Zee Media's WION channel to go on air in August
The Board of Directors of Zee Media Corporation, at a meeting held today, has approved the business plan for launch of its English news channel WION (World Is One News) in August 2016.
As reported in March this year, Zee Media had announced plans to launch VION this summer. Rohit Gandhi is heading the channel as Editor-in-Chief. Targetted at Generation Z, WION will have bureaus across the globe and give a global view of the world with a South Asian lens. Zee Media recently received the channel licence for WION from the Ministry if Information and Broadcasting (MIB).
Meanwhile, Zee Media has terminated its existing arrangement with Taj Television India for distribution of the network’s TV channels. The arrangement being material related party transaction, for a period of three years till March 31, 2017, was approved by unrelated shareholders of the company vide resolution passed on November 3, 2015.
The Board accorded in-principle approval for entering into a material related party transaction with Zee Entertainment Enterprises, a related party, for distribution of TV channels of the company at 7 per cent revenue sharing on the subscription revenues of the TV channels of the company.
The Zee Board also authorised the Company Secretary to initiate actions required seek approval of unrelated shareholders, as per Regulation 23 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, for the proposed material related party transaction between Zee Media and Zee Entertainment for distribution of TV channels of the company.
RK Arora, who was recently elevated to CEO of the company, has been nominated as a key managerial personnel of Zee Media with effect from April 29, 2016.