Zee Studios to sell Zee Unimedia to Elitecast Media for Rs 2.4 crore

The transaction is a related party transaction and the same is done at “arm’s length”, said Zee Entertainment in an exchange filing.

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26 Aug, 2025 12:21

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Zee Studios Limited (ZSL), a subsidiary of Zee Entertainment Enterprises Limited, entered into an agreement with Elitecast Media Limited to sell its entire shareholding in Zee Unimedia Limited (ZUL) for Rs 2.40 crore.

Zee Entertainment holds 100 percent equity shares in ZUL through ZSL, according to an exchange filing.

Elitecast Media Limited is one of the promoter group companies as per the definition prescribed under Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, according to the filing.

"This above transaction is a related party transaction and the same is done at “arm’s length”, the filing added.

Earlier today, the National Company Law Tribunal (NCLT) dismissed all objections in the Zee-Sony merger deal, giving a green signal to the merger deal of the media behemoths.

In December 2021, Zee Entertainment and Sony Pictures had reached an agreement to combine their businesses. Subsequently, both media companies approached the tribunal to seek approval for the merger, having already obtained necessary permissions from the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), and other regulatory bodies like the Competition Commission of India (CCI) and the Securities and Exchange Board of India (SEBI).