ZEE, through its wholly owned subsidiary IDPL, has agreed with Media, PR & Advertising firm Newsreach to invest Rs 8.76 crore.
The investment will be done through subscribing to equity shares and/or convertible equity-linked instruments (Optionally Convertible Redeemable Preference Shares) of Newsreach, The Economic Times.
The investment will happen in tranches. The Tranche – 1 investment is expected to be completed by or before June 30, 2024.
Incorporated in August 2018, Newsreach provides PR and advertorial support/ inventories to companies across India and abroad, also, it helps content creators to buy, sell, and license their content through their platform.