Zee Entertainment on Wednesday said that it was calling two board meetings on June 16 to discuss growth plans for the next three to five years. The move is significant as the firm announced last month that it was transforming into a content and technology company as it sought to get future-ready. It also unveiled its ‘Z’ identity recently, saying it aims to deliver a more premium and immersive experience to viewers.
On Wednesday, Zee said that it would call its first board meet at 12 noon next week, where an investment banker would apprise the board of its review of the company’s growth initiatives. The banker would also suggest “risk mitigation thoughts’ for the execution of the plans, the company said.
The banker would also recommend potential fund-raising options, the company said. A second board meeting at 4 pm the same day would see the company deliberate on these recommendations made by the investment banker, before adopting them in full or part, the media giant said.
On Monday, Zee had announced that it had entered into a strategic equity partnership with content and tech startup Bullet, co-founded by serial entrepreneurs Azim Lalani and Saurabh Kushwah. While it did not disclose the stake size or investment amount in Bullet, the partnership with the latter would see the launch of a new “micro-drama” application, which was focused on fast-paced, creator-driven, short-duration content, targeted at mobile-first audiences. This is the first investment by Zee post its transformation into a content and technology company last month.
“As the digital ecosystem grows exponentially, we are constantly identifying several value-accretive opportunities to drive scale,” Zee said.
The company, which is listed on the stock exchanges, closed FY25 with revenue of Rs 8,294 crore and net profit of nearly Rs 680 crore. While revenue was down 4% amid tightening of ad budgets by advertisers, net profit rose four-fold as the company pruned costs and workforce in a bid to improve earnings.
In the last few quarters, the company has increased its focus on improving margins and giving a push to content and technology initiatives after it failed to merge with Sony (in 2024) amid consolidation in the domestic media market.
When refurbishing its identity last month, Zee had said that it reflected the firm’s ambition, focus on set goals, and commitment to ongoing innovation, performance and profitability.