Zee Entertainment Enterprises Ltd Share Price (ZEEL)

Zee Entertainment Approves New Organizational Structure - 18 Apr, 2024

Zee Entertainment Enterprises has approved a new streamlined organizational structure proposed by its MD and CEO, Punit Goenka. The restructuring is aimed at enhancing performance and profitability levels across the company's four key business segments - broadcast, digital, movies, and music.

Zee Entertainment Faces Financial Instability Amidst Merger Termination - 17 Apr, 2024

Zee Entertainment Enterprises Ltd faces financial instability following the termination of its $10-billion merger with Sony Pictures Networks India. The company has withdrawn a merger implementation application against Sony and will no longer have futures and options contracts issued on the National Stock Exchange. Additionally, Zee has shut down its tech subsidiary, leaving employees unpaid.

Zee Withdraws Merger Application Against Sony; NSE Stops Issuing New Futures Contracts - 16 Apr, 2024

Zee Entertainment has withdrawn its merger implementation application filed against Sony before the National Company Law Tribunal. The decision enables the company to pursue all claims against Sony in ongoing arbitration proceedings at the Singapore International Arbitration Centre. Additionally, the National Stock Exchange will no longer issue new futures and options contracts for Zee Entertainment.

Zee-Sony Merger Challenge Continues Amidst Falling Gross Profit Margins - 15 Apr, 2024

The National Company Law Appellate Tribunal will hear a challenge to the Zee-Sony merger on May 17 despite objections from IDBI Bank and Axis Finance. Meanwhile, Zee Entertainment is aiming to increase its EBITDA to 18-20% by FY26, as gross profit margins continue to fall.

Prabhudas Lilladher Expects Zee Entertainment Net Profit to Fall by 59.9% - 12 Apr, 2024

Zee Entertainment Enterprises Ltd is expected to report a net profit of Rs. 88.4 crore, down 59.9% YoY and 64.6% QoQ. Net sales are also expected to decrease by 1.9% YoY and 15.1% QoQ to Rs. 2,069.7 crore. EBITDA is likely to fall by 42.9% YoY and 37.2% QoQ to Rs. 209 crore.

Zee Entertainment Upgraded to Hold Amid Media Sector Weakness - 10 Apr, 2024

Analysts have upgraded Zee Entertainment to Hold amid media sector weakness expected to persist in Q4 FY24. Meanwhile, SEBI has delayed taking action on the alleged fund diversion case involving Essel Group Chairman Subhash Chandra until April 30.

Zee Entertainment Proposes Lean Management Structure - 08 Apr, 2024

Punit Goenka, MD and CEO of Zee Entertainment Enterprises, has proposed a lean and streamlined management structure to the board aimed at achieving targeted goals. As part of this initiative, a workforce reduction of 15% is underway.

Zee Entertainment Plans Layoffs Amid Cost-Cutting Strategy - 06 Apr, 2024

Zee Entertainment Enterprises Ltd plans to lay off approximately 500 employees, or 15% of its workforce, as part of a cost-cutting strategy proposed by CEO Punit Goenka. The company aims to achieve targeted revenue growth and EBITDA margins by FY26.

Zee Entertainment Plans Layoffs for Cost-Efficient Model - 05 Apr, 2024

Zee Entertainment Enterprises Ltd will lay off around 15% of its workforce, or approximately 500 employees, in order to implement a leaner and more streamlined management structure. The move is intended to reduce costs and achieve the company's targeted objectives through a new cost-efficient operational model focused on performance and profitability.

Zee Entertainment Faces Challenges Amidst Leadership Changes - 04 Apr, 2024

Zee Entertainment Enterprises Ltd. faces challenges as Punit Misra steps down, CEO announces compensation reduction and NCLAT reserves order on IDBI Bank and Axis Bank's plea challenging Zee-Sony merger.

Zee Entertainment Faces Legal Battles After Failed Merger with Sony - 03 Apr, 2024

Zee Entertainment's CEO Punit Goenka announced a voluntary 20% reduction in salary. The company is implementing measures across verticals to optimize costs and enhance productivity. Meanwhile, the proposed $10 billion merger between ZEE and Sony has collapsed after two years of announcing it, leading to legal battles.

Zee Entertainment CEO Takes Pay Cut - 02 Apr, 2024

Punit Goenka, the Managing Director and CEO of Zee Entertainment Enterprises Ltd (ZEE), has taken a voluntary 20% pay cut in line with the company's cost-cutting measures. The move comes as ZEE tries to trim losses in some of its businesses and reduce costs to meet profit targets.

Zee Entertainment Implements Cost-Cutting Measures - 30 Mar, 2024

Zee Entertainment Enterprises Ltd. has implemented cost-cutting measures, including reducing the size of its Technology and Innovation Centre (TIC) by 50%, streamlining operations, and focusing on content creation, distribution, and monetization. The company also faced allegations of financial irregularities and announced layoffs of approximately 50% of its TIC workforce.

Zee Entertainment Cuts Costs Amid Stock Price Drop - 29 Mar, 2024

Zee Entertainment Enterprises Ltd. is cutting costs by reducing headcount and streamlining work as the company's stock price drops 37% due to an accounting fraud scandal and a failed deal with Sony.

PPFAS Mutual Fund Acquires Over 62 Lakh Shares of Zee Entertainment - 28 Mar, 2024

PPFAS Mutual Fund's affiliate, Parag Parikh Long Term Value Fund, has acquired over 62 lakh shares of Zee Entertainment Enterprises Ltd (ZEEL) at an average price of Rs 141.44, taking the deal value to Rs 88 crore through an open market transaction.

Zee Board Sets Up Mentorship Program for Key Performance Indicators - 27 Mar, 2024

Zee Entertainment Enterprises' board has set up a mentorship program to achieve key performance indicators. A special committee has advised reducing losses and cutting costs in certain business verticals. Directors have opted out of the company.

ZEE Forms Special Committee to Assess Business Performance - 26 Mar, 2024

Zee Entertainment Enterprises has formed a special committee to assess the business performance of identified verticals, including Margo Networks (Sugarbox), Teleplay & Zindagi, Hipi, Weyyak and English Cluster of Linear TV Business. The company has also launched a Monthly Management Mentorship Program to guide the management team towards achieving targeted 20% EBITDA margin.

Supreme Court Rules in Favor of Bloomberg in ZEE Case - 22 Mar, 2024

The Supreme Court has set aside a trial court's order directing Bloomberg to take down an article alleging a $241 million financial irregularity at Zee Entertainment. The ruling is seen as a victory for press freedom and could have implications for future cases involving media coverage of corporate wrongdoing.

Zee Entertainment Implements Risk Mitigation Plan Amidst Legal Troubles - 21 Mar, 2024

Zee Entertainment Enterprises is implementing a risk mitigation and business continuity plan amidst ongoing legal troubles. The Bombay High Court has granted Sebi two weeks to respond to Subhash Chandra's petition challenging the summons issued by Sebi.

Zee Entertainment Faces Legal Hurdles - 20 Mar, 2024

Zee Entertainment Enterprises Ltd faces legal hurdles as SEBI investigates alleged fund diversion by Subhash Chandra and Punit Goenka. The Bombay High Court has granted a temporary reprieve to Chandra against SEBI's summons. Additionally, an independent investigation committee has been established to probe allegations against the company, its key managerial personnel, and its promoters.