Mumbai-based media giant Zee Entertainment Enterprises Ltd (ZEEL) is looking for a 50 per cent broadcast partner, and the company has narrowed down its search.
According to local reports carried on the CBNC-TV18 business news channel, ZEEL is in talks with both Comcast and Sony over the partnership. A deal announcement is expected imminently.
ZEEL’s backers in the form of the Chandra family and conglomerate Essel own 41.62 per cent of ZEEL, and it is this stake which will be subdivided. However, the news channel also adds that some of the individual ZEE channels might be spun off separately, and suggests that Alibaba, Tencent and even Amazon could be pitching to buy ZEE’s OTT platform ZEE5.
ZEEL reported a 17.9 per cent y-o-y revenue growth on February 14th.