No strategic partner for Zee likely this fiscal

MUMBAI: Zee Telefilms’ plans to bring on a global media partner has been put on hold at least for the current financial.

AOL Time Warner which was seen as the most likely strategic partner, especially after Zee tied up last year with AOL subsidiary Turner International to jointly distribute each other’s and third-party channels, is not in the picture for the present anyway.

According to corporate affairs CEO Rajiv Garg, who spoke to CNBC India earlier in the day, the reasons were mainly tied to the turmoil that the global media behemoth was facing. Garg did say though that Zee could still tie up with some other company, or go back to AOL-TW at some later date if the company was able to sort out its problems.