Media major Zee Entertainment (ZEE) has invested Rs 522 crore in tech subsidiary Margo Networks, which offers streaming and advertising services under the ‘SugarBox’ brand name. ZEE owns 80 per cent in Margo.
The additional investment will be used for operational and financial support. “Our investment in SugarBox gives a strong fillip to our overall digital business, sharpening its approach by many folds.
The unique technology will enable us to serve content to consumers across the nation, without being restricted by connectivity constraints,” said Punit Goenka (pictured), managing director and chief executive officer, Zee Entertainment.