Media tycoon battles to retain his US$4bil empire

Dramatic fued: A guard stands next to a banner of Zee TV which streaming platform is a leader among local players with almost 73 million monthly active users. — Reuters

NEW DELHI: Subhash Chandra is no stranger to corporate battles. In 1998, when his then partner Rupert Murdoch attempted to buy out their thriving five-year-old Indian television venture, the entrepreneur deftly fended off the billionaire to wrest back control of what became Zee Entertainment Enterprises Ltd.

More than two decades later, India’s largest publicly traded entertainment network is back at the centre of a complicated boardroom feud: Chandra and his supporters versus Atlanta-based Invesco Developing Markets Fund, Zee’s biggest shareholder with an 18% stake.