According to recent reports, Zee Media lead by Rajya Sabha MP Subhash Chandra will acquire 100 per cent stakes of general entertainment channels and 49 per cent stakes of the radio business of the Reliance Group lead by Anil Ambani for Rs. 1900 crore (USD 283 million).
Image Source: zeemedia
Reliance Capital which is handling the agreement with Zee group stated, "Zee Entertainment Enterprises Ltd (ZEEL), a separate entity under Zee group, will acquire 100 per cent stake in the Group's General Entertainment TV business". Zee Media Corporation Ltd (ZMCL) will acquire 49 per cent of its radio business.
They also stated that, "These transactions form part of Reliance Capital's stated strategy to reduce leverage and exposure in non-core business of media and entertainment.".
Information Source: msn
Title Image Source: huffpost