{"id":819687,"date":"2024-06-06T19:39:09","date_gmt":"2024-06-06T14:09:09","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=819687"},"modified":"2024-06-07T09:01:38","modified_gmt":"2024-06-07T03:31:38","slug":"zee-entertainment-to-raise-nearly-240-million-to-use-funds-for-growth","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/06\/06\/zee-entertainment-to-raise-nearly-240-million-to-use-funds-for-growth\/","title":{"rendered":"Zee Entertainment to raise nearly $240 million, to use funds for growth"},"content":{"rendered":"<p>Zee Entertainment Enterprises&#8217;s board has approved a fundraise of up to $239.6 million, the Indian broadcaster said on Thursday. <\/p>\n<p>The company had two major deals &#8211; a $10 billion merger with Sony India and a $1.4 billion cricket broadcasting deal with Walt Disney &#8211; fail this year, and was forced to cut costs and reduce losses in its business to a meet key profit target. <\/p>\n<p>Zee said it will use the funds to &#8220;enhance its strategic flexibility to pursue future growth opportunities in the evolving media landscape&#8221;. <\/p>\n<p>The company plans to raise the funds through equity shares or any other eligible securities, via a combination of private placements, qualified institutions placements, and preferential issues, it added. <\/p>\n<p>Amid the fallout of the deals and legal battles, Zee also contends with new competition after Reliance and Disney&#8217;s merged their Indian assets, creating an $8.5 billion media behemoth. <\/p>\n<p>Zee shares, which lost 4.5 per cent since the fallout of the Sony merger in January, were trading 5.2 per cent higher after the fundraise announcement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Zee Entertainment Enterprises&#8217;s board has approved a fundraise of up to $239.6 million, the Indian broadcaster said on Thursday. The company had two major deals &#8211; a $10 billion merger with Sony India and a $1.4 billion cricket broadcasting deal with Walt Disney &#8211; fail this year, and was forced to cut costs and reduce losses in its business to a meet key profit target. Zee said it will use the funds to &#8220;enhance its strategic flexibility to pursue future growth opportunities in the evolving media landscape&#8221;. The company plans to raise the funds through equity shares or any other [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-819687","post","type-post","status-publish","format-standard","hentry","category-broadcasting"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/819687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=819687"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/819687\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=819687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=819687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=819687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}