Zee Entertainment Enterprises Ltd wants to induct a strategic investor in its joint venture firm India Web Portal Ltd (IWPL), which runs India.com and a slew of other online news media properties.
IWPL may use the money raised to fund its inorganic growth ambitions in the healthcare and technology content spaces, besides scaling up India.com, news portal dnaindia.com and entertainment website zeetv.com.
In a communication to the stock exchanges, ZEEL said that its board has approved the stake sale proposal as part of which IWPL would issue convertible preference shares to the new investor. IWPL is a joint venture between ZEEL and American digital media publisher Penske Media Corporation.
The company claims that India.com generates 30 million page views every month. According to Comscore data, it gets 2.5 million unique visitors every month.
Leave Your Comment
3 years ago
India Web Portal Ltd, a joint venture between Penske Media Corporation and Zee...
1 year ago
Media baron Subhash Chandra-led Zee Entertainment Enterprises Ltd will acquire...
1 year ago
Sandeep Reddy, the co-founder of India-focused private equity firm Peepul...