said in a report on Sunday that Zee would give a 10 per cent stake to AOL for over Rs 700 crore, offering optionally convertible warrants of Rs 175 each, convertible into equity shares of Re one each after 18 months.

AOL also had the option to only partially convert the warrants or not convert them at all, it said. AOL could also raise its stake to 26 per cent later, it said.

The firm has already struck a content-sharing deal with AOL company CNN for its Zee News channel.

Zee, which runs 14 channels and beams to 22.5 crore viewers worldwide, had announced in May that it planned to sell stake to an international media company to help globalise its operations and later appointed UBS Warburg to spearhead the search.


NP Singh, CEO of Sony Pictures Networks India, talks of SPN’s growth drivers, pay wall for content, sharing IP and more…

The future of the industry will be 1:1 advertising as traditional channels, like television, become more addressable: Bryan Kennedy, Epsilon

The Founder of Pocket Aces shared his insights on how the consumption of content has evolved and how digital media is growing as the preferred medium of entertainment.

The production house has already established itself as the leader in the non-scripted genres. However, Rege now wants Endemol to achieve the same in the original scripted zone and film production

A look at the South Indian movies which boosted the viewership of certain channels in week 45 (November 4-10)

The Indian advertising industry currently stands at Rs. 56,398 crore, predicted to grow at a rate of 14 per cent by 2017

Naidu also talks about the ushering in of a new era of digital payments and says this is just the beginning and there’s lots of space for newer players to step in and evolve