Zee Entertainment Enterprises Limited has today formally announced its acquisition of the General Entertainment TV Channels from Anil Ambani led Reliance Group Entities .
In a statement the company said “The Board of Directors of Zee Entertainment Enterprises Limited (“ZEEL”) (BSE: 505537, NSE: ZEEL.EQ) today approved the acquisition of the General Entertainment Broadcasting Business Undertaking of Reliance Big Broadcasting Private Limited, Big Magic Limited & Azalia Broadcast Private Limited, all part of Anil Ambani led Reliance Group Entities through a scheme of demerger and execution of definitive agreements in relation to such proposed acquisition (the “Proposed Transaction”).
The TV Broadcasting business of Reliance Group Entities currently comprises two operational general entertainment channels (“BIG Magic” and “BIG Ganga”) and 4 other TV licenses.
BIG Magic is a Comedy channel catering to Hindi Speaking Markets. BIG Ganga is a leading Bhojpuri entertainment channel catering to audiences in Bihar, Jharkhand and Purvanchal. The channels are available on all major MSOs and DTH operators.
The General Entertainment TV Broadcasting business undertaking along with its assets, liabilities, licenses, trademarks etc. shall get demerged from “BIG Magic Ltd”, “Reliance Big Broadcasting Private Ltd” and “Azalia Broadcast Private Ltd” into ZEEL through a courtapproved scheme.
- See more at: ZEEL formally announces acquisition of Anil Ambani led Reliance TV Channels
In a statement the company said “The Board of Directors of Zee Entertainment Enterprises Limited (“ZEEL”) (BSE: 505537, NSE: ZEEL.EQ) today approved the acquisition of the General Entertainment Broadcasting Business Undertaking of Reliance Big Broadcasting Private Limited, Big Magic Limited & Azalia Broadcast Private Limited, all part of Anil Ambani led Reliance Group Entities through a scheme of demerger and execution of definitive agreements in relation to such proposed acquisition (the “Proposed Transaction”).
The TV Broadcasting business of Reliance Group Entities currently comprises two operational general entertainment channels (“BIG Magic” and “BIG Ganga”) and 4 other TV licenses.
BIG Magic is a Comedy channel catering to Hindi Speaking Markets. BIG Ganga is a leading Bhojpuri entertainment channel catering to audiences in Bihar, Jharkhand and Purvanchal. The channels are available on all major MSOs and DTH operators.
The General Entertainment TV Broadcasting business undertaking along with its assets, liabilities, licenses, trademarks etc. shall get demerged from “BIG Magic Ltd”, “Reliance Big Broadcasting Private Ltd” and “Azalia Broadcast Private Ltd” into ZEEL through a courtapproved scheme.
- See more at: ZEEL formally announces acquisition of Anil Ambani led Reliance TV Channels
