Inside the battle to control ZEE Entertainment
Though ZEE Entertainment MD and CEO, Punit Goenka's exit is imminent, his father, Subhash Chandra is in no mood to give up.
punit goenka
September 2021
November 2019
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November 2018
Why investors want Punit Goenka out of Zee
Industry observers hardly find the move surprising. Sources say former Zee chairman Subhash Chandra’s micro-management of ZEE from outside angered the investors.
Subhash Chandra steps down as Zee chairman
Chandra’s resignation as Zee’s chairman marks the end of an era in which he pioneered the growth of private sector broadcast TV in the country. He will remain a board member.
Promoters to sell majority stake in Zee to pare debt
Punit Goenka to reportedly continue as MD and CEO, though it remains to be seen whether the Essel Group will still be classified as promoters with a residual 5% stake.
Promoters sell 11% in Zee to Invesco Oppenheimer
Announcement of the stake sale ends months of speculation regarding the suitor for Zee, and will help promoters deleverage the group’s balance sheet
Zee’s FY19 earnings may aid better valuation
With promoters looking to pare their stake in the media company to repay debt, sound FY19 financial results shine light on the quality of the asset.
Zee Entertainment: A lot at stake
Besieged with debt, the Essel Group is pinning its hopes on a stake sale in crown jewel Zee to help stay afloat. It helps that the broadcaster is at the top of its game and in sync with the times.
Negative forces acting against us: Chandra
Bad business decisions and systemic challenges have led to the Essel Group’s debt ballooning, says Chandra.
Why Zee is on the hunt for a strategic partner
The MD and CEO of Zee Entertainment Enterprises says the promoters would rather own a smaller share of a larger pie than be relegated to the fringes as entertainment sector technologically advances.
