Zee Media ends distribution pact with Taj Television

Zee Media Corporation today terminated its television channel distribution pact with group firm Taj Television while giving an in-principle nod to Zee Entertainment Enterprises for the same.
The company's board of directors in its meeting held today "terminated existing arrangement with Taj Television (India) Pvt Ltd for distribution of channels", Zee Media Corporation said in a BSE filing.
The said arrangement "being material related party transaction, for a period of three years valid till March 31, 2017, was approved by unrelated shareholder of the company vide a resolution passed on November 3, 2015," it added.
The company further said its board "accorded in-principle approval for entering into a material party related transaction with Zee Entertainment Enterprises Ltd (ZEEL), a related party for distribution of television channels of the company at 7 per cent revenue sharing on the subscription revenues of the television channels of the company".

In June 2014, Zee had announced that Taj Television India Pvt Ltd would distribute over 47 television channels belonging to ZEEL, Zee Media Corp and Turner International India after broadcast regulator TRAI banned aggregation of channels of multiple broadcasters in one bouquet.