MUMBAI: Television broadcaster Zee Entertainment Enterprises Ltd on Thursday said its board approved acquiring six regional general entertainment channels of Zee News Ltd in a share-swap deal.
The board approved issuing four Zee Entertainment shares for every 19 Zee News shares, it said in a statement to the BSE.
Zee Entertainment will merge Zee Marathi, Zee Talkies, Zee Bangla, Zee Telugu, Zee Kannada & Zee Cinemalu with itself, effective January 1, 2010, it added.
For fiscal 2009, the six channels reported operating profit of 797 million rupees on revenue of 3.4 billion rupees.
--Reuters