GECs
Zone Vision makes inroads in China with Encore International acquisition
MUMBAI: Zone Vision Networks, which owns and operates Reality TV, has announced a deal for China in association with Liberty Media Corporations Encore International (EI).
Zone Vision has acquired the assets of EI and Asian Television and Communications International (ATCI) from Liberty Media. EI operates a daily branded block, Everyday Jiayi, on Chinese state broadcaster China Central Televisions CCTV-8.
Zone Visions operations in China, meanwhile, include a five-year agreement with CCTV to represent its English-language service, CCTV-9, around the world. Deals have already been inked for the channel in 13 countries.
EI founder John J Sie will continue in his role as chairman, and his venture, JS International, together with Liberty Media Corporation, will hold a five per cent stake in the combined entity. The China activities of Zone Vision, EI and ATCL will be operated under the Encore International banner.
Zone Vision founder and chairman Chris Wronski says, This is an incredible opportunity for Zone Vision. Encore International has established an excellent brand and foundation that our global content networks can build upon in China.
Sie said, Our original vision for Encore International in China has been to develop a platform of channels when Chinese law allows it. Zone Vision has the programming library and international business savvy to see that goal through.
Zone Visions China representative Sarah Jiang, will be Encore International Beijing (EIB) GM and chief representative. She will manage the daily operations of Everyday Jiayi, oversee EIs interest in the advertising joint venture with CCTV, bring Zone Visions program block in China under EIB, and she will seek out additional business opportunities for the company.
ZONE VISION ACQUIRES THE HORROR CHANNEL
Meanwhile, in the UK, in order to expand upon its portfolio of thematic channels that includes Reality TV, Romantica, Club and Europa Europa, Zone Vision has announced the acquisition of The Horror Channel, a UK digital channel featuring films, studio and movie reviews in the horror genre. Zone Vision Networks is acquiring the channel from founder, Tony Hazell.
Zone Vision senior VP, business development and legal Tanya Gugenheim said, The Horror Channel has established a solid following in the UK over the past year and we feel it has excellent potential for a European roll-out. As a new subsidiary of chellomedia, one of our goals is to seek out opportunities such as this to utilise our expertise in the global channel market.
The Horror Channel is available to 7.3 million subscribers on UKs BSkyB platform.
GECs
Sahara One reports financial results, notes director exit and business realignment
Muted revenues, steady expenses and strategic adjustments shape company’s current phase
MUMBAI: In a tale where the sands seem to be slipping faster than they can be gathered, Sahara One Media and Entertainment Limited has reported another quarter of wafer-thin income and widening losses, even as a boardroom exit adds to the unease.
The company informed the Bombay Stock Exchange that its board, in a meeting held on April 4, approved its unaudited financial results for the quarter ended September 30, 2025. The numbers paint a stark picture. Total income for the quarter stood at just Rs 0.13 lakh, unchanged sequentially and sharply down from Rs 0.26 lakh a year earlier.
Losses, meanwhile, deepened. The company posted a net loss of Rs 24.16 lakh for the quarter, compared to Rs 18.81 lakh in the June quarter and Rs 39.69 lakh in the same period last year. For the six months ended September 2025, the cumulative loss stood at Rs 39.69 lakh, while the full-year loss for FY25 was reported at Rs 60.72 lakh.
Expenses continued to outweigh income by a wide margin. Total expenses for the quarter came in at Rs 24.30 lakh, led by employee benefit costs of Rs 6.51 lakh and other expenses of Rs 17.78 lakh. Earnings per share remained in the red at Rs (0.11) for the quarter.
The balance sheet reflects a company with significant assets on paper but limited operational momentum. Total assets stood at Rs 23,065.57 lakh as of September 30, 2025, broadly unchanged from March 2025. Equity share capital remained steady at Rs 2,152.50 lakh, while total equity was reported at Rs 18,004.85 lakh.
Cash and cash equivalents saw a modest uptick to Rs 6.75 lakh from Rs 4.68 lakh earlier, supported by a positive operating cash flow of Rs 180.01 lakh for the period.
Yet, beneath these numbers lies a more complex narrative. The company’s auditors flagged their inability to obtain sufficient evidence to form a conclusion on the financial statements, citing lack of access to records. They also raised concerns over the company’s ability to continue as a going concern, pointing to insufficient funds, delayed recoveries, and stalled content investments.
Adding to the governance overhang, the company disclosed that Rana Zia has resigned as whole-time director, effective October 16, 2025, citing other professional commitments. The resignation, noted and accepted by the board, also brings an end to her role across company committees.
Regulatory pressures continue to loom large. The Securities and Exchange Board of India has already initiated penal actions for non-compliance with listing norms, with trading in the company’s shares remaining suspended. There is also a risk of promoter demat accounts being frozen.
Legacy legal issues remain unresolved. A substantial deposit of Rs 694,027.88 thousand linked to the long-running OFCD dispute involving Sahara group entities is still under the purview of the Supreme Court of India. Restrictions on asset disposal continue to weigh on the company’s financial flexibility.
Operationally, challenges persist across multiple fronts. Advances worth Rs 1,92,916 thousand given for film content remain stuck, with delays in project completion and uncertain recoverability. The company’s YouTube channel, despite being operational, has generated no revenue for over three years due to compliance lapses. In a further twist, management has indicated that revenues may have been fraudulently diverted through unauthorised changes to its AdSense account, with a police complaint in the works.
There are also missed revenue opportunities. Television content rights continue to be used by a related party despite the expiry of the licence agreement, with fresh negotiations still underway.
For now, Sahara One Media and Entertainment Limited appears caught between legacy disputes and present-day operational hurdles. As losses linger and governance questions mount, the road to recovery looks less like a sprint and more like a slow trudge through shifting sands.
