9X
Encyclopedia
9X is an India
n Hindi general entertainment channel based in Mumbai
. It is owned by Zee Entertainment Enterprises. The channel was launched on November 12, 2007 in India. Launched as the flagship of the INX Network
, 9X promises to provide world-class fiction and non-fiction programming and Bollywood films.
On 10 August 2009, 9X ceased broadcasting in the UK on Freesat
and Sky Digital
where it had been a free-to-air channel.
On 28 October 2010, 9x was officially discontinued from Tata Sky
for 9X, who owe Rs 130 crore to creditors. The INX management is expected to pitch in with some money of their own to seal the deal with the creditors, who are expected to agree with to the deal. INX is then expected to spin off 9X, which will be taken over by Zee after a court approves the arrangement. After the 9X sale, INX will be left with just the music channel 9XM
. On 20 April 2010, Zee Entertainment Enterprises confirmed that it had secured an in-principle approval from its board for acquisition of 9X, under a Scheme of Arrangement, subject to appropriate statutory and regulatory approvals. The board met again on 29 April to consider, the terms of the Scheme of Arrangement, including the share swap ratio, the appointed date, etc.
On 29 April 2010, ZEE Network's board of directors has approved the Scheme of Arrangement between ZEEL (ZEE Entertainment Enterprises) and INX Media, former owners of 9X. With the arrangement, 9X will exit INX Media and vested into ZEE Network, with a proposed acquisition funded by issuance of new shares by ZEEL to shareholders of INX. The share swap ratio has been proposed at 1 (one) equity share of Rupee 1/- each of ZEEL for every 71 (seventy one) equity shares of Rupees 10/- each of INX held by the shareholders of INX, as on June 30, 2010. ZEEL would also take over liability of Rs 60 crore. As of today, ZEE’s is priced at Rs 306 per share. 9X is expected to retain its current brand, despite being bought out by ZEE Network.
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
n Hindi general entertainment channel based in Mumbai
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
. It is owned by Zee Entertainment Enterprises. The channel was launched on November 12, 2007 in India. Launched as the flagship of the INX Network
INX Network
INX Network is a television network based in Mumbai, India. The company was founded by Indrani Mukerjea in 2007 through two companies, INX Media Pvt Ltd and INX News Pvt Ltd...
, 9X promises to provide world-class fiction and non-fiction programming and Bollywood films.
On 10 August 2009, 9X ceased broadcasting in the UK on Freesat
Freesat
Freesat is a free-to-air digital satellite television joint venture between the BBC and ITV plc, serving the United Kingdom. The service was formed as a memorandum in 2007 and has been marketed since 6 May 2008...
and Sky Digital
Sky Digital (UK & Ireland)
Sky is the brand name for British Sky Broadcasting's digital satellite television and radio service, transmitted from SES Astra satellites located at 28.2° east and Eutelsat's Eurobird 1 satellite at 28.5°E. The service was originally launched as Sky Digital, distinguishing it from the original...
where it had been a free-to-air channel.
On 28 October 2010, 9x was officially discontinued from Tata Sky
Sale to Zee Entertainment Enterprises
On 8 March 2010, it was revealed that Zee Entertainment Enterprises had made a bid of Rs 65 croreCrore
A crore is a unit in the Indian number system equal to ten million , or 100 lakhs. It is widely used in India, Bangladesh, Nepal, and Pakistan....
for 9X, who owe Rs 130 crore to creditors. The INX management is expected to pitch in with some money of their own to seal the deal with the creditors, who are expected to agree with to the deal. INX is then expected to spin off 9X, which will be taken over by Zee after a court approves the arrangement. After the 9X sale, INX will be left with just the music channel 9XM
9XM
9X Media Pvt. Ltd. is a prominent television network / broadcaster in India. 9X Media is owned by a consortium of Private Equity Fund investors.-Stations:...
. On 20 April 2010, Zee Entertainment Enterprises confirmed that it had secured an in-principle approval from its board for acquisition of 9X, under a Scheme of Arrangement, subject to appropriate statutory and regulatory approvals. The board met again on 29 April to consider, the terms of the Scheme of Arrangement, including the share swap ratio, the appointed date, etc.
On 29 April 2010, ZEE Network's board of directors has approved the Scheme of Arrangement between ZEEL (ZEE Entertainment Enterprises) and INX Media, former owners of 9X. With the arrangement, 9X will exit INX Media and vested into ZEE Network, with a proposed acquisition funded by issuance of new shares by ZEEL to shareholders of INX. The share swap ratio has been proposed at 1 (one) equity share of Rupee 1/- each of ZEEL for every 71 (seventy one) equity shares of Rupees 10/- each of INX held by the shareholders of INX, as on June 30, 2010. ZEEL would also take over liability of Rs 60 crore. As of today, ZEE’s is priced at Rs 306 per share. 9X is expected to retain its current brand, despite being bought out by ZEE Network.