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Via statement in BSE, Zee denies reports of finalised deal with Reliance Broadcast

13-October-2016
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Via statement in BSE, Zee denies reports of finalised deal with Reliance Broadcast

Zee Entertainment Enterprises Ltd has denied that it has finalised an agreement to buy Reliance Broadcast as reported in some sections of media today. Zee issued the statement to the BSE after being asked for clarification regarding the deal.

“We, Zee Entertainment Enterprises Limited (ZEEL), wish to clarify that the said report/article is only media speculation. As a company we keep exploring options from time to time and will inform the exchanges/media/shareholders , if and as and when any such decision(s) are reached,” read the statement.

The media reports today morning stated that Zee has reached an agreement with Reliance Broadcast in a deal worth Rs 1,872 crore. According to media reports, both companies had restarted negotiations after initial talks failed in August this year.

A senior executive in Reliance Broadcast Network Limited (RBNL) also said that no deal has been finalised while a spokesperson from Zee said that the company does not comment on media speculation.

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