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Zee announces revenue vertical changes in broadcast business, as Rahul Johri steps down

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Zee announces changes to revenue vertical of broadcast business, Rahul Johri quits

Zee Entertainment Enterprises Ltd has made strategic changes in its revenue vertical for its broadcast business, led by managing director and chief executive Punit Goenka. As part of these developments, Rahul Johri, the president of business at Zee Entertainment, has resigned after a tenure of three and a half years. The company is anticipating more senior-level exits in the near future.

Before joining Zee, Rahul Johri served as the CEO of the Board of Control for Cricket in India and as the executive vice-president at Discovery channel. Following Johri’s departure, Ashish Sehgal, the chief growth officer for ad revenue, will now report directly to Punit Goenka, who will play a more direct role in managing the revenue teams.

Punit Goenka expressed his appreciation for Rahul Johri’s contributions, wishing him success in his future endeavors. The company stated that this restructuring is aimed at streamlining the organization to optimize resource allocation and improve productivity. These changes come in the aftermath of the failed merger between Zee Entertainment and Sony Pictures Entertainment.

Additionally, Zee revealed a strategic approach focusing on cost reduction, minimal business overlap, and enhanced quality to regain margins. Goenka emphasized the importance of frugality, quality, and increased value delivery to advertisers. The company aims to recover margins gradually, targeting an 18% to 20% Ebitda margin by fiscal year 2026.

Despite a 6.4% year-on-year decrease in net profit and lower operating revenue in the third quarter of fiscal year 2024, Zee Entertainment remains optimistic about its future prospects. Sony Pictures Entertainment terminated the merger agreement with Zee Entertainment on 22 January, marking a significant development in the company’s recent corporate trajectory.

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