Zee Media acquires Maurya TV for INR77.9mn

Zee Media Corporation (ZMCL) has announced the acquisition of Maurya TV with an investment of INR77.92 million. On 7 October 2013, ZMCL had entered into a share purchase agreement with the promoters of Maurya TV – Prakash Jha, Sangita Jha, Manmohan Shetty and Krishanlal Chabbra – to acquire 100% stake in the company. But ZMCL had purchased 37.8% stake then and the acquisition was closed in December 2014.

Maurya TV was launched in 2010 which is a free-to-air news and current affairs channel for the Bihar and Jharkhand markets. ZMCL re-launched Maurya TV as Zee Purvaiya on 16 January, 2014.

The channel posted a revenue of INR46.94 million in the fiscal year 2014 as compared to INR20.92 million in FY 2012-13. Its net loss stood at INR13.31 million in the FY 2014 as compared to INR26.51 million in FY 2013.