Zee can participate in IPL e-auction on its own, says MD Punit Goenka

Statement comes as company re-enters sports broadcasting after six years; unlikely to bid along with Sony

Zee Entertainment Enterprises (Zee) may bid for the upcoming media rights of the Indian Premier League (IPL) on its own, the company's MD and CEO Punit Goenka told analysts in a call, putting to rest speculation that it would do so along with Sony Pictures Networks India with whom it is merging.

Addressing investor queries, Goenka said the company had a strong balance sheet and could therefore go solo during the e-auction, which is slated for June 12. "We can participate in the IPL tender process on our own. We have a very healthy balance sheet. Certainly, we have the