Zee Entertainment acquires Odia GEC Sarthak TV for Rs 115 crore : economic Times

MUMBAI: Zee Entertainment Enterprises Limited (ZELL) is all set to acquire Odia general

entertainment channel Sarthak TV which is owned by Sarthak Entertainment. The

acquisition will be from current shareholders of Sarthak Entertainment Private Limited,

subject to requisite regulatory approvals, as an all­cash deal at a consideration of maximum

of Rs 115 Crores.

With this acquisition, ZEEL strengthens its regional offering with the objective of growing

rapidly in Odisha. Sarthak TV airs highly a mix of reality and non­fiction shows besides

fiction programming.

The other regional channels from the ZEEL bouquet are Zee Marathi, Zee Talkies, Zee

Bangla, Zee Bangla Cinema, Zee Telugu, Zee Kannada and Zee Tamizh.

Commenting on the acquisition, MD & CEO of ZEEL, Punit Goenka said, "The acquisition of

an already profitable, market­leading 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 & Managing Director of the Sarthak Group and Raj Thourani, Director, Sarthak TV, further added, "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

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Eros to invest $25 million to develop original content for online channel : Economic Times

MUMBAI: Eros International is investing $25 million, or about Rs 160 crore, in developing

original content for its fully­owned online channel ErosNow, said Jyoti Deshpande, group

CEO and managing director at the Mumbaibased film production house. "Original content is

the way forward," she said.

In India for the official marketing launch of ErosNow, Deshpande refused to comment on

recent media reports that two of Eros International's top shareholders, Temasek and

Fullerton Fund Management, were in talks to acquire up to 10 per cent stake in ErosNow. A

couple of people close to the NYSE­listed company is ready to dilute up to 10 per cent stake

in the online channel and, according to media analysts, it could fetch up to Rs 500 crore.

Deshpande said, "We are poised to take advantage of the brisklygrowing broadband

penetration and the imminent launch of 4G technology to reach out to the potential audience

offered by close to a billion mobile connections."

Also, a huge upsurge is expected in advertising spend on the digital platform. A Goldman

Sachs report predicted it to touch $2.7 billion by 2020.

"As consumption patterns change globally, Internet entertainment networks have begun to replace traditional, linear television,"

Deshpande said. "With the strength of our vast content library, Eros will reinvent itself from a film studio to a more consumer facing content and digital company in the next phase of growth," she said.

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