Zee Entertainment fully acquires 9X Media and INX Music in Rs 160-crore cash deal

New Delhi: Media conglomerate Zee Entertainment has acquired 100 percent stake in two media entities, 9X Media and INX Music, in a Rs 160-crore cash deal.

Representational image. Reuters.

Representational image. Reuters.

Besides, the company has also bought remaining 26 percent stake in Zee Turner Ltd for Rs 2.6 lakh, a 74 percent subsidiary of the company.

The board of Zee Entertainment Enterprise Ltd, in a meeting held on Friday approved acquisition of 100 percent stake in 9X Media PVt Ltd and INX Music Pvt Ltd, the company said in a regulatory filing.

9X Media operates five music channels - 9XM (Hindi), 9X Jalwa (Hindi), 9X Jhakkas (Marathi), 9XO (English) and 9X Bajao (Hindi).

INX Music is a 70.85 percent subsidiary of 9XM and engaged in the business of broadcasting a Punjabi music channel 9X Tashan, under its wholly owned subsidiary Paul
Entertainment.


Updated Date: Oct 06, 2017 19:25 PM

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