Zee Media Corporation: Outcome of board meeting

Dec 17, 2013, 02.10 PM IST

Zee Media Corporation at its meeting held on December 17, 2013, has approved a proposal from M/s. Essel Publishers Private Limited, the Transferor Company in the Scheme of Amalgamation approved by the Board on July 30, 2013.

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Zee Media Corporation: Outcome of board meeting

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Zee Media Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 17, 2013, has approved a proposal from M/s. Essel Publishers Private Limited, the Transferor Company in the Scheme of Amalgamation approved by the Board on July 30, 2013 and ultimate holding Company of Diligent Media Corporation Limited (DMCL), for Demerger of 'Media Business Undertaking' of DMCL, vesting in favor of Zee Entertainment Enterprises Ltd (ZEEL), a listed entity under a Scheme of Arrangement proposed between ZEEL and DMCL.The 'Media Business Undertaking' of DMCL comprises of event management activities and a non-news and current affairs television channel license.Source : BSE

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