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Zee Entertainment Enterprises Ltd - Essel Group

Categories: Entertainment

I wish to thank my parents for their undivided support and interest who inspired me and encouraged me to go my own way, without whom I would be unable to complete my project. At last but not the least I want to thank my friends who appreciated me for my work and motivated me and finally to God who made all the things possible… Zee Entertainment Enterprises Ltd It is the second-largest Indian media and entertainment company based in Mumbai, Maharashtra.

It is a subsidiary of the Essel Group. The company’s Chairman, Managing Director and Founders are Subhash Chandra and its Chief Executive Officer is Puneet Goenka.

Through its strong presence worldwide, Zee entertains over 670+ million viewers across 168 countries. History The company was launched on 15 December 1991 and was previously known as Zee Telefilms until 2006, when it was renamed and the news and entertainment units were spun off into four smaller divisions. Zee currently operates over 15 different television channels, a cable company Siticable, a record label Zee Records, a production company and other businesses as well.

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It has expanded operations abroad, with several of its channels available in the UK and U. S. s well as Africa and Asia. In 2002 Zee Entertainment Enterprises acquired a majority stake (51%) in ETC Networks. In 2006, they acquired Integrated Subscriber Management Services Limited and in November 2006, Zee acquired an interest (50%) in Taj television TEN Sports.

In February 2010 Zee Entertainment Enterprises acquired an additional stake (95%) in TEN sports. As Zee Telefilms, the company formed part of BSE Sensex from 2000-2005.

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The news and regional entertainment channel business was spun off into a separate company in 2006 under the corporate banner Zee News Ltd. 982 The Company was incorporated on 25th November, and it obtained the Certificate of Commencement of Business on 5th January 1983 as Empire Holdings Ltd. in the state of Maharashtra. It was promoted by the Essel group of companies, comprising Sanjay Badgamia, Vasant Parekh and Ashok Kothari. The main object of the company business was of entertainment software. 1992 It entered into the business of entertainment software and subsequently the name was changed to ZEE Telefilms Ltd. The Company co-promoted Essel Packaging Ltd. the partnership company of the Essel group in 1982.

The Company produces/develops Hindi films, serials, game shows, children programmes etc. The Company would also commission serials, game shows etc. , through directors/producers on contract basis, purchase rights of Hindi films, serials and other programmes from the producers for a predetermined period. 1993 ASSPL became a wholly owned subsidiary of the Company. During the year, the Company entered into an agreement with the Mauritius Broadcasting Corporation for supply of programme software to ZEE TV.

During August, the Company issued 89, 28,000 rights equity shares of Rs 10 each at a premium of Rs 20 per share in proportion 12:1. Another 90, 00,000 shares were offered at a premium of Rs 20 per share through prospectus as follows: 9, 00,000 shares and 27, 00,000 shares reserved for allotment to FIIs and NRIs (repatriation basis) respectively. Only 21, 90,300, shares were taken up by NRIs. Of the balance 10,000 shares reserved for allotment on preferential basis to employees (only 4,100 shares taken up).

Remaining 45, 90,000 shares along with 5, 15,600 shares not taken up were issued to the public (of these 4, 98,000 shares taken up by FIIs and 17,600 shares by public). 1994 The Company promoted Siti Cable Venture for provision of integrated cable network facility to individual cable operators on a city by city basis and function as a city TV station. The Company also proposed to develop Pay TV industry and with this in view is jointly promoting Zee Cinema, the first Hindi movie Pay TV Channel along with the News Corp 995 The Company along with NewsCorp’s promoted another company viz. Programme Asia Trading Company Private Ltd. (PATCO) for programme supplies to EL TV and Zee Cinema Channel. Asia Today Ltd. and Zee Telefilms Ltd. entered into a sale and purchase agreement for production, procurement and provision of Hindustani entertainment software from India and export the same to Hong kong for transmitting such software on ZEE TV Channel. 1996 Pref. shares redeemed during this year. 1997 3, 00,000 pref. shares were issued.

Walt Disney animation films will be telecast every day for two hours on Zee TV from February 1 following an agreement reached between Buena Vista Television India and Zee. In order to bring the first of its kind `Zee Cine Awards’ to millions of TV viewers across the globe, the Zee Network has tied up with the 150-year old world audit major, Price Waterhouse (which incidentally is the auditing firm for the Oscar awards also) and the market research firm Gallup MBA. 1999 As part of its expansion plans, ZTL will increase its authorised capital from Rs 50 to Rs 75 crore.

Zee Telefilms Ltd (ZTL) shareholders approved an increase in the company’s authorized share capital from Rs 50 crore to Rs 75 crore to safeguard itself from any fund shortfall required for the ambitious projects envisaged in the face of technological convergence. Subhash Chandra-promoted Zee Telefilms Ltd (ZTL) has tied up with French major Canal Plus for its proposed digital TV service, a precursor to a KU-band direct-to-home (DTH) service. ZEE TV will launch three new channels in Europe and start broadcasts in eight regional languages in India during an action-packed six months expansion programme.

Zee Telefilms Limited (ZTL) will soon launch three English language channels, including a news channel called the Asian News Network, thus taking head-on its partner-turned-competitor Star TV. Zee TV up to 1999 has been operating four channels, three of which were being played out of STAR TV facility in Hong Kong on lease basis. With the growth of the network into eleven channels, the launch of the DTO bouquet and the Alpha channels including the English channels, a decision was taken to install a fully owned facility in Singapore which can play-out ten channels.

This facility was set up in a record time of three months and has been fully operational since middle of March 2000. In September 1999, ZTL acquired Zee Multimedia Worldwide Limited (ZMWL). Following this acquisition, all the international operations including the broadcasting business of ZMWL came under ZTL’s control. ZTL acquired NewsCorp’s 50% stake in Asia Today Limited (ATL), Siticable, and Programme Asia Trading Company Ltd. and now owns 100% of these businesses. The consideration paid for the acquisition was USD 296. 51 million 2000

Zeenext. com, the Internet portal site of the company subsidiary EConnect India Ltd, and mobile Internet firm Unimobile. com that they had tied up to offer zee next portal contents to wireless communication devices. Zee Telefilms has emerged as the new market mover on Dalal Street. Zee Telefilms signed a MoU with Asia net Communication Ltd. for consolidating Zee’s entry into the South Indian regional channels. Zee Telefilms will set up 500 Internet kiosks, named eZee centres, across the country as part of its e-commerce initiatives, senior company.

Zee Telefilms has been awarded the prestigious Ground Breaker award as the top national programmer by the US-based trade publication, Multichannel News International. Media and entertainment major Zee Telefilms has acquired 26 per cent stake in Aplab Ltd, an electronic equipment market. Zee Telefilms will launch Basic Education Support Television in April 2001 – a project aimed at educating the rural India through the television medium. Zee Telefilms Ltd’s American Depository Receipts/American Depository Shares issue worth . billion. Zee Telefilms Ltd aims at a 1:1 debt-equity ratio for its Rs. 2,400 crore outlay to set up a fibre-optic and coaxial network across 26 cities in the country. – The Company and TransWorld International have joined their bids for the telecast rights for the cricket World cup tournaments for 2003 and 2007. Zee Telefilms subsidiary Zee Publishing has been hived off as a separate company. Zee Telefilms Ltd will be launching its sports channel, tentatively christened, zee Sports, on 1st October.

Zee Telefilms Ltd. will float a new joint venture company with the Hollywood studio, Metro Gold-wyn Mayer Inc (MGM) to operate aco-branded movie channel exclusively for the South Asian market 2001 In May, 2001, Zee Telefilms has decided to induct a strategic partner, preferably an international media major to strengthen its financial and technical strengths to achieve high growth in the field of convergence. ZTL has converted its flagship Zee TV into a pay channel with effect from 10 June 2001. 2002

Zee Telefilms has come out with Open offer to acquire 23,39,900 fully paid-up equity shares of Rs 10/- each of ETC Networks. It represents 20% of the voting equity share capital at a price of Rs 31. 52/- per fully paid up equity share. The issue opens on 3rd Apr. 2002 and closes on 3rd May 2002. Zee Telefilms Ltd has informed that Zee TV Partners Cartoon Network, Snap Ties with Nickelodeon. Zee Telefilms took a controlling stake in ETC Networks in June 2002, following a memorandum of understanding (MoU) signed between the two companies in February this year.

As per the MoU, Zee was to acquire 57 per cent in ETC in two stages for Rs 25 crore. 2003 Zee News is attempting to give a full perspective of the stories by Following them to the cores. In this regard, it has launched a new programme, known as Zee Follow Up. The new programme will pick up the loose string of hundreds of stories that once made headlines but somewhere down the line lost their steam. Zee News is attempting to retrace history by keeping the viewers abreast of what had occurred since, the report said.

Decides to persist with its plan of showing Thursday Bollywood blockbusters Hits upon a new income stream to boost revenues by permitting other international news channels to beam its exclusive footage and programmes for a fee. Delgrada, an overseas corporate body owned by the promoters of ZEE Telefilms, pledges an additional 3. 1 crore shares or 7. 6% of the equity capital of Zee Telefilms held by it in favour of Credit Suisse First Boston, Singapore Mumbai High Court stays Zee TV’s daily and Sunday lottery draws Share price slumps to four-year low of Rs 60. 5 on 01/04/2003 Zee News starts new programme ‘Zee Follow up’ through which it is attempting to retrace history by keeping the viewers abreast of what had occurred since Zee, Turner International expand partnership with 3 new channels wherein Turner will be the advertising sales agent for Zee’s English entertainment and lifestyle channels, Zee English, Zee MGM and the recently unveiled Trendz channel Announces its la carte price list for bundling channels Govt cancels Zee Telefilms plea for bundling its channels

Promoters’ stake in Zee comes down to below 51-pc, stands at 50. % Zee News launches a new logo and a new advertising campaign with the baseline ‘Haqeeqat Jaisi, Khabar Waisi’ Foreign shareholdings in Zee Telefilms surge to 58% Promoters of Zee offload 3% shares to FIIs Zee becomes first to get Letter of intent for DTH operation in India 2004 ? Zee announces launch of new religious channel ‘Jagran’ ? Churu Trading Co. Pvt. Ltd, has purchased 3415518 equity shares of the Company from Livewire Programme Trading Co. Pvt. Ltd. Zee Telefilms announced the launch of a separate encrypted beam for Singapore ? BT Broadcast, ASCEL join hands to offer teleport services to Zee 2005 ? Zee Telefilms Ltd launches separate sports channel. ? Zee Tele teams up with IBM Global. ? Zee Network in alliance with Pan Global TV. ? Zee join hands with Malaysia’s Astro to launch Hindi channel. ?

Zee TV has announced the launch of an interactive game show Kam Ya Zyaada. 2006 ? Zee Telefilms acquires 50% stake in Ten Sports. ? Zee Network launches new channel in Indonesia. Zee to acquire 60 pc stakes in Venus Films. 2007 Zee Telefilms Ltd has informed that consequent to all approvals having been received the name of the Company, effective from January 10, 2007, has changed to Zee Entertainment Enterprises Ltd. Zee Entertainment Enterprises Ltd has informed that the Board of Directors, vide a resolution passed by circulation on December 29, 2007, has approved the appointment of Mr. R Vaidyanathan, Professor of Finance and Control at the Indian Institute of Management, 2009

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Zee Entertainment Enterprises Ltd - Essel Group. (2018, Sep 14). Retrieved from https://studymoose.com/zee-entertainment-enterprises-ltd-essel-group-essay

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