ZMCL gets MCA nod to incorporate AI app Pinews Digital
Pinews Digital is an AI-driven hyper-local app and will offer a personalized and curated feed
The Ministry of Corporate Affairs has given its nod to Zee Media Corporation Ltd (ZMCL) to incorporate a wholly-owned subsidiary Pinews Digital, a platform to carry on the business of its mainstream media through an AI-driven hyper-local app.
According to sources, Pinews will integrate AI with human storytelling to craft a unique experience where local perspectives intertwine, offering a personalized narrative curated feed as per the users’ PIN code.
Informing the Bombay Stock Exchange, ZMCL said that its application for the same has been approved by the ministry.
“This is in continuation to our earlier intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) dated February 12, 2024, wherein it was informed that the Board of Directors of the Company at their meeting held on February 12, 2024, has inter-alia considered and approved incorporation of a Wholly Owned Subsidiary Company, which shall inter-alia carry on the business of mainstream media, through Hyper Local App, by intelligently driven Artificial Intelligence.
“In this regard…we would like to update that basis the application made in this regard, the Ministry of Corporate Affairs (MCA) has approved the incorporation of the said Wholly Owned Subsidiary of the Company, in the name and style of “Pinews Digital Private Limited” on July 3, 2024,” ZMCL said in its intimation to BSE.
