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4-Traders Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Zee Entertainment Enterprises Limited    ZEEL   INE256A01028

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Zee Entertainment Enterprises : to buy 9X Media in US$24.45MN deal

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10/09/2017 | 04:12pm CEST

Indias music TV network 9X Media is being acquired by Zee Entertainment Enterprises Limited (ZEEL) for an all-cash deal of INR1,600 million (US$24.45 million).

9X Media, with its subsidiaries from New Silk Route, operate six music channels: 9XM (latest Bollywood hits), 9X Jalwa (evergreen Hindi), 9X Jhakaas (Marathi), 9X Tashan (Punjabi), 9XO (English) and 9X Bajao (Hindi Classics).

Following completion of the acquisition, these channels will be added to ZEELs current portfolio of 33 channels. 9X Medias Bollywood news portal, SpotboyE, will also be included in the transaction.

The acquisition is in line with the Companys strategy to cater to diverse audience by offering targeted products. Besides significantly expanding its Hindi music portfolio, it gives ZEEL access to the regional music genre. It also increases its regional footprint with foray into the Punjabi market, ZEEL said in a statement.

Punit Goenka (pictured), MD & CEO, ZEEL said: Music is an integral component of consumers entertainment pie and we will offer our consumers a wider array of choices through these channels. 9X channels enjoy leading market shares in their respective segments and will benefit immensely from our networks strength to achieve higher growth potential and cost synergies. I am confident that these channels will make our entertainment bouquet even more compelling for the audience.

(c) 2017 Muscat Media Group Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( INR)
Sales 2018 67 078 M
EBIT 2018 19 854 M
Net income 2018 14 230 M
Finance 2018 30 814 M
Yield 2018 0,66%
P/E ratio 2018 32,19
P/E ratio 2019 26,90
EV / Sales 2018 6,63x
EV / Sales 2019 5,66x
Capitalization 475 B
Chart ZEE ENTERTAINMENT ENTERPRI
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Zee Entertainment Enterpri Technical Analysis Chart | ZEEL | INE256A01028 | 4-Traders
Technical analysis trends ZEE ENTERTAINMENT ENTERPRI
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 36
Average target price 560  INR
Spread / Average Target 13%
EPS Revisions
Managers
NameTitle
Punit Subhash C. Goenka Chief Executive Officer, Executive Director & MD
Subhash N. Chandra Non-Executive Chairman
Atul Das President-Strategy & Operations
Mihir Modi Chief Financial & Strategy Officer
Rajneesh Mittal Chief Technology Officer
Sector and Competitors