The leading television broadcasting firm of the country, Zee network board has approved the acquisition of one of the other channel of India i. e. 9X. The board has decided to have a common meeting on 29th of this month to consider various issues related to the deal.

Basically, the board has to decide on the terms of the schemes and the share swap ratio.

Zee Entertainment Enterprises Ltd. is India's number one entertainment firm. On the other hand, 9X is a channel which both in entertainment and news field. The 9XM and the 9X news have been owned and operated by the INX Media Private Limited.

This is a general entertainment channel and the acquisition by the market biggie like Zee is expected to help the restructure its share in the Indian market.

However, VC Circle had informed earlier that the INX Media wants to divest its channel (GEC) 9X to Zee Tele Films after settling its creditors. The creditors have to receive around Rs. 9o crore from the INX Media.