Punit Goenka has quit as Non-Executive Non-Independent Director from Zee Media, the company announced in a regulatory filing on Wednesday. The regulatory filing cited “preoccupation” as the reason for his departure from Zee Media’s board. Mint reported that Goenka will remain in his capacity as Zee Entertainment managing director and CEO. We have reached out to Zee Entertainment for comment — note that Zee Media manages the Essel conglomerate’s news verticals, while Zee Entertainment comprises the company’s music, film production, entertainment TV channels, and the streaming service Zee5.
Zee5, Zee Entertainment’s streaming service, announced earlier this month that it would release its own TikTok-like short video streaming platform, HiPi as a part of the app itself, like Instagram Reels. The app is tentatively scheduled to roll HiPi out around September.
Zee5’s head, Tarun Katial, was appointed as the chair of the Internet and Mobile Association of India’s Digital Entertainment Committee in May. The DEC is a body in the IAMAI that is currently at loggerheads over-regulating OTT platforms, with members disagreeing over a proposed self-regulatory code that would set up a Digital Content Complaints Committee.