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Published: October 31, 2024
Updated: October 31, 2024
Zee Media Corporation Ltd. (BSE: 532794, NSE: ZEEMEDIA), one of the leading and largest news networks of India, has announced that the company’s wholly owned subsidiary viz. Zee Akaash News Private Limited has, after obtaining requisite approvals, entered into Agreement for making an investment in Flutrr Digimate Pvt Ltd. The investment shall be made by Zee Akaash News Private Limited by subscribing to equity share and Convertible Warrants, of Flutrr.
Fluttr is into the business of providing information technology solutions and technology enabled services. the Investment is expected to be completed by December 31, 2024.
Earlier, Zee Media Corporation Ltd. had approved fund raise of up to INR 200 Cr, via the issue of up to 13.33 lakh convertible warrants. The proposed allotees include FIIs UNICO Global Opportunities Fund Ltd., AL Maha Investment Fund PCC – Onyx Strategy, and Ebisu Global Opportunities Fund Ltd.
Zee Media Corporation Limited is one of the leading and largest news networks of India. It has a unique cluster of 19 TV news channels comprising 1 Global, 4 National and 11 Regional language channels, together with 3 digital-only channels and multiple digital brands.
Zee Media network is one network that began early, grew steadily, adapted along, sustained all weathers and today stands as one of India’s largest, widest and most diverseplatform news network. Zee Media Corporation Limited has interests in Global, National and Regional news channels and Digital news publishing. The Company also operates 32 digital properties and 7 mobile applications. The digital publishing business of the Company has been consolidated under a subsidiary company ‘Indiadotcom Digital Private Limited’ (IDPL). Zee News, the flagship channel of the network is a household name among India’s news channels and among the flagbearers of free, fearless and foremost journalism.
November 30, 2024 - Second Issue
Industry Review
VOL XVI - 06
November 16-30, 2024
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