BENGALURU, March 26 (Reuters) - India's Zee

Entertainment Enterprises has formed a committee that

reviewed its management's business performance and provided

guidance, the beleaguered broadcaster said on Tuesday.

Businesses identified by the committee that need to

"substantially" reduce losses include Zee's television channel

'Zindagi', the company's English cluster of linear TV business,

and server technology company Margo Networks.

The move comes after Zee has had entertainment deals fizzle

out in recent months, with a $10 billion merger with the Indian

unit of Japan's Sony ( SONY ) scrapped and a $1.4 billion

cricket broadcasting agreement with the Walt Disney ( DIS )

-owned Star India that Zee quit.

The committee has also advised that Zee's management

reduce expenditure at its Bengaluru-based Technology and

Innovation Centre by 50% for fiscal 2025, the company said.

Expenses at the facility in the last year stood at 6 billion

rupees ($72.1 million), Zee said.

($1 = 83.2670 Indian rupees)