Adding Mus­cle to the Port­fo­lio

9X Me­dia, along with its sub­sidiaries, runs mu­sic chan­nels, a Bol­ly­wood news web­site and sev­eral other me­dia busi­nesses.

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Zee En­ter­tain­ment En­ter­prises Lim­ited (ZEEL) on Oc­to­ber 6, 2017 in­formed Bom­bay Stock Ex­change (BSE) that it has en­tered into a de­fin­i­tive agree­ment to ac­quire 9X Me­dia and its sub­sidiaries from New Silk Route and other share­hold­ers for an all cash con­sid­er­a­tion of `1,600 mil­lion (160 crore)

9X Me­dia, along with its sub­sidiaries, op­er­ates a bou­quet of six mu­sic chan­nels - 9XM (Lat­est Bol­ly­wood), 9X Jalwa (Ev­er­green Hindi), 9X Jhakaas (Marathi), 9X Tashan (Pun­jabi), 9XO (English), 9X Ba­jao (Hindi Classics). On com­ple­tion of the ac­qui­si­tion, these chan­nels will be added to ZEEL’s cur­rent port­fo­lio of 33 chan­nels. The ac­qui­si­tion is in line with the Com­pany’s strat­egy to cater to di­verse au­di­ence by of­fer­ing tar­geted prod­ucts. Be­sides sig­nif­i­cantly ex­pand­ing its Hindi mu­sic port­fo­lio, it gives ZEEL ac­cess to the re­gional mu­sic genre. It also in­creases its re­gional foot­print with foray into the Pun­jabi mar­ket. 9X Me­dia’s Bol­ly­wood news por­tal, Spot­boyE, will also be a part of the trans­ac­tion.

Punit Goenka, man­ag­ing di­rec­tor and chief ex­ec­u­tive of­fi­cer, ZEEL says in a me­dia state­ment, “Con­tin­u­ing with our strat­egy of ex­pand­ing into re­gional mar­kets and niche gen­res, we are pleased to an­nounce this ac­qui­si­tion which strength­ens our mu­sic port­fo­lio. Mu­sic is an in­te­gral com­po­nent of con­sumer’s en­ter­tain­ment pie and we will of­fer our con­sumers a wider ar­ray of choices through these chan­nels. 9X chan­nels en­joy lead­ing mar­ket shares in their re­spec­tive seg­ments and will ben­e­fit im­mensely from our net­work’s strength to achieve higher growth po­ten­tial and cost syn­er­gies. I am con­fi­dent that these chan­nels will make our en­ter­tain­ment bou­quet even more com­pelling for the au­di­ence.”

“I am con­fi­dent that these chan­nels will make our en­ter­tain­ment bou­quet even more com­pelling for the au­di­ence.” PUNIT GOENKA

ZEEL hopes that its new ac­qui­si­tions will make it more at­trac­tive.

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