Zee Telefilms‘ open offer for 20 per cent additional stake in ETC Networks at Rs. 31.52 per share opens today.

This follows the Zee‘s acquisition in February of a 48.38 per cent of ETC promoters‘ stake. In its offer letter Zee had said: "The acquisition of majority stake in ETC Networks will enable Zee Telefilms to have undisputed market leadership in the music and Punjabi segments besides providing access to the ETC library."

Meanwhile, the Subhash Chandra broadcaster clarified yesterday that its recent offer to acquire a major stake in Telugu animation major Padmalaya Telefilms would remain at Rs. 148.50 per share. Zee said that it would not increase the offer price for acquiring 20 per cent in Padamalaya Telefilms. Zee‘s clarification came in response to queries raised after PTL‘s ruling price reportedly touched Rs. 153.25 on Monday. The scrip is currently trading at Rs 149.

Zee‘s open offer for 20 per cent more of PTL is expected to open on 5 May. The offers comes on the heels of newly acquired Zee subsidiary Padmalaya Enterprises acquiring a 34 per cent stake in PTL.

Zee stake at 73% after ETC allots preferential shares
Zee takes 33 % stake in Padmalaya Telefilms

National broadcaster Doordarshan has flagged off a regional news unit in Ranchi yesterday, the capital of the new north Indian state of Jharkhand.

Information & Broadcasting Minister Sushma Swaraj was present for the inaugaration on Tuesday. During the same ceremony, Swaraj also launched the satellite uplinking of DD‘s Ranchi unit.

She also inaugarated the branch office of the Press Information Bureau and the Directorate of Advertising and Visual Media.

Other luminaries who were present for the opening of the regional news unit include Union Finance Minister Yashwant Sinha, Union Agro Industries Minister Karia Munda and Minister of State for Rural Development Rita Verma.