STAR Den and Zee Turner have finally spoken on the distribution joint venture between the two companies. The 50:50 JV is called Media Pro and includes four companies – Zee Entertainment, STAR India, Turner India and DEN. Arun Kapoor (Essel Group) heads the JV as CEO and Gurjeev Singh (DEN) is the COO.
ZEEL has reported a net profit of Rs 1,464 million for the third quarter ending December 31, 2009, a 74 per cent increase as compared to Rs 839 million in Q3 FY209. Meanwhile, the company’s Board of Directors has also approved the proposal to acquire additional 45 per cent stake in its subsidiary, Taj TV Ltd Mauritius and additional 50 per cent stake in its subsidiary, Taj Television (India) Pvt Ltd, from Bukhatir Group for $44.145 million.