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Last Updated : May 29, 2019 08:39 AM IST | Source: CNBC-TV18

Stake sale to conclude by early July: Punit Goenka, MD and CEO, Zee Entertainment

Speaking about ZEE5’s performance, Goenka said: “We have seen significant growth in both advertising as well as subscription.”

CNBC TV18 @moneycontrolcom

Punit Goenka, MD and CEO of Zee Entertainment Enterprises, spoke to CNBC-TV18 on the company's Q4 performance and the impending stake sale.

On the advertising front, Goenka said: "In our verticals, we have seen significant growth across the portfolio but if I was to highlight, it came largely on the back of the movie cluster as well as the regional portfolio and within the regional portfolio, it is driven very much evenly between Marathi, Bengali, Kannada and Tamil."

Speaking about ZEE5's performance, he said: "We have seen significant growth in both advertising as well as subscription."

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On the impending stake sale, Goenka said: "I have two term sheets already with me for the potential stake sale and given where we are in those negotiations, I can confidently tell you that despite paying back all the loan against share lenders, the promoters will still be left with a stake in the company."

When asked about other financial assets, which have risen five times from Rs 180 crore to Rs 1,000 crore, he said: "These are towards future purchases of content that we have given out on the back of ZEE5 investments as well as the impending movie libraries that we have acquired for the future channels to be launched along with renewal of libraries for the existing channels."

On the timeline of the stake sale, he said: "By end of June or early July, we will be concluding the deal with one of the parties and coming out with an official announcement."

Source: CNBC-TV18

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First Published on May 28, 2019 01:13 pm
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