ZEEL Q1FY16 highlights: Net up 15.4%, ZEEL to acquire Odisha's Sarthak Entertainment for Rs 115 crore

ZEEL Q1FY16 highlights: Net up 15.4%

MUMBAI: Zee Entertainment Enterprises Ltd (ZEEL) reported a 15.4% growth in the first quarter of FY16. Advertising and subscription revenues jumped 25.4% and 12.2%, respectively.

Here are the highlights:

ZEEL Q1 FY16 net profit is at Rs 242.3 crore compared to Rs 210 crore (Rs 2.1 billion) a year ago.

ZEEL to acquire Odisha's Sarthak Entertainment for Rs 115 crore

MUMBAI: Zee Entertainment Enterprises Ltd (ZEEL) is acquiring 100 per cent of Sarthak Entertainment, which owns and operates Odia general entertainment channel Sarthak TV, for Rs 115 crore (Rs 1.15 billion).

The all-cash deal will include Rs 150 million payable in financial year 2017 and 2018, linked to certain performance milestones of the channel.


Viacom18 to launch digital video service, Gaurav Gandhi to head

MUMBAI: Viacom18 is set to launch a digital video service that will stream content from its network, along the lines of Star India's Hotstar and Multi Screen Media's (MSM) Sony Liv.

The entity is named Viacom18 Digital Ventures. Gaurav Gandhi will head it as its chief operating officer. His role is effective 1 August. He will move from IndiaCast Media Distribution, a distribution JV between TV18 and Viacom18, where he is COO.