Mumbai − Further strengthening its already dominant line-up of regional channels, Zee Entertainment Enterprises Limited (ZEEL) hereby announced 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.