Shares of Zee News plunged over 75% to end at Rs18. Zee News had approved the Scheme of Arrangement whereby the Regional General Entertainment Channel (GEC) business of the company would be de-merged and transferred to Zee Entertainment Enterprises with effect from January 1, 2010 (appointed date).
April 16 was fixed as the Record Date for determination of members of the company who would become eligible for issuance of equity shares by Zee Entertainment Enterprises.
