Zee's IDPL To Invest Rs 8.76 Crore In PR Firm Newsreach
Zee Entertainment Enterprises (ZEEL), through its wholly owned subsidiary IDPL invested in the media, PR and advertising firm Newsreach. The investment totals to Rs 8.76 crore.
The investment will be made through subscribing to equity shares and/or convertible equity-linked instruments, specifically 'Optionally Convertible Redeemable Preference Shares' of Newsreach. This infusion of funds will be executed in tranches, with the first tranche expected to be completed by or before June 30, 2024.
Established in August 2018, Newsreach specializes in providing PR and advertorial support/inventories to companies across India and abroad. Additionally, it operates a platform that facilitates content creators in buying, selling and licensing their content, offering a comprehensive suite of services to its clients.
