Zee Telefilms plans to reduce the number of its subsidiaries for maximising synergies from about 20 to between 10 and 12 in the next couple of months. This move would help to align the businesses of the media giant under three broad heads: Content, access and education -- as proposed by management consultants AT Kearney.
Taking up the example of Zee's access business, Rajesh Jain, president (corporate finance and strategy) of Zee Telefilms said this business comprises Siti Cable which is a wholly-owned subsidiary of Zee Tele. Siti Cable, meanwhile, has a wholly-owned subsidiary called Zee Interactive Multimedia. The company plans to merge these two companies to bring the access function under one umbrella.
While the education business is conducted via a single company called Zee Interactive Learning Systems, all the remaining subsidiaries perform the crucial content business, both in India and overseas, he said.
The move by Zee Telefilms to further rationalise its large number of subsidiaries follows the divestment of its stake last year in three subsidiaries - Buddha Films, Zee Sports and Zee Publishing.