About
Zee Media Corporation Ltd
Zee Media Corporation Limited (Formerly known Zee News Ltd) was incorporated in August 27, 1999. The Company is one of India's leading media and entertainment companies with strong presence in the news and regional entertainment genres. The company is the part of Essel group. The company is engaged mainly in the business of broadcasting of news, current affairs and regional entertainment satellite television channels uplinked from India. The company has one subsidiary, namely Zee Akaash News Pvt Ltd.
The Company has a wide portfolio of 19 News Channels comprising of 16 TV News channels (1 Global, 4 National and 11 Regional channels), 3 digital-only News channels, and more than 30 digital brands
The channels operated by Zee News Ltd are Zee News, Zee Business, Zee 24 Taas, Zee Punjabi, Zee Marathi, Zee Bangla, Zee Gujarati, Zee Telugu and Zee Kannada. In addition, Zee Akaash News Private Ltd, a company in which the company has a 60% stake, operates 24 Ghanta, a 24X7 Bengali news channel. The company's news gathering capabilities are significantly enhanced by their KU Band network and strong relationships with international news agencies.
The company is having an arrangement with Zee Turner Ltd to distribute their pay channels bouquet in India and neighboring countries. Zee Turner was also assigned to distribute the company's bouquet of pay channels on DTH platforms as well. The company also has an arrangement with Dish TV India Ltd for up-linking of their channels through their teleport. Dish TV is having a license for up-linking of TV channels from the competent Government authority.
The company in 2003 created history by becoming the 24-hour Hindi current affairs and news channel in the country. In November 2004, the company launched The Zee Business channel. The name of the company was changed to Zee News Ltd on May 27, 2004 after obtaining a fresh Certificate of Incorporation from the Registrar of Companies, Mumbai.
In March 31, 2006, the news business undertaking of Zee Entertainment Enterprises Ltd consisting of news and regional language channels, namely Zee News, Zee Business, Zee Bangla, Zee Punjabi, Zee Marathi, Zee Telugu and Zee Kannada was demerged and vested to Zee News Ltd. As per the Scheme of Arrangement, the company allotted 45.21 equity shares of Re 1/- each fully paid-up for every 100 equity shares of Re 1/- each held in Zee Entertainment Enterprises Ltd.
During the year 2006-07, the company acquired 5,70,000 equity shares of Rs 10/- each of in their subsidiary company Zee Akaash News Pvt Ltd at a price of Rs 114/- per share. The company launched Zee Kannada, which established itself steadily in Karnataka. In February 2007, the company launched India's first Marathi news channel, Zee 24 Taas.
During the year 2007-08, the company launched their first franchise channel in Chattisgarh by the name of Zee 24 Ghante Chattisgarh.
In 2007, Zee Entertainment Enterprises Limited (ZEEL) transferred its regional entertainment channels to the Company w.e.f. October 2005 by way of Demerger Scheme and got listed at Bombay Stock Exchange, National Stock Exchange & Calcutta Stock Exchange in January 2007.
In August 2008, the company launched Marathi movie channel namely Zee Talkies and in October 2008, they launched entertainment channel in Tamil called Zee Tamil. The company entered into strategic partnership with Sky B (Bangla) Pvt Ltd, a company which owns 'Akash Bangla', a 24 hours regional infotainment channel in Bengali and acquired 26% stake in that company.
Zee Tamil was launched on October 12, 2008. Again, Zee 24 Gantalu and Zee News Uttar Pradesh were launched in April, 2009. 24-hour Telugu News channel, Zee 24 Gantalu was launched on April 2, 2009 and 24-hour UP News channel, Zee News Uttar Pradesh was launched on April 5, 2009. Amongst the newly launched news channels, Zee News UP has often emerged as the market leader in terms of share and time spent.
The year 2010-11 marked first full year of operations of the Company as a pure news broadcasting entity, after the Regional General Entertainment Channel business undertaking was demerged to Zee Entertainment Enterprises Limited through the Scheme of Arrangement for Demerger, which became effective from March 29, 2010. In terms of the said Scheme, the Company was allotted equity shares of Zee Entertainment Enterprises Limited on April 20, 2010 in the ratio of 4 equity shares of Re. 1 each of Zee Entertainment Enterprises Limited against 19 equity shares of Re. 1 each held in the Company.
In FY 2011-12, the Company became India's largest news network to reach over 100 million viewers across regions and languages. It launched Hindi news and infotainment channel for Central India - Zee Madhya Pradesh and Chhattisgarh taking its bouquet of channels to eight - two national and six regional in 2012.
The Company was renamed from Zee News Limited to Zee Media Corporation Limited with effect from July 6, 2013. In 2013-14, the Company acquired 37.87% equity stake in Maurya TV Private Limited, which runs Maurya TV, a news and entertainment channel for the region of Bihar/Jharkhand. Additionally, resulting the amalgamation of Essel Publishers Pvt Ltd with the Company, it expanded into print news media segment, through subsidiaries Diligent Media Corporation Limited (DMCL), which publishes DNA newspaper in cities of Mumbai, Bengaluru and Pune and Pri Media Services Pvt Ltd, which is engaged in printing inter-alia of DNA newspaper.
In addition to launching new channels, the Company in 2013-14, also restaged Zee News, Zee 24 Taas, 24 Ghanta, Zee Punjab Haryana Himachal (erstwhile Zee Punjabi) and Zee Sangam (erstwhile Zee Uttar Pradesh Uttarakhand) to keep up with the ever changing viewing patterns. Of these, Zee Marudhara and Zee Kalinga follow a new content format named Terrestrial Entertainment Network (TEN).
During the year 2014-15, the Print Media Business comprising of printing and publication of English newspaper DNA' housed in 3 subsidiaries viz. Mediavest India Pvt. Ltd, Diligent Media Corporation Ltd and Pri-Media Services Pvt. Ltd were vested with the Company with effect from April 1, 2014, by way of Scheme of Amalgamation and additionally, resulting the acquisition of balance equity stake from existing shareholders, Maurya TV Pvt Ltd, an associate entity till March 31, 2014 became a wholly owned subsidiary of the Company with effect from December 12, 2014 and consequently the Broadcasting Business of Maurya TV' a regional channel targeting Bihar and Jharkhand came under the Company's fold.
In 2016-17, WION (World Is One News), India's 1st Global English News Channel, was commercially launched by the network in December 2016 and expended its International presence with several bureaus in Asia, the USA and the UK. The channel made a mark with its in-depth coverage of world events, such as the elections in the US and war against terrorism in Iraq, and of human interest stories arising out of India and abroad. The channel also launched several premium programmes, such as 'Tech-it-Out' (Technology show), 'WION Pitstop' (Auto show) and 'Gravitas' (Daily primetime show). WION's flagship property, 'World Is One - Global Leadership Series' included exclusive interactions with global leaders, such as Bashar Al Assad (President, Syria), Recep Tayyip Erdagon (President, Turkey), Pervez Musharraf (Former President, Pakistan), and Hamid Karzai (Former President, Afghanistan) on issues impacting their respective countries as well as their relationships with India.
In 2016-17, the restructuring of Print Media business, through a Scheme of Arrangement and Amalgamation inter alia for (a) Demerger of Print Media undertaking of the Company into Diligent Media Corporation Ltd (DMCL), a step-down wholly owned subsidiary; (b) consolidation of the Print Media business by merger of two other Print Media subsidiaries of the Company viz. Mediavest India Pvt Ltd and Pri-Media Services Pvt Ltd into DMCL; and (c) merger of Maurya TV Pvt Ltd, a wholly owned subsidiary with the Company, with effect from Appointed Date of April 1, 2017. To facilitate the said Scheme certain restructuring of the Non-equity investments of the Company in Print-Media subsidiaries were carried out, consequent to which as at March 31, 2017, ther Company holds 100% equity stake in 2 print media subsidiaries viz. Mediavest India Pvt Ltd and Pri-Media Services Pvt Ltd and 100% of the paid-up Preference Share Capital of nominal value of Rs 4362.66 Million in DMCL. Under the said Scheme of Arrangement and Amalgamation, the consideration payable by DMCL for vesting of Print Media Undertaking was discharged by issuance of Equity Shares to the Shareholders of the Company in the ratio of 1 Equity Share of DMCL for every 4 Equity Shares held in the Company. Upon the Scheme becoming effective, and after allotment of Equity Shares by DMCL to the Shareholders of the Company, the equity shares got listed on BSE and NSE.
In 2018-19, the Company acquired balance 40% equity stake in Zee Akaash News Private Limited (ZANPL) from M/s. Sky B (Bangla) Private Limited and consequent to such acquisition ZANPL became wholly owned subsidiary with effect from June 1, 2018; and it sold 100% equity stake in Ez-Mall Online Limited and resulting to this, it ceased to be Subsidiary on and from June 30, 2018.
A Wholly Owned Subsidiary, in the name of Rapidcube Technologies Private Limited' got incorporated on October 29, 2020. Two new TV news channels, viz. Hindi news and Bengali news were launched during 2020. Further, in 2021, the Digital Publishing Business Division of the Company was transferred to Rapidcube on May 4, 2021 and the said transfer was effective from April 1, 2021. In terms of the said Transfer, the Board of Directors of Rapidcube, on May 4, 2021, allotted 23,32,16,754 fully paid up Equity shares of Rs 10/- each to the Company through the Business Transfer Agreement.
Zee Delhi NCR Haryana (Zee DNH) was launched during FY 2023 with relevant news content for the markets.
Zee Media Corporation Ltd
Chairman Speech
To expand our reach, the Company has incorporated a wholly owned
subsidiary in the USA under the name Zee Media Americas LLC for greater focus on its reach
into the USA and UK
Dear Shareholders,
Welcome to the 24th Annual General Meeting of Zee Media Corporation
Limited. It is my pleasure to connect with you and place before you the Annual Report of
the Company for the financial year ended March 31, 2023.
During the previous year, Global economy continued to face challenges
due to severe inflationary pressure, geopolitical tensions, and the resurgence of COVID-19
in China. Global growth slowed in the calendar year (CY) 2022 to 3.4% from 6.3% in CY2021.
As per IMF estimates, Global growth is estimated at 2.8% in CY2023 and 3.0% in CY2024
reflecting the actions taken by the central bank to fight inflation and mitigate the risks
posed by geopolitical tensions. Despite global headwinds, the Indian economy remained
resilient and one of the fastest-growing economies in FY2023, driven by strong domestic
consumption and relatively less exposure to international trade flows. As per the National
Statistics Office (NSO), the Indian GDP growth in FY2023 is estimated at 7.2% as compared
to 9.1% in FY2022. This growth has been supported by robust private consumption, export
stimulus, increased investment demand due to public capex, and strengthened bank and
corporate balance sheets, which have provided a demand stimulus to industrial growth.
On the back of strong macro-economic indicators, increasing consumerism
and urbanisation, the Indian Media & Entertainment industry is expected to grow by
11.5% in 2023. In addition to proliferation of the internet and digital literacy, other
major factors contributing this growth are Rise of OTT platforms, rural electrification,
increasing income levels etc. Consumers today are far more informed, discerning,
aspirational, and demanding. Consumer markets are changing dynamically in the face of
continuous disruption. The new age technologies are transforming the entire consumer
facing industries.
Commensurate with the changing industry landscape, we at Zee Media are
always the forefront of adopting and stimulate new strategies and trends. Over the years,
we have diversified our presence all across the growing mediums i.e. TV, Digital, Events
etc. Our strong presence on the diverse mediums has enabled us to cater to all the
customer profiles. The Company's portfolio of channels and digital platforms is
strategically designed to address lucrative niches based on geography and languages.
During the last year, we have done the transformational change in our
flagship channel i.e. Zee News. The channel was given a completely new, refreshing, and
uncluttered look with upgraded content to provide an elevated experience to our viewers.
To overhaul our bandwidth and coverage, the network has added many new anchors during the
year across its channels to refresh the team and content. We also had leadership changes
during the year, which would provide fresh impetus in our transformation journey.
WION's in-depth coverage of global news and current affairs from a uniquely Indian
lens has helped position the channel as a market leader and the country's voice to
the wider world, and our distribution strategy exploring linear and digital partnerships
via OTT platforms, smart TV apps and other connected devices has helped us establish a
footprint in more than 190 countries around the world.
To add another feather in the cap, your company has partnered with
Motion Content Group (a GroupM company) to promote and telecast Critics' Choice
Awards 2023. The event recognised performers in the Indian entertainment industry across
short films, web series and feature films. The event was graced by many B-Town celebrities
and telecast on multiple channels of the Zee Media network.
To expand our reach, the Company has incorporated a wholly owned
subsidiary in the USA under the name Zee
Media Americas LLC for greater focus on its reach into the USA and UK.
The digital publishing business of the Company, which had been consolidated under a
separate WOS Indiadotcom Digital Private Limited' (IDPL), to bring focus on
exploiting the enormous potential and growth in the digital media segment, has also been
performing well.
During the year, the consolidated revenues declined by 17%, while, the
costs increased only marginally despite a high inflation due to technology upgrades
related to channel uplinking and broadcasting, as well as higher operating costs and
marketing spends done to maintain our market share and appeal to diverse audiences, in
line with a comprehensive content and market share strategy. This had resulted in a
decline in profits during the year.
At Zee Media, we are fully committed on our growth journey through
content strategies, leveraging our network, riding on our strong and diversified reach and
market share.
To conclude, I would like to express my gratitude and thanks to all the
team members, shareholders, financial institutions, my fellow board members and viewers
for their dedication and support.
Yours truly,
Susanta Kumar Panda
Chairman (Independent Director)
  Â
Zee Media Corporation Ltd
Company History
Zee Media Corporation Limited (Formerly known Zee News Ltd) was incorporated in August 27, 1999. The Company is one of India's leading media and entertainment companies with strong presence in the news and regional entertainment genres. The company is the part of Essel group. The company is engaged mainly in the business of broadcasting of news, current affairs and regional entertainment satellite television channels uplinked from India. The company has one subsidiary, namely Zee Akaash News Pvt Ltd.
The Company has a wide portfolio of 19 News Channels comprising of 16 TV News channels (1 Global, 4 National and 11 Regional channels), 3 digital-only News channels, and more than 30 digital brands
The channels operated by Zee News Ltd are Zee News, Zee Business, Zee 24 Taas, Zee Punjabi, Zee Marathi, Zee Bangla, Zee Gujarati, Zee Telugu and Zee Kannada. In addition, Zee Akaash News Private Ltd, a company in which the company has a 60% stake, operates 24 Ghanta, a 24X7 Bengali news channel. The company's news gathering capabilities are significantly enhanced by their KU Band network and strong relationships with international news agencies.
The company is having an arrangement with Zee Turner Ltd to distribute their pay channels bouquet in India and neighboring countries. Zee Turner was also assigned to distribute the company's bouquet of pay channels on DTH platforms as well. The company also has an arrangement with Dish TV India Ltd for up-linking of their channels through their teleport. Dish TV is having a license for up-linking of TV channels from the competent Government authority.
The company in 2003 created history by becoming the 24-hour Hindi current affairs and news channel in the country. In November 2004, the company launched The Zee Business channel. The name of the company was changed to Zee News Ltd on May 27, 2004 after obtaining a fresh Certificate of Incorporation from the Registrar of Companies, Mumbai.
In March 31, 2006, the news business undertaking of Zee Entertainment Enterprises Ltd consisting of news and regional language channels, namely Zee News, Zee Business, Zee Bangla, Zee Punjabi, Zee Marathi, Zee Telugu and Zee Kannada was demerged and vested to Zee News Ltd. As per the Scheme of Arrangement, the company allotted 45.21 equity shares of Re 1/- each fully paid-up for every 100 equity shares of Re 1/- each held in Zee Entertainment Enterprises Ltd.
During the year 2006-07, the company acquired 5,70,000 equity shares of Rs 10/- each of in their subsidiary company Zee Akaash News Pvt Ltd at a price of Rs 114/- per share. The company launched Zee Kannada, which established itself steadily in Karnataka. In February 2007, the company launched India's first Marathi news channel, Zee 24 Taas.
During the year 2007-08, the company launched their first franchise channel in Chattisgarh by the name of Zee 24 Ghante Chattisgarh.
In 2007, Zee Entertainment Enterprises Limited (ZEEL) transferred its regional entertainment channels to the Company w.e.f. October 2005 by way of Demerger Scheme and got listed at Bombay Stock Exchange, National Stock Exchange & Calcutta Stock Exchange in January 2007.
In August 2008, the company launched Marathi movie channel namely Zee Talkies and in October 2008, they launched entertainment channel in Tamil called Zee Tamil. The company entered into strategic partnership with Sky B (Bangla) Pvt Ltd, a company which owns 'Akash Bangla', a 24 hours regional infotainment channel in Bengali and acquired 26% stake in that company.
Zee Tamil was launched on October 12, 2008. Again, Zee 24 Gantalu and Zee News Uttar Pradesh were launched in April, 2009. 24-hour Telugu News channel, Zee 24 Gantalu was launched on April 2, 2009 and 24-hour UP News channel, Zee News Uttar Pradesh was launched on April 5, 2009. Amongst the newly launched news channels, Zee News UP has often emerged as the market leader in terms of share and time spent.
The year 2010-11 marked first full year of operations of the Company as a pure news broadcasting entity, after the Regional General Entertainment Channel business undertaking was demerged to Zee Entertainment Enterprises Limited through the Scheme of Arrangement for Demerger, which became effective from March 29, 2010. In terms of the said Scheme, the Company was allotted equity shares of Zee Entertainment Enterprises Limited on April 20, 2010 in the ratio of 4 equity shares of Re. 1 each of Zee Entertainment Enterprises Limited against 19 equity shares of Re. 1 each held in the Company.
In FY 2011-12, the Company became India's largest news network to reach over 100 million viewers across regions and languages. It launched Hindi news and infotainment channel for Central India - Zee Madhya Pradesh and Chhattisgarh taking its bouquet of channels to eight - two national and six regional in 2012.
The Company was renamed from Zee News Limited to Zee Media Corporation Limited with effect from July 6, 2013. In 2013-14, the Company acquired 37.87% equity stake in Maurya TV Private Limited, which runs Maurya TV, a news and entertainment channel for the region of Bihar/Jharkhand. Additionally, resulting the amalgamation of Essel Publishers Pvt Ltd with the Company, it expanded into print news media segment, through subsidiaries Diligent Media Corporation Limited (DMCL), which publishes DNA newspaper in cities of Mumbai, Bengaluru and Pune and Pri Media Services Pvt Ltd, which is engaged in printing inter-alia of DNA newspaper.
In addition to launching new channels, the Company in 2013-14, also restaged Zee News, Zee 24 Taas, 24 Ghanta, Zee Punjab Haryana Himachal (erstwhile Zee Punjabi) and Zee Sangam (erstwhile Zee Uttar Pradesh Uttarakhand) to keep up with the ever changing viewing patterns. Of these, Zee Marudhara and Zee Kalinga follow a new content format named Terrestrial Entertainment Network (TEN).
During the year 2014-15, the Print Media Business comprising of printing and publication of English newspaper DNA' housed in 3 subsidiaries viz. Mediavest India Pvt. Ltd, Diligent Media Corporation Ltd and Pri-Media Services Pvt. Ltd were vested with the Company with effect from April 1, 2014, by way of Scheme of Amalgamation and additionally, resulting the acquisition of balance equity stake from existing shareholders, Maurya TV Pvt Ltd, an associate entity till March 31, 2014 became a wholly owned subsidiary of the Company with effect from December 12, 2014 and consequently the Broadcasting Business of Maurya TV' a regional channel targeting Bihar and Jharkhand came under the Company's fold.
In 2016-17, WION (World Is One News), India's 1st Global English News Channel, was commercially launched by the network in December 2016 and expended its International presence with several bureaus in Asia, the USA and the UK. The channel made a mark with its in-depth coverage of world events, such as the elections in the US and war against terrorism in Iraq, and of human interest stories arising out of India and abroad. The channel also launched several premium programmes, such as 'Tech-it-Out' (Technology show), 'WION Pitstop' (Auto show) and 'Gravitas' (Daily primetime show). WION's flagship property, 'World Is One - Global Leadership Series' included exclusive interactions with global leaders, such as Bashar Al Assad (President, Syria), Recep Tayyip Erdagon (President, Turkey), Pervez Musharraf (Former President, Pakistan), and Hamid Karzai (Former President, Afghanistan) on issues impacting their respective countries as well as their relationships with India.
In 2016-17, the restructuring of Print Media business, through a Scheme of Arrangement and Amalgamation inter alia for (a) Demerger of Print Media undertaking of the Company into Diligent Media Corporation Ltd (DMCL), a step-down wholly owned subsidiary; (b) consolidation of the Print Media business by merger of two other Print Media subsidiaries of the Company viz. Mediavest India Pvt Ltd and Pri-Media Services Pvt Ltd into DMCL; and (c) merger of Maurya TV Pvt Ltd, a wholly owned subsidiary with the Company, with effect from Appointed Date of April 1, 2017. To facilitate the said Scheme certain restructuring of the Non-equity investments of the Company in Print-Media subsidiaries were carried out, consequent to which as at March 31, 2017, ther Company holds 100% equity stake in 2 print media subsidiaries viz. Mediavest India Pvt Ltd and Pri-Media Services Pvt Ltd and 100% of the paid-up Preference Share Capital of nominal value of Rs 4362.66 Million in DMCL. Under the said Scheme of Arrangement and Amalgamation, the consideration payable by DMCL for vesting of Print Media Undertaking was discharged by issuance of Equity Shares to the Shareholders of the Company in the ratio of 1 Equity Share of DMCL for every 4 Equity Shares held in the Company. Upon the Scheme becoming effective, and after allotment of Equity Shares by DMCL to the Shareholders of the Company, the equity shares got listed on BSE and NSE.
In 2018-19, the Company acquired balance 40% equity stake in Zee Akaash News Private Limited (ZANPL) from M/s. Sky B (Bangla) Private Limited and consequent to such acquisition ZANPL became wholly owned subsidiary with effect from June 1, 2018; and it sold 100% equity stake in Ez-Mall Online Limited and resulting to this, it ceased to be Subsidiary on and from June 30, 2018.
A Wholly Owned Subsidiary, in the name of Rapidcube Technologies Private Limited' got incorporated on October 29, 2020. Two new TV news channels, viz. Hindi news and Bengali news were launched during 2020. Further, in 2021, the Digital Publishing Business Division of the Company was transferred to Rapidcube on May 4, 2021 and the said transfer was effective from April 1, 2021. In terms of the said Transfer, the Board of Directors of Rapidcube, on May 4, 2021, allotted 23,32,16,754 fully paid up Equity shares of Rs 10/- each to the Company through the Business Transfer Agreement.
Zee Delhi NCR Haryana (Zee DNH) was launched during FY 2023 with relevant news content for the markets.
Zee Media Corporation Ltd
Directors Reports
Zee Media Corporation Ltd
Company Background
Incorporation Year | 1999 |
Registered Office | 14th Floor A Wing Marathon Fut,NM Joshi Marg Lower Parel Mumbai,Maharashtra-400013 |
Telephone | 91-022-24831234,Managing Director |
Fax | 91-022-23002107 |
Susanta Kumar Panda Company Secretary | Pushpal Sanghavi |
Auditor | Ford Rhodes Parks & Co LLP |
Face Value | 1 |
Market Lot | 1 |
Listing | BSE,NSE, |
Registrar | Link Intime India Pvt Ltd C-101 247 Park,L B S Marg,Vikhroli West,Mumbai-400083 |
Zee Media Corporation Ltd
Company Management
Director Name | Director Designation | Year |
---|
Pushpal Sanghavi | Company Sec. & Compli. Officer | 2023 |
Raj Kumar Gupta | Independent Director | 2023 |
Amitabh Kumar | Independent Director | 2023 |
Swetha Gopalan | Independent Director | 2023 |
Surender Singh | Director | 2023 |
DINESH KUMAR GARG | Director (Finance) | 2023 |
Susanta Kumar Panda | Chairman & Independent Directo | 2023 |
PURUSHOTTAM VAISHNAVA | Director | 2023 |
Zee Media Corporation Ltd
Listing Information
Listing Information |
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BSESMALLCA |
BSEALLCAP |
GOODSSERVI |
Zee Media Corporation Ltd
Finished Product
Product Name | Unit | Installed Capacity | Production Quantity | Sales Quantity | Sales Value |
---|
Advertisement Charges | NA | 0 | 0 | 0 | 511.088 |
Subscription | NA | 0 | 0 | 0 | 38.164 |
Channel Management Fees | NA | 0 | 0 | 0 | 5.827 |
Sales of Programs/Film Rights | NA | 0 | 0 | 0 | 4.266 |
Other Operating Income | NA | 0 | 0 | 0 | 0 |
Franchise Fee Income | NA | 0 | 0 | 0 | 0 |
Revenue from Channel Operation | NA | 0 | 0 | 0 | 0 |