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Tycoon races to end mess that erased US$1.6b off Zee


Indian media tycoon Subhash Chandra scrambled over the weekend to stem a crisis that wiped $1.6 billion off his flagship Zee Entertainment Enterprises Ltd.’s market value on Friday.

Indian media tycoon Subhash Chandra scrambled over the weekend to stem a crisis that wiped $1.6 billion off his flagship Zee Entertainment Enterprises Ltd.’s market value on Friday.

MUMBAI: Indian media tycoon Subhash Chandra scrambled over the weekend to stem a crisis that wiped $1.6 billion off his flagship Zee Entertainment Enterprises Ltd.’s market value on Friday and threatened to derail his plans to sell a stake in the company.

Shares of India’s biggest television network and group company Dish TV India Ltd. plunged more than 25 percent in the last two hours of trading after news website The Wire published a report questioning the group’s links to a company that’s being probed by the country’s Serious Fraud Investigation Office.

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