Zee has acquired 9X Media's six music channels for INR1.6b (1x FY17 sales). 9X Media holds ~26% share in the music ad market. The acquisition allows Zee to widen its TV portfolio and also provides channels to market its own music/movie production. We maintain our Buy recommendation for Zee, with a TP of INR630. Has acquired 9X Media's six music channels for INR1.6b in cash Zee announced the acquisition of 9X Media's six music channels for INR1.6b, which will be paid in cash. These six channels across four languages 9XM (Latest...