Canis Media has announced today that it has been appointed by ZEE Network UK, to help consolidate the group’s activities around its television business.
The deal will see Canis Media handle the sale of ZEE Radio’s assets, including a rare London DAB licence.
The assets on sale are an AM analogue licence (6 hours per day via Spectrum Radio), London DAB licence, a place on the Sky Digital EPG, and an online radio streaming website.
As mentioned earlier on BizAsia.co.uk, ZEE Network UK is looking to focus on the core television business, which includes content production, aggregation, distribution and playout technologies.
The restructuring will strengthen ZEE Network’s market position as the preferred destination for viewers and advertisers of South Asian content.
Ed Hall, Chief Executive of Canis Media, says, “Many companies are under pressure to consolidate their core businesses. ZEE contacted Canis Media as we are experts at offering advice in making sound commercial decisions, while handling the entire process.”
Govind Shahi, Country Head, ZEE Network Europe, said, “ZEE has been experiencing great success over recent years in its international business and we have decided to really concentrate on our core television business. Canis Media has outstanding experience in the business of broadcasting so we were keen to enlist them to manage this process. ZEE continues to lead the way in entertainment for South Asian audiences around the world.”
Canis is currently inviting speculative offers for the rare licences.
ZEE Radio ceases broadcasting next Thursday, 30th April.