Zee Media purchases Maurya TV for Rs 7.79 crore.

Dinesh jain

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#1
well have been a distress sale.
Zee Media Corporation Ltd (ZMCL) has acquired
Maurya TV Pvt Ltd, the company which ran Hindi
news and current affairs channel Maurya TV in
Bihar and Jharkhand, for just Rs 7.79 crore (Rs
77.92 million).

ZMCL, which held 37.87 per cent of Maurya TV
Pvt Ltd, bought out the remaining stake last
month to take complete ownership of the
company.

ZMCL has invested Rs 6.14 crore (Rs 61.38
million) in Maurya TV, which included Rs 2.13
crore (Rs 21.32 million) as investment in equity
shares, Rs 1.94 crore (Rs 19.36 million) as
security deposit and Rs 2.25 crore (Rs 22.50
million) as channel management fee.

In the first half of FY15, ZMCL spent Rs 6.63
crore (Rs 66.28 million) as channel management
fee and Rs 0.2 crore (Rs 2.11 million) towards
other operational expenses.

Maurya TV, a free-to-air (FTA) news and current
affairs channel for the Bihar and Jharkhand
markets, was initially launched in February 2010.
However, after entering into the SPA, ZMCL re-
launched Maurya TV as Zee Purvaiya (for Bihar
and Jharkhand) on 16 January 2014.

Apart from Maurya TV, ZMCL’s broadcasting
network comprises two national channels—Zee
News and Zee Business—and seven regional
news and current affairs channels—Zee 24 Taas
(Marathi), 24 Ghanta (Bengali, owned and
operated by Zee Akaash News Pvt Ltd, a 60 per
cent subsidiary of ZMCL), Zee Sangam (UP and
Uttarakhand), Zee Punjab Haryana Himachal
(Punjabi and Hindi), Zee Madhya Pradesh
Chhattisgarh (regional Hindi), Zee Marudhara
(Hindi for Rajasthan) and Zee Kalinga (Oriya).


Zee Media purchases Maurya TV for Rs 7.79 crore | TelevisionPost.com
 
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