NEW DELHI, JAN 13: A statement from the Zee Telefilms Ltd board of directors today sought to set at rest speculation about a merger with Star TV. While declaring the company net profit for the nine-month period ending December 31, the statement said the directors unanimously decided not to pursue the discussion with Star until a ``true and fair valuation'' of the Zee Group's business was done. It said this was consistent with Chairman Subhash Chandra Goel's commitment that the interest of minority shareholders would ``not be compromised''.The statement also announced the board's approval of eight new channels, six of them regional. It added: ``These pay channels, to be transmitted digitally, will be uplinked from India at an investment of Rs 110 crore and are expected to bring in substantial advertising and subscription revenue.''
