Zee acquires 9X Media, INX Music
Written by : SMTV24x7 | Sat, Oct 07, 2017, 04:39 PM
New Delhi, October 07: Zee Entertainment has acquired 100% stake in two media entities, 9X Media and INX Music, in a Rs 160-crore cash deal.
Punit Goenka, MD & CEO, ZEEL said, "9X channels enjoy leading market shares in their respective segments and will benefit immensely from our network's strength to achieve higher growth potential and cost synergies. I am confident that these channels will make our entertainment bouquet even more compelling for the audience."
The deal is expected to conclude in two months.
"The proposed acquisition by the company of 9X music channels would achieve significant cost synergies and expansion of the portfolio of music channels of the company," ZEEL said.