Zee deal took just 45 minutes over breakfast : Punit Goenka

The Zee Group’s decision to sell stake in its flagship Zee Entertainment was a forced one given the pressure from lenders to settle their debt of ₹11,000 crore by September. While a number of players including Comcast were keen to buy a stake in it, US-based Invesco Oppenheimer, which already owns 8 per cent stake in the company, emerged the white knight. BusinessLine spoke with Punit Goenka, MD & CEO at Zee Enterprises, to understand the contours of the deal. Excerpts:

How tough was the decision to sell given Zee Entertainment is the jewel in the group’s crown?

It’s not a difficult choice once you come to terms with it. I came to terms with it on January 25 itself.