As far as corporate announcements go, Zee Entertainment Enterprises Ltd’s flew under the radar, coming as it did in the middle of a lockdown.
A month ago, Zee, one of India’s biggest media houses, said it would invest Rs 522 crore ($69 million) in Margo Networks. That’s a pretty penny, considering Zee bought an 80% stake in the startup in April 2017 for about Rs 70 crore ($9.2 million). Margo offers streaming connectivity under the brand name SugarBox.
SugarBox’s technology lets users stream content on their mobile phones on the go without eating up their cellular data.