Mumbai: It has been reported that Zee Entertainment Enterprises Limited (ZEEL) is poised to make a deal with the Odia entertainment channel called Sarthak TV for buying the latter at an all cash consideration of Rs 115 crore. Notably, Sarthak TV is owned by Sarthak Entertainment Private Limited and the channel will be acquired from the current shareholders of the company, with respect of the required regulatory approvals.
As ZEEL acquires this channel, it will be taking a step in the direction of making its regional presence stronger, with the purpose of experiencing a rapid growth in the state of Odisha. In addition to airing fiction programs, Sarthak TV is noted for its reality as well as non reality fiction based shows, which enjoy a great deal of popularity amongst regional viewers.
In addition to the latest acquisition, ZEEL has a number of other regional channels in its bouquet, which include Zee Bangla, Zee Bangla Cinema, Zee Tamil, Zee Telugu, Zee Kannada, Zee Marathi and Zee Talkies.
According to Punit Goenka, MD & CEO of ZEEL, “With the acquisition of a venture which is already a leader in the market and is making high profits, the company has moved one step ahead along its aim to enhance the value of investment for their shareholders. As we acquire Sarthak, it will be a great addition to our present bouquet which comprises of 33 channels in the domestic market.”
It has been further stated by Raj Thourani, Director of Sarthak TV and Sitaram Agarwalla, Founder & Managing Director of Sarthak TV, “Sarthak TV would now be a part and parcel of a leading entertainment network of the country. One of the oldest channels in the country and a market leader, ZEEL would make an excellent platform for the future growth of Sarthak TV. We are confident that the channel would be a valuable acquisition for ZEEL.”