PARTNERSHIPS

To accomplish our mission of continued and sustainable growth, in the addition to growing revenues organically we have sought external growth opportunities through acquisitions, alliances and partnerships. We have entered into joint ventures to gain access to content and technology while we have acquired significant stakes in companies, which offered complementary strengths to our Network.
		Zee Turner
		A 74:26 joint venture between Zee and Turner International to distribute the Zee Turner pay channel bouquet in India and neighboring countries.
		ETC Networks
		ETC Networks Limited (ETC.BO) is a media company listed on the Bombay stock exchange operating two television channels, ETC Music and ETC Punjabi in India. Zee acquired a 51% stake in June 2002.
		Ten Sports
		During the quarter ended December 31, 2006 Zee Sports International Ltd., Mauritius an overseas subsidiary of the Company has acquired 50% controlling stake in Taj TV Ltd., Mauritius (Taj TV) which owns Ten Sports' channel and the Company has acquired 50% controlling stake in 'Taj Television India Private Ltd' a distribution arm of Taj TV. Results of both the companies have been consolidated from the date of acquisition i.e. November 13, 2006.