Media Giant Zee Entertainment Enterprises Ltd (ZEEL) announced acquisition of Most Popular  Odia Entertainment channel ‘Sarthak TV’ for Rs 115 crore.

 

“The Board has approved in-principle, acquisition of 100 per cent equity stake in Sarthak Entertainment Pvt Ltd, an entity which owns and operates ‘Sarthak’, a  Most Popular  Odia Entertainment  channel,” it said.

 

On the acquisition, MD; CEO of ZEEL, Punit Goenka said.The acquisition of an already profitable, market-leading venture is going to be a value accretive investment in line with our philosophy of enhancing shareholder value.

 

 

Sitaram Agrawalla, Founder and MD of the Sarthak Group, further added, Sarthak will now be a part of India's leading and largest entertainment network. Being the oldest and market leading network in India, ZEEL would provide the perfect platform for Sarthak to grow further in the future. 

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