India’s biggest entertainment consortium, Zee Entertainment Enterprises Ltd is planning to acquire 49% equity stake in the Webportal Pvt. ltd. at the price of ₹197.47 Crore ($30.7 million) to strengthen the media business and to start something innovative and different for the people who love to watch entertainment and want to connect with it and remain updated. Not only this, the company is also planning to connect with the Tagos Design Innovtion by acquiring 12.5% stake at ₹16.08 Crore ($2.5 million).
Webportal pvt. Ltd. distributes media related things like content and other entertaining mediums. Content provided on the platform is through various media websites like, India.com, Bollywoodlife.com and Cricketcountry.com. These are few media websites which source their content to the portal. They provide standard content and cover almost all the news about media and entertainment, so they don’t need support from other portal to update themselves.
Previously, the company had MMC Investment Holding Company with 44% stake and Ashok Kurien with 4% stake, they are connected and in relation from the beginning and maintained their relation till today. Tagos Design Innovations is a technology startup which has developed a video discovery platform.