ETC Networks merging with Zee Interactive Learning Systems

ETC Networks merging with Zee Interactive Learning Systems

Indian broadcaster ETC Networks Ltd. has stated that their board has now approved its merger with Zee Interactive Learning Systems Ltd.

This merger would be effective from April 1. The company added that they have fixed the share-swap ratio at two shares in ETC for each held in Zee Interactive.

Lakshmi Narayanan, company secretary of Zee Entertainment added: “ETC’s profits have been stagnating in the last 3-4 years, but education is a growing business and with some investment it can grow quickly.”

ETC runs Hindi and Punjabi languages channels in India. The company said that their shares would be delisted and relisted by January 2008.

Narayanan added: “We may not expand the broadcast business, but we have plans for the education side, which is a sunrise industry.”