Campaign India Team
Jul 15, 2015

ZEEL to acquire Odia GEC Sarthak TV

All-cash deal of Rs 115 crore subject to regulatory approval

ZEEL to acquire Odia GEC Sarthak TV
Zee Entertainment Enterprises Limited (ZEEL) has announced that it will acquire a 100 per cent equity stake in Sarthak Entertainment. Sarthak Entertainment operates Sarthak TV, an Odia GEC.
 
The acquisition is subject to requisite regulatory approvals. The acquisition will mark ZEEL's foray into Odisha. 
 
Punit Goenka, MD and CEO, ZEEL, 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."
 
Sitaram Agrawalla, founder and MD, Sarthak Group and Raj Thourani, director, Sarthak TV, said in an official statement: "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."
 
Sarthak TV was launched in 2010.
Source:
Campaign India

Follow us

Top news, insights and analysis every weekday

Sign up for Campaign Bulletins

Related Articles

Just Published

7 hours ago

DoubleVerify invests in FirstPartyCapital

Company aims to support innovation in the global adtech ecosystem through this investment.

9 hours ago

Pitches for matches: Brand campaigns uphold the IPL ...

As fans crowd the stadiums across India, advertisers launch fresh high-octane brand messaging combining creativity with cricket.

11 hours ago

Tariff tantrums: When trade wars hit ad budgets

US President Donald Trump’s all-out tariff strike may play to politics, but it’s marketers and advertisers who’ll now have to brace for budget whiplash.

11 hours ago

Meta unveils AI-driven tools for omnichannel ads

Early tests carried out by Meta among India’s e-commerce brands using Advantage+ catalogue ads optimisation witness 14% ROAS growth, the global social media giant states.