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Zee aspires to become a global media giant

Zee Telefilms Limited envisages a future in technology and has taken a giant leap forward from a media software exporter to a global media conglomerate, Zee Network chairman Subhash Chandra said in Bombay today.

Speaking to shareholders at the extraordinary general meeting of the company, Chandra said: "Zee Network wishes to enlarge the scope of its objects so that it is able to make the best and most profitable use of technology to distribute programmes and properties all over the world."

Since its launch, Zee has systematically expanded along multiple dimensions and will soon be establishing bonds with its viewers in Marathi, Bengali, Gujarati, Punjabi and other Indian languages through its to-be-launched regional channels.

From analog satellite broadcasting, Zee is moving to digital, direct-to-operator and home broadcasting, apart from launching Internet services, he said.

At the EGM, Zee proposed to increase the company's authorised share capital from Rs500 million to Rs750 million. Keeping in mind the expansion of the company's business, he proposed to bring the authorised share capital of the company in proper correlation with the magnitude of the resources and size of the undertaking.

He stated that the company had no intentions of issuing fresh capital in the immediate future, but added that in view of the ambitious projects it has in mind, such an increase is being sought so as to safeguard them from any fund shortfall.

Zee continued to exploit and re-exploit the existing bank of programmes for different languages which are sold again and again across new media, markets, technologies, modes of distribution and opportunities, Chandra added.

For the purpose of raising debt in the future at competitive rates, the company intends to leverage its net worth and borrow money from banks and financial institutions.

With interests in every sphere of media and presence in all forms of communications, Zee intends to provide a total communication package. With its ability to recycle its software through various modes of transmission, Zee hopes to consolidate all businesses into one, he added.

Zee will endeavour to bring people from across the world together and compacting the world into a global village, connecting south Asians across the world, he said.

Zee will seek to integrate its overseas investments with the parent company to achieve efficiencies of the scale, he concluded.

UNI

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