Corporate News 25-May-23
Board of Zee Entertainment Enterprises decides to discontinue funding of Margo Networks
At meeting held 25 May 2023
The Board of Zee Entertainment Enterprises at its meeting held on 25 May 2023 has decided to discontinue the funding towards Margo Networks (SugarBox) due to the macro-economic environment, inflationary headwinds and conditions for impending merger. This decision is driven by the capital allocation priorities of the Company and it intends to preserve capital for the targeted growth in digital and sports business.
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