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Board to discuss Zee Telefilm restructuring plan in Feb

21-January-2002
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Board to discuss Zee Telefilm restructuring plan in Feb

The board of directors of Zee Telefilms will meet in February 2002 to discuss a new restructuring plan. The Zee Telefilms board is planning to reduce the number of subsidiaries from the current 23 to 11 or 12. The board will also consider appointing a consultant for this purpose.

The company is planning to expedite the restructuring exercise as several investors have complained about the company's complex structure.

The company will begin the exercise of uplinking some of its channels from India in the next few weeks. Some entities were set up for the purpose of uplinking and other related activities.

The company management had informed analysts last week that advertising revenues will improve as currently only companies with export earnings were allowed to advertise on satellite channels.

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