INSUBCONTINENT EXCLUSIVE:
MUMBAI: Subhash Chandra promoted Zee Entertainment Enterprises (ZEEL) decided to run a share-sale process after a global media giant made an
told TOI.
Zee Entertainment, in which promoters last week announced plans to sell up to half of their 42 per cent holding, has asked
advisers Goldman Sachs and LionTree to open up the process to only select suitors, Goenka added
He said the promoter family had no plans to exit the business, although several investment bankers believe the promoters might agree to
Goenka said during a free-wheeling chat
He said Zee had run a process to induct a strategic or financial partner in Zee5, its over-the-top (OTT) platform, but the potential
unique users and looking to become an OTT leader in the near future
Communications, Sony, Alibaba, Google and Apple as potential suitors
Goenka said the promoters would give greater weightage to the nature of strategic partnership than value-maximisation in the share-sale
A foreign buyer, though allowed to own 100 per cent in entertainment media companies, would want a local partner and management team to run
The Mumbai-headquartered company is tracking an EBITDA, or operating profit, of about $350 million this fiscal
If a Comcast or another global telecom-cum-content giant were to buy into Zee, it would reset the Indian media convergence narrative, even
per cent of the promoter holding in Zee Entertainment was pledged to lenders
