At meeting held on 23 November 2016
Zee Entertainment Enterprises announced that the Board of Directors of the Company at a meeting held on 23 November 2016 has approved the acquisition of General Entertainment Television Broadcasting Undertakings from Reliance Big Broadcasting (transferor 1), Big Magic (transferor 2) and Azalia Broadcast (transferor 3) - all of these forming part of Anil Ambani led Reliance Group.The consideration payable by the Company for the proposed acquisition shall be by way of taking over off debt of the demerged undertakings aggregating to Rs 295 crore and issuance of unlisted preference shares aggregating Rs 3.95 crore to the shareholders of transferor companies.
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