Zee Entertainment Enterprises Ltd
(ZEEL) which operates entertainment channels like Zee TV and Zee Cinema has announced
its foray into radio broadcasting space with the acquisition of UAE based radio
station “Hum 106.2”. ZEEL already operates satellite television channels like
Zee Aflam and Zee Alwan in the UAE Market.
Hum 106.2, previously owned and operated
by Shamal Media Services, is a UAE based Hindi FM Radio channel with a current
market share of 26%. The frequency was one of the first Hindi and Urdu language
frequencies in the UAE to hit airwaves in the 1990s. This move comes immediately
after ZEEL forayed into film production and distribution in the UAE and Middle
East markets.
Radio has been an area of interest
for ZEE for quite some time and after extensive planning and studying of the
brand values, ratings and revenue generated by various stations, HUM FM was the
best option. Now, Zee can offer media across television, radio and digital
platforms leading to a great synergy between content and mediums. More
announcements are expected in the coming weeks on the future channel
programming and its positioning.
Earlier this month, ZEEL entered
the Hispanic market with the launch of its Spanish language Bollywood movie
channel Zee Mundo on 13 September. ZEEL also sold its sports network TEN Sports
to Sony Pictures Network (SPN) in all cash deal worth $385 Million on 1 September.
For the quarter ended June 2016, ZEEL had reported a net profit of Rs 218.1
crore, a 21.4% increase from Rs 179.6 crore, in the year ago period.
