Zee Media Corporation (formerly Zee News Ltd) is acquiring regional news and current affairs channel Maurya TV, launched by film maker Prakash Jha a couple of years ago, as per a stock market disclosure. Financial details of the deal were not disclosed.
"The board of directors of the company at its meeting held on October 03, 2013, have approved acquisition of up to 100 per cent equity stake in Maurya TV Pvt Ltd, an entity engaged in the business of broadcasting of a regional news and current affairs television channel 'Maurya TV' in Bihar and Jharkhand; the acquisition shall be subject to regulatory approvals," the filing stated.
Maurya TV went live in January 2010 and commenced operations from Patna. Mukesh Kumar, the director of the channel, looks after the editorial team.
Maurya TV competes with channels like ETV Bihar, Sahara Samay and Mahuaa TV in that region.
Zee Media, a part of Essel Group, comprises a bunch of news content media properties, including television channels like Zee News, Zee Business and 24 Ghanta. It has been looking at ramping up its local and regional content strategy and also integrating content from group firms, including DNA newspaper and india.com.
In the same space, last year TV18 acquired ETV channels from Reliance Industries.
(Edited by Joby Puthuparampil Johnson)