Zee Entertainment should cut costs in profit pursuit, says panel

A new company-formed review panel by Zee Entertainment stated the firm should substantially reduce losses in its businesses, including its English TV channels, and cut costs in other areas to meet a key profit target, the broadcaster said on Tuesday.

The move — coming on the heels of a failed $10 billion merger with Sony India and the collapse of a $1.4 billion cricket broadcasting deal over a missed payment — is aimed at helping the loss-making company hit key performance targets, Zee said.