Brief by Shorts91 Newsdesk / 04:18pm on 29 Mar 2024,Friday Business
Zee Entertainment has downsized its Technology & Innovation Centre in Bengaluru by approximately 50%, following recommendations to curb expenses. CEO Punit Goenka made the decision, aligning with a review panel's advice to mitigate losses, particularly in English-language TV channels. The committee proposed significant cost reductions, aiming to meet profit targets amid legal battles and heightened competition post Disney-Reliance merger. Zee aims to halve costs at the tech center, previously at 6 billion rupees annually. The move reflects industry adjustments amid evolving market dynamics in India's media landscape.
