Comcast-led consortium bids for majority stake in debt-laden Zee

Subhash Chandra-led Zee Group could soon be out of its debt woes.

A consortium led by US cable company Comcast, including Atairos, Blackstone and James Murdoch’s Lupa Systems, has put in a non-binding bid to acquire a majority stake in Zee Entertainment.

Zee already has another offer from an Asian investor group, according to sources close to the development. The company is expected to finalise the deal in two days, said a source.

The promoter group owns an about 36 per cent stake in Zee Entertainment. If the deal goes through, Chandra may completely exit the company.