Zee reorganises ad sales function under separate entity - Zee Unimedia
The Zee Entertainment Enterprises Board of Directors at a meeting held yesterday inter alia approved in-principle the proposal for re-organising advertisement sales and channel distribution functions in the business operations of the company.
With a view to provide media planners with multiple options across genres and platforms, the Board has approved re-organisation of advertisement sales function under a separate entity formed for the purpose on March 23, 2016, in the name of Zee Unimedia. To facilitate such re-organisation, the Board has approved acquisition of 100 per cent equity stake comprising 700 equity shares of Rs 10 each of Zee Unimedia at par from the subscribers viz. Certain employees and key managerial personnel of the company.
To provide an integrated solution to media buyers, with effect from April 1, 2016, Zee Unimedia, as a wholly owned subsidiary of the company, will act as canvassing agent to the company, associate/ related entities of the company and third party media companies at a mutually agreeable commission on arms-length basis.
Meanwhile, to optimise channel distribution operations and take benefit of increasing penetration of DTH and ongoing implementation of DAS (Digital Addressable Systems), the Board has approved re-organisation of channel distribution functions, currently handled by Taj Television India, a wholly-owned subsidiary of the company. The channel distribution activity shall be integrated within the company with effect from April 1, 2016.
The company shall also distribute channels of broadcasting entities of associate/ related entities of the company at a mutually agreeable commission on arms-length basis.