The main object of the company the business of. [10], In 1976, the company was renamed as the Essel Group. [8] By 1973, the control of the company was handed over to Subhash Chandra, the grandson of Jagannath Goenka. [40] The Zee News channel is the flagship channel of the company. [34], The company was incorporated in 1992 as the Zee Telefilms Limited, the Essel Group's venture into mass media. Effective immediately, Punit Misra, Amit Goenka, Shariq Patel, Anurag Bedi and Rahul Johri will report to Punit Goenka, MD and CEO, ZEE Entertainment Enterprises Limited. This allowed Star India to produce programmes in Hindi in an attempt to target local audiences. [49] Founded in 1982, the Essel Packaging Limited began commercial production between April–June 1983. By 1966, the firm was operating one dal mill and two cotton ginning factories. The Board of Zee Entertainment Enterprises at its meeting held on 18 August 2020 has approved the sale of 100% equity shares held in four wholly owned subsidiaries of the Company i.e. The incoming directors are R. Gopalan, an IAS officer with stints in the ministry of commerce and industry, Surendra Singh, a retired IPS officer; and Aparajita Jain, executive director of Nature Morte Art Ltd, a leading contemporary art gallery. Change (% chg) Rs2.90 (+1.50%) Essel Vision Productions (EVPL). The ZEE5 mobile app is available on Web, Android, iOS, Smart TVs, among other devices. [21], Between 2002–2018, the Zee Entertainment Enterprises was involved a joint venture with american distribution brand Turner India for the distribution of channels in India, Nepal and Bhutan. Four days after selling a stake in India’s largest listed television network, Subhash Chandra, who founded Zee Entertainment Enterprises Ltd (ZEEL) in 1992, has stepped down as chairman of the company, paving the way for the company’s transition to an institutionally managed entity. ZEE5 claimed 56 million monthly active users in December 2019. [46] The company is also partnered with The Times Group owned MX Player for streaming services. Over the following years, the market share of the Zee Network was overshadowed with increasing competition in broadcast industry from both international and regional broadcasters. ... And taking the next big leap into the future of entertainment with ZEE 4.0. [10][8], In December 1982, the Essel Packaging (later renamed to Essel Propack) was incorporated. You are now subscribed to our newsletters. The following year, the group also began investments for an amusement park in Mumbai. [7], The Zee Media Corporation Limited (abbreviated as ZMCL; formerly Zee News Limited) is the news broadcasting company of the Essel Group. MUMBAI : [23] In 2016, the group pulled out of the sports broadcasting industry selling off all its assets to Sony. On 5 November, Mint first reported that Chandra may lose say in Zee Entertainment as a clutch of asset managers, non-bank lenders and foreign portfolio investors, who had extended loans to Zee’s promoter group companies against share pledges, planned to put their pledged shares in an escrow account in preparation for a sale. [45] Dish TV was launched on 2 October 2003 as the DTH provider of the Essel Group and was merged with Videocon D2H on 22 March 2018. Post the share sale to several institutional buyers such as GIC and Blackrock, the shareholding of Subhash Chandra-controlled holding companies stood at about 5%, making ZEEL an institutionally owned company. As of 2019, it had more than 1,900 Kidzee preschools and 120 Mount Litera Zee schools across India and three institutes of higher education; the Zee Institute of Media Arts (ZIMA), Zee Institute of Creative Arts (ZICA) and the Himgiri Zee University, Dehradun (HZU). Chandra will, however, continue as a non-executive director on the company’s board, while his son Punit Goenka will continue as managing director and chief executive officer of ZEEL. [61], "Sangh backs Zee in its fight for survival (IANS Exclusive)", "Essel Group in talks to raise $400 million to refinance debt", "India Inc's Crown Jewels At Risk- Business News", "Sudhanshu Vats Appointed CEO And MD At Essel Propack", "Subhash Chandra may lose say in Zee Entertainment", "From 'Okara Dukaan' to Zee… the complete story", "Subhash Chandra: interesting facts of chairman of the essel group", "Entertainment Inc.: The story of Zee, one of India's first Hindi satelite channels", "Subhash Chandra makes television history with Zee TV began life running a flour-mill", "There and back again: Subhash Chandra and the Zee TV story", "10 years of DTH in India: The other electronics revolution", "Zee Entertainment and Turner International to work independently", "Zee Media Corporation History | Zee Media Corporation Information", "ZEE sells Ten Sports to Sony for $385 mn", "ISL: Pratik Chowdhary set to sign for Mumbai City FC | Goal.com", "Why Subash Chandra had to Resign as Chairman of Zee", "Zee sells 11% stake to clear debt, still short of Rs 6,800 crore", "We want to Transform into an all round media company punit goenka", https://www.moneycontrol.com/india/stockpricequote/mediaentertainment/zeeentertainmententerprises/ZEE, "Zee's FY19 earnings may aid better valuation", "ZEEL jumps after foreign fund buys stake", "Zee to launch movie channel under new brand '& pictures, "ZEE Entertainment launches new Hindi General Entertainment Channel '&TV' - Times of India", "ZEE Acquires Anil Ambani-led Regional Channels Big Magic, Big Ganga", "Zee Music Company Teams Up With Sony Music Entertainment", "Zee Group launches two motion picture production banners", "Turner International appoints IndiaCast Media as its distribution agent", "Zee Entertainment stock falls 20% a day after ED summons Subhash Chandra", "Corporate Governance: Corp affairs ministry probes Zee Entertainment's books", https://www.moneycontrol.com/india/stockpricequote/mediaentertainment/zeemediacorporation/ZN, "Slowdown Blues: Zee Media profit drops 73% to Rs 13.17 crore in FY19", "Director Reports, Company Results of Zee Media Corp", "Netflix vs Prime Video vs Disney+ Hotstar vs Zee5 vs AltBalaji vs others: Subscription plans detailed", "DNA goes out of print 14 years after launch — rise & sudden fall of a promising newspaper", "KKR-backed EuroKids in talks to buy Kidzee for Rs 1,200 crore", "Dish TV India, Videocon d2h merger completed", "Dish TV and Videocon d2h merger gets CCI approval", "Lenders invoke shares of Essel group firms Dish TV, Siti Cable, Zee Learn", "Essel Packaging announces merger with Swiss major", "Essel Packaging in merger deal with Propack", "Zee launches kids edutainment channel ZeeQ", "Zee Learn dismisses scepticism over MT Educare buy, says working to expand product, brand reach", "Essel Group's E-City Ventures plans to add 350 screens in FY15", "Welspun Enterprises gains on acquiring BOT project from Essel Group", "Essel Group to build 2 lakh affordable homes by 2022", "Meet the first families of the growing theme and amusement parks segment in India", "Essel Group repays half the debt to MFs & NBFCs", https://en.wikipedia.org/w/index.php?title=Essel_Group&oldid=994149361#Zee_Entertainment_Enterprises, Conglomerate companies established in 1926, Pages with non-numeric formatnum arguments, All Wikipedia articles written in Indian English, Wikipedia articles needing factual verification from May 2020, Creative Commons Attribution-ShareAlike License, This page was last edited on 14 December 2020, at 09:06. We hosted Zee Entertainment at our India Corporate Day in Hong Kong on December 3 and 4, 2018. [24] The Essel Group also launched the Mumbai Football Club in 2007[25] which became by defunct by 2019. You can view name of Chairman, CEO, CFO, Management Team, Board of Directors and Key Executives of Zee Entertainment Enterprises Ltd. Management. It was demerged as a separate company of the Essel Group in 2006. It operates the subsidiaries of Zee Media Corporation, Zee Entertainment Enterprises, Dish TV and Siti Networks. Designation. [32] It is the primary profit generating company of the Essel Group. View institutional stock ownership, mutual fund ownership and top individual ownership of Zee Entertainment Enterprises Ltd (ZEEL). [26], The joint distribution venture with Turner India was ended in 2018. Join Mint channel in your Telegram and stay updated with the latest business news. [15][19] The momentary market dominance of Zee News was also broken with the emergence of competition from channels such as Aaj Tak, STAR News and later NDTV after its own separation from Star News. The lenders had initiated discussions with potential bidders, including strategic investors, to sell the bulk of the pledged shares. ZEEL is a subsidiary of the Essel Group, which also owns satellite TV operator Dish TV and newspaper Daily News and Analysis . In 2005, the network launched the Zee Sports channel and in the following year it procured Taj Television which operated the Ten Sports channels. [48] It provides cable distribution services for household consumption. Know all about Zee Entertainment Enterprises Limited including company news, people and financial results only on the official corporate website. Essel Group (alternatively referred to as the Zee Group[2]) is an Indian conglomerate holding company and corporate promoter headquartered in Mumbai, Maharashtra, India. Zee Entertainment’s scrip closed 13.28 per cent higher on BSE on Wednesday, while YES Bank’s shares ended the day at a gain of 4.99 per … Zee Entertainment Enterprises (formerly Zee Telefilms) is an Indian mass media company owned by Essel Group. Essel Group (alternatively referred to as the Zee Group ) is an Indian conglomerate holding company and corporate promoter headquartered in Mumbai, Maharashtra, India. Zee Entertainment Enterprises Ltd. 135, Dr. Annie Besant Road, Worl MUMBAI 400013 P: +9122.71061234 F: +9122.23002107 In 2004, it was able to briefly secured the rights for cricket broadcasting from the Board of Control for Cricket in India (BCCI) but the contract was terminated following a legal complaint over the conduct of the rights auction. If the entire pledged holding is sold off, Chandra will be left with 0.89% stake in Zee. By 1994, the channel had captured 65% of the satellite market share. [16] In 1994,[17] the Essel Group incorporated Siti Cable. [8] Chandra is part of the Goenka (Goel) family which owns and operates the group, he is also the chairman of the company and a Bharatiya Janata Party backed member of the Rajya Sabha. Zee Entertainment Enterprises(formerly Zee Telefilms) is an Indian mass media company owned by Essel Group. Essel Group companies together owe an additional ₹11,400 crore, according to a 5 October Mint report. Companies owned by Subhash Chandra Zee Entertainment Enterprises Limited Zee Entertainment Enterprises Limited is one of India’s leading television, media and entertainment companies. [3] The company has had business interests in mass media, broadcasting infrastructure and packaging. US-based hedge fund Invesco Oppenheimer, the largest shareholder in ZEEL, owns 18.74% stake. Zee News Ltd (later renamed to Zee Media Corporation) became the news broadcasting subsidiary of the group while Wire & Wireless India Limited (later renamed to Siti Networks) became the cable distribution company of the group. The Board of Directors of Zee Entertainment Enterprises at its meeting held on 14 October 2015 approved write-off of an investment of GBP 3.25 million (equivalent to Rs 33.06 crore) made by Asia Today Limited, a wholly owned overseas subsidiary of the company, in 2013 for acquiring minority stake in MirriAD Ltd., UK. The Essel Group retained a 34% equity stake in the company while Propack held a 22% equity stake. Amit Goenka. From giving India its first private satellite TV channel in 1992, to reaching 1.3 billion viewers around the world through linear and digital platforms. [33] The Zee Entertainment Enterprise also owns and operates the record label of Zee Music Company and the film studio of Zee Studios. [18], The partnership with the Star Network ended in 2000, following a buyout of Star India's shares in Asia Today Ltd by Zee Telefilms. Name. Over the following years, the company launched a series of entertainment channels in competition with the Star India. Adesh Kumar Gupta. Established in 1994 as a subsidiary of the Zee Telefilms Ltd (later renamed to Zee Entertainment Enterprises),[15] it was founded as a separate company of the Essel Group following the de-merger of the Zee Telefilms in 2006. However, people in the know said that more nominee directors from new investors, along with the new chairman, will be announced in the coming days. It launched its own private cricket league, the Indian Cricket League which held two seasons between 2007–2009 but the league failed to gain traction. Over the last three days, three board members resigned, including Niharika Vora (independent director), Sunil Sharma (independent director), and Subodh Kumar (nominee of Subhash Chandra’s Essel group). According to BSE data, at the end of September, the promoter group held a 22.37% stake in ZEEL. Zee TV remained the market leader in the entertainment segment till 2000. Invesco Oppenheimer acquired 11% stake in the company while the stake of the Essel Group firms was reduced to 22.37%. [7][28], The Zee Entertainment Enterprises Limited (abbreviated as ZEEL; formerly Zee Telefilms Limited) is the media and entertainment broadcasting company of the Essel Group. Zee Unimedia, Zee Digital Convergence, India Webportal and Zee Network Distribution to another wholly owned subsidiary Company i.e. [16] In 2002, Zee Telefilms entered into a joint venture with Turner Broadcasting System for the distribution of channels under unified subscription packs which offered Turner channels such as Cartoon Network, Pogo, HBO, etc alongside Zee Network channels. Sony Corp. is among the contenders who are in talks to acquire a stake in leading Indian media giant Zee Entertainment Enterprises, ... Fox-owned Star India network in 2013. [60] The lottery however ceased operation in 2020, following the sale of assets by the Essel Group for the repayment of pending debts. “However, the entire board requested him to not only continue as a board member but also to be the ‘mentor’ to the executive management and its MD & CEO." Zee Entertainment Enterprises Limited is one of India’s leading television, media and entertainment companies. [41] The Zee Media Corporation also owns and operates the ZEE5 distribution platform. MUMBAI : Four days after selling a stake in India’s largest listed television network, Subhash Chandra, who founded Zee Entertainment Enterprises Ltd … Company History - Zee Entertainment Enterprises 1982 - The Company was incorporated on 25th November, and it obtained the Certificate of Commencement of Business on 5th … Contents. Zee Tamil is an Indian pay television channel that is owned by Zee Entertainment Enterprises. [8] In 1981, the firm also acquired a lucrative export contracts for rice and soyabeans as a result of Indo–USSR bilateral trade agreements. Headquartered in Mumbai, it has interests in television, print, internet, film, mobile content and allied businesses. It is amongst the largest producers and aggregators of entertainment content in the world with an extensive library housing over 250000 hours of television content. The company was launched on 2 October 1991 as Zee Telefilms, brandname that was retained until 2006. [15] The group also launched the first direct-to-home television in India through its subsidiary Dish TV on 2 October 2003. Log in to our website to save your bookmarks. Zee Entertainment Enterprises Ltd (ZEEL) on Tuesday reported 37.87 per cent year-on-year (YoY) decline in consolidated net profit at Rs 349.43 crore … ZEE5 is an Indian video on demand service run by Essel Group via its subsidiary Zee Entertainment Enterprises. [21] Zee Telefilms Ltd and Zee News Ltd would be renamed to Zee Entertainment Enterprises Ltd in 2007 and Zee Media Corporation Ltd in 2013, respectively. ZEE ENTERTAINMENT ENTERPRISES LIMITED is located in Mumbai, Maharashtra, India and is part of the Wired Telecommunications Services Industry. Zee Entertainment Enterprises Limited is one of India's leading media and entertainment companies. It operates the subsidiaries of Zee Media Corporation, Zee Entertainment Enterprises, Dish TV and Siti Networks. “While Shri Chandra stepped aside from the chair, he also expressed the desire to step aside as a board member," the release said. Zee TV is a Hindi language general entertainment channel owned by the Essel Group in India. real estate and infrastructure through the companies of E-City Ventures, Suncity Projects and Essel Infraprojects, respectively. Zee Entertainment Enterprises Limited produces and develops Hindi films, serials, game shows and children's programs. ZEE5, a video on demand website run by Zee Entertainment Enterprises, has entered into partnership with Kaltura, the leading video technology provider, for the deployment of the Kaltura TV Platform Player. [47] It became the largest DTH provider in India after the merger. [56], Alongside its major subsidiaries, the Essel Group also has investments in movie screening. [6][7] Founded in 1926 as the Messrs Ramgopal Indraprasad by Jagannath Goenka, the company was expanded and converted into the Essel Group of Industries by the his grandson, Subhash Chandra. [27] Over the year, the Essel Group sold off part its pledged shares in ZEEL for the repayment of some of its debt. Zee Entertainment Enterprises Limited, abbreviated as ZEEL, is the largest television network in India entirely owned by an Indian company, and the second-largest overall, behind Star India (a subsidiary of The Walt Disney Company ). A new story is unravelling with a leaner, greener and sharper ZEE. Independent Director. [55] The student coaching firm MT Educare became a subsidiary of Zee Learn following an acquisition in May 2018. This forced him to abandon the establishment in Delhi and move the machinery to Hisar in 1951. [11] Though the amusement park did not provide sufficient returns, it marked the beginning of the group's venture into the entertainment industry. ZEE, today, is the global entertainment go-to, with an integrated team creating and serving extraordinary content. MUMBAI: Subhash Chandra-owned Zee Entertainment Enterprises NSE -2.92 % (ZEE) has posted a net profit of Rs 292.5 crore for the final quarter of the financial year ended March 31, 2019, a jump of 26.8% over the corresponding quarter of the previous fiscal. [18][46] The Essel Group maintains a 55% stake in the company while the Videocon Group maintains a 45% stake. Zee Entertainment Enterprises Limited is a media group organized around 4 areas of activity: - advertising services (63.5% of net sales); - subscription services (29.1%); “In light of the changes in shareholding, Mr. Subhash Chandra has expressed his intention to resign as chairman of the board with immediate effect. In 1948, Jagannath Goenka attempted to expand his business by setting up a pulses polishing factory in Delhi which subsequently suffered heavy losses. [44] The company also promotes and operates the ZeeQ channel of the Zee Entertainment Enterprises. By 2007, after failing to acquire cricket broadcasting rights from the BCCI, the Zee Group launched its own Indian Cricket League (ICL) but the league remained unsuccessful in gaining traction and was phased out after two seasons. entertainment software. It is amongst the largest producers and aggregators of Hindi programming in the world, with an extensive library housing over 80,000 hours of television content. It is associated with several other sister channels which provide services in Tamil, Hindi, English and several regional languages of India. [44], The Zee Media Corporation was formerly a subsidiary of the Zee Telefilms Ltd (later renamed to Zee Entertainment Enterprises) and existed under the name of Zee News Limited. It is amongst the largest producers and aggregators of Hindi programming in the world, with an extensive library housing over 100,000 hours of television content. Copyright © HT Digital Streams Limited All rights reserved. [22], DishTV India Limited (abbreviated as DTIL, stylised as dishtv) is a Direct to Home (DTH) television provider company which provides DTH service through multiple brands such as Dish TV, d2h and Zing Digital. [21] The company operates a constellation of news channels under the brand name of Zee including the English language news channel WION. The reconstituted board consists of six independent directors and two members from the Essel Group, Subhash Chandra and Punit Goenka. It'll just take a moment. Of this, 96% was pledged. [36][37] The Essel Group has divested a part of its shares in the company for the repayment of pending dues, reducing its stake in the company to 22.37% with much of the remaining stake still pledged as collateral to the remaining dues. In case you can’t find any email from our side, please check the spam folder. 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