Mumbai, July 15 2015: Further strengthening its already dominant line-up of regional channels, Zee Entertainment Enterprises Limited (ZEEL) hereby announces in principle decision to acquire 100% equity stake in Sarthak Entertainment Pvt Ltd which operates ‘Sarthak TV’, the number 1 GEC in Odia language.
The acquisition shall be from current shareholders of Sarthak Entertainment Private Limited, subject to requisite regulatory approvals, as an all-cash deal at a consideration of maximum of Rs. 115 Crores
With this acquisition, ZEEL has entered the rapidly expanding regional market in Odisha. Sarthak TV, the number 1 player in the entertainment space in Odisha would complement ZEEL’s strong regional bouquet of channels viz. Zee Marathi, Zee Talkies, Zee Bangla, Zee Bangla Cinema, Zee Telugu, Zee Kannada and Zee Tamizh.
Launched in 2010, Sarthak TV leads the Odia GEC pecking order. The channel has been successful in creating high quality content catering to the needs of local audience. It airs highly successful reality and non-fiction shows besides being the market leader in the fiction segment.
Commenting on the acquisition, MD & CEO of ZEEL, Mr. Punit Goenka said, “We are pleased to announce the acquisition of Sarthak as we continue to invest in tomorrow. 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. Sarthak will further add to our formidable bouquet of 33 channels in the domestic market”.
Mr. Sitaram Agrawalla, Founder & Managing Director of the Sarthak Group and Mr. Raj Thourani, Director, Sarthak TV, further added, “It gives us great pleasure to announce that Sarthak will now be a part of India’s leading 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. With a history of successful operations, we are sure Sarthak will be a great value-add for ZEEL”.
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Note to Editors
About Zee Entertainment Enterprises Limited (ZEEL)
Zee Entertainment Enterprises Limited is one of India’s leading television media and entertainment companies. It is amongst the largest producers and aggregators of Hindi programming in the world, with an extensive library housing over 120,000 hours of television content. With rights to more than 3,500 movie titles from foremost studios and of iconic film stars, ZEE houses the world’s largest Hindi film library. Through its strong presence worldwide, ZEE entertains over 959 million viewers across 169 countries.
Pioneer of television entertainment industry in India, ZEE’s well-known brands include Zee TV, &tv, Zee Cinema, Zee Action, Zee Classic, &pictures, Zee Anmol, Zee Smile, Ten Sports, Ten Cricket, Ten Action, Ten Golf, Zee Cafe, Zee Studio, Zee Salaam, Zing, ETC Music, Zee Khana Khazana, Zee Q and Zindagi. The company also has a strong offering in the regional language domain with channels such as Zee Marathi, Zee Talkies, Zee Bangla, Zee Bangla Cinema, Zee Telugu, Zee Kannada and Zee Tamizh. The company’s HD offerings include Zee TV HD, Zee Cinema HD, &tv HD, Zee Studio HD, &pictures HD and Ten HD.
ZEE and its affiliate companies have leading presence across the media value chain including television broadcasting, cable distribution, direct-to-home satellite services, digital media and print media amongst others. More information about ZEE and its businesses is available on www.zeetelevision.com.
About Sarthak Entertainment Pvt Ltd
Founded in the year 2010, Sarthak is the No. 1 regional GEC in Odisha, producing highly popular content ranging from serials, reality shows, other non-fiction shows and films. It is Odisha’s favourite TV channel (Average GVT of 9,500), touching the lives of the rural and urban, young and old, in every corner of Odisha. It reaches nearly 5 million people every week.