India"s
largest
media
company,
Zee
Entertainment
Enterprises
Limited
(ZEEL)
has
got
approval
to
acquire
9X,
a
general
entertainment
channel(GEC)
owned
by
INX
Media
Pvt
Ltd.
According
to
reports,
the
deal
is
expected
to
cost
around
60-70
crore.
The
board
of
directors
will
have
a
meeting
on
April
29
to
consider
the
terms
of
the
deal,
share
swap
ratio
etc.
The
same
has
been
intimated
to
stock
exchanges.
It
is
also
reported
that
the
company
has
also
declared
a
special
interim
dividend
of
2
rupees
a
share.
INX
Media
was
founded
by
Peter
Mukherjee
in
2007-08.
In
2009
he
cobbled
$170
through
a
private
equity
fund
which
made
him
to
step
down
from
the
management.
Now
Pradeep
Guha,
former
Zee
group
CEO
is
handling
the
management.
Story first published: Thursday, April 22, 2010, 13:46 [IST]