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ZEEL Board okays 9X channel acquisition

21-April-2010
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ZEEL Board okays 9X channel acquisition

The Board of Directors of Zee Entertainment Enterprises Ltd (ZEEL), at the meeting held on April 20, 2010, in principle approved the acquisition of 9X general entertainment channel business from INX Media Pvt Ltd by way of a Scheme of Arrangement, under which the 9X channel business undertaking would be demerged from INX and vested with ZEEL.

The deal was subject to appropriate statutory and regulatory approvals. The Board would meet again on April 29, 2010 to consider the terms of the scheme, share swap ratio, appointed date, and so on.

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Kranti Gada joined the family business at Shemaroo in 2006 after a successful stint of over two years in marketing at Pepsi Co. She has been associated with the company for 12 years.