Zee Entertainment announced that in line with the strategy to consolidate digital business, the board of Directors of the Company at its meeting held on 08 June 2017 has approved the following -
Acquisition of balance 49% equity stake in India Webportal, a 51% subsidiary of the Company, from its existing shareholder for INR equivalent of USD 30.7 million;
Acquisition of 12.5% equity stake (on fully diluted basis) in Tagos Design Innovations, Bangalore for INR equivalent of USD 2.5 million.