Zee Media Corporation Limited (formerly Zee News Ltd) has informed BSE that it has received approval from the company’s board to acquire 100% stake in Maurya TV Private Limited which operates the television channel ‘Maurya TV’. The financial details of this acquisition were however not disclosed.
Launched in January 2010 by the noted filmmaker Prakash Jha, Maurya TV is a regional news and current affairs television channel. It started operations in Patna and expanded to Uttar Pradesh & Uttarakhand in June 2011. It was also looking to enter Nepal and Bengal and had apparently conducted a test run in Nepal earlier this year, as indicated by an Exchange4media report.
While the channel programming focused on news and current affairs content, it also offered general entertainment content like daily soaps, movies and others.
From Zee Media’s perspective, this acquisition will probably allow them to enter Bihar and Jharkhand region. Zee Media currently has regional news channels for Maharashtra (Zee 24 Taas), Uttar Pradesh (Zee News Uttar Pradesh), West Bengal (24 Ghanta), Punjab (Zee Punjabi), Andhra Pradesh (Zee 24 Gantalu), Madhya Pradesh and Chhattisgarh (Zee 24 Ghante) and recently launched Rajasthan (Zee Rajasthan Plus). Besides this, it also operates national news channels like Zee News and Zee Business.
In May 2013, Zee Media (erstwhile Zee News Ltd) had also informed that it had received board approval to merge its news broadcasting business with Diligent Media Corporation Limited’s news publication business, which currently prints and publishes the English daily newspaper ‘DNA‘ (Daily News Analysis). The company had then informed that it was looking to leverage the existing business synergies between print and electronic news media through this merger.
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