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ETC's broadcasting and Cornershop to merge into ZEEL
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<img style="float:left; margin: 0px 10px 0px 0px;" src="http://www.mediamughals.com/images/news/Zee-ETC-Cornershop.jpg"/>
Zee Entertainment Enterprises Ltd. (ZEEL), the largest producer and aggregator of Hindi programming in the world and one of the most popular entertainment brands in India is taking inside the ETC Network's broadcasting business and Cornershop Entertainment Company as a part of their restructuring development process.

The deal will take place with the de-merging of ETC Music and Punjabi from ETC Networks and moving in the hands of ZEEL along with Cornershop Entertainment Company to be a part of the unit.

Cornershop Entertainment is into the animation business, has wholly owned subsidiaries - Cornershop Animation Company, Digital Media Convergence and Re-Med Services. These are getting merged under a scheme which has been approved by the ETC board

The merger will give ZEEL, a direct portfolio of Punjabi entertainment and a supportive Hindi film music channel as well.

ETC Networks had posted a consolidated net profit of Rs 86.14 million on a net sale of Rs 726.59 million for the fiscal ended 31 March 2009. The broadcasting segment had reported revenue of Rs 415.27 million.

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