Zee Entertainment Enterprises second quarter consolidated net profit rose 27% year-on-year at Rs 160 crore. However, a fall in advertising revenue hurt sales growth. Zee Entertainment’s consolidated revenue growth in July-September was up just about 1% at Rs 718.4 crore.
The mega Zee-Turner and Star-Den alliance has caught the attention of the Competition Commission of India. Sources tell CNBC-TV18, the CCI will examine the deal under Section 3 of the Competition Act which deals with anti-competitive agreements.
CNBC-TV18’s Mitali Mukherjee spoke to Sameer Manchanda, CMD of Den Network on what does he expects of the Zee Turner and Star Den Media Services alliance.
India’s leading entertainment and distribution companies Zee Turner and Star Den Media Services have formed a 50:50 joint venture to be called Media Pro Enterprise India to combine distribution of the channel bouquets of Star and Zee in the country.