ZEE Entertainment Enterprises (ZEEL) has confirmed the acquisition of Sarthak Entertainment, which operates Sarthak TV.
With this, the broadcaster is foraying into the Odisha market with its first Odia GEC. ZEE India has bought 100 per cent equity stake in the company.
The deal will strengthen ZEE India’s regional porfolio that also consists of ZEE Marathi, ZEE Talkies, ZEE Bangla, ZEE Bangla Cinema, ZEE Telugu, ZEE Kannada and ZEE Tamizh.
Punit Goenka, MD and CEO, ZEEL says, “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 of the Sarthak Group and Raj Thourani, director, Sarthak TV add, “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”.