Zee to acquire stake in Venus
311 ViewsZee Telefilms Ltd. will soon be acquiring a major stake in Venus Films Pvt. Ltd. and Venus Records & Tapes Pvt. Ltd. Zee Telefilms Ltd. is a part of the $5 billion Essel Group and will be buying 60% stake in Venus Films Pvt. Ltd. The board of directors at Zee yet has to complete the formalities of the deal.
Officials in both the companies believe that the deal will be beneficial to both the companies. Venus has been a big player in the entertainment industry. Some of their major hits have been films like Khiladi, Baazigar and most recently Garam Masala.
It is this very fact that prompted Zee Telefilms to invest in the companies. None of the financial details of the deal have been revealed at this stage.
Source: Indiafm.com
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April 5th, 2006 at 4:27 pm
It should not have happen. Venus is a popular brand from past. Even it will be acquired, I dont think Zee will maintain the quality what Venus had.