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ZEE Media to invest Rs 8.76 crore in NewsReach
The investment will be conducted in phases, with the first tranche expected to be finalised by or before June 30, 2024.
ZEE, via its fully owned subsidiary IDPL (IndiaDotcom Digital), has inked a deal with Newsreach, media, PR and advertising firm, for an investment of Rs 8.76 crore, as reported by The Economic Times. This investment will involve subscribing to equity shares and/or convertible equity linked instruments, such as Optionally Convertible Redeemable Preference Shares, of Newsreach.
The investment will be conducted in phases, with the first tranche expected to be finalised by or before June 30, 2024.
Established in August 2018, Newsreach offers PR and advertorial support/inventories to companies in India and abroad. Additionally, it facilitates content creators in buying, selling, and licensing their content.