News Broadcasting
Print business demerger: Zee Media awaits National Company Law Tribunal approval
MUMBAI: Essel group company Zee Media Corp had got shareholder approval earlier this year to demerge its print media business which includes its newspaper DNA into Diligent Media Corp Ltd (DMCL) and merge two other firms – Mediavest India Pvt Ltd and Pri-Media Services Pvt into – DMCL. The exercise of restructuring would become effective 1 April 2017 and finally see DMCL being listed on the stock exchanges at a later date.
The company yesterday announced – during the release of its latest Q4 2017 and financial year 2017 financial results – that the demerger is awaiting the go-ahead of the National Company Law Tribunal.
According to its latest financial results, Zee Media notched up a healthy 27.3 per cent growth in advertising revenues over the previous corresponding year’s quarter to Rs 1403.7 million in the latest quarter and a 13.7 per cent growth in the full fiscal to Rs 4553.8 million. The spike in advertising revenues came despite the slowdown in ad spends, courtesy demonetisation, and can be attributed to the ad spends by political parties in the assembly elections which took place in the period after January 2017.
Zee Media took a hit of 27.2 per cent on subscription revenues in Q4 to Rs 115.3 million and of 43.8 per cent in the full fiscal to Rs 575.3 million.
Its total revenue in Q4 2017 grew 17.5 per cent to Rs 1559.6 million, while its FY2017 was dragged down by the lower subscription revenues to show a growth of just 1.3 per cent to Rs 5508.2 million.
Higher marketing costs of Rs 208.4 million (a growth of 190.7 per cent) to promote and distribute its new channel WION in Q4 2017 saw its expenses rise 31.5 per cent in the quarter. Its full-year expenses however rose only 3.8 per cent to Rs 4819 million as its marketing expenses shaved by 15.1 per cent in FY 2017.
Its profit after tax for Q4 2017 fell 71.2 per cent Rs 53.6 million while it registered a higher loss of Rs 160.6 million for the full fiscal (Rs 45.4 million in FY2016).
For further detailed financial analysis, please log in a little later today.
News Broadcasting
CNN-News18 to host Kolkata Town Hall on Hooghly River
‘Bhalobasa Bengal Inspiring Bharat’ event on April 20 brings cultural icons, trailblazing women and leaders aboard a cruise to celebrate Bengal’s enduring influence.
MUMBAI: Bengal is about to make fresh waves on the Hooghly and this time the current is pure conversation. CNN-News18 is taking its iconic Town Hall format to the waters of the iconic Hooghly River on 20 April 2026 with a special edition titled ‘Bhalobasa Bengal – Inspiring Bharat’. The floating event will celebrate the state’s rich cultural legacy and how its ideas, creativity and spirit continue to shape the rest of the country.
The unique riverside setting draws on Bengal’s history as a cradle of reform, art and intellectual thought. The speaker line-up mirrors that diversity: cultural heavyweights Mithun Chakraborty and Sreenanda Shankar will share the stage with trailblazing “Devis” such as Tanya Sanyal (India’s first woman firefighter in aviation), Ipsita Chakraborty (Kolkata’s first woman bartender) and Reshma Nilofer Visalakshi (Nari Shakti awardee and marine pilot). Music will flow through the celebrated pianist-vocalist duo Sourendro and Soumyojit, while public life and governance will be represented by Smriti Irani, Leander Paes, Saira Shah Halim, Keya Ghosh, Rekha Patra, Roopa Ganguly and Babul Supriyo.
CNN-News18, editorial affairs director, Rahul Shivshankar, said the event honours voices that carry Bengal’s legacy forward. Smriti Mehra, CEO – English & Business News, Network18, added that Bengal’s stories resonate far beyond its borders, especially as the state heads into polls.
From the first woman to battle flames in the skies to legendary actors who shaped Indian cinema, the gathering promises a rich mix of inspiration, courage and candid dialogue. In a city where culture has always flowed as freely as the river itself, CNN-News18 is turning the Hooghly into a floating forum for ideas that matter.
Tune in on 20 April on CNN-News18, CTV and YouTube to catch Bengal’s heartbeat in full flow.
