Friday, 24 January 2014

Zee Media exits Andhra market, to relaunch 24 Gantalu as Zee Kalinga in Feb

Zee Media Corporation Ltd has completed the process of closing its loss-making Telugu news venture Zee 24 Gantalu and is gearing up to relaunch the channel in its new avatar for the Odisha market, under the moniker Zee Kalinga. 
The company has dissolved its wholly-owned subsidiary 24 Ghantalu News Limited, an entity formed to house Zee 24 Gantalu, and will use the channel licence to launch the proposed channel for Odisha. 

Alok Agrawal, Director, ZMCL said, “We have divested the subsidiary; it was incorporated for the sole purpose of shifting the Telugu channel business. As of now, 24 Ghantalu News Limited ceased to exist, but the channel licence and business stay with the company. We will use the same to launch Zee Kalinga in February, our channel for Odisha market.”
Of the two proposed channels—Zee Kalinga and Zee Purvaiya (for Bihar and Jharkhand market)—the latter was launched on 16 January. Agrawal clarified that Zee Purvaiya is actually a relaunch of Maurya TV, which the company is acquiring. As of 31 December, ZMCL acquired a 37.87 per cent stake in Maurya TV Private Limited.


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