Zee News Limited (ZNL) has acquired 26 per cent stake in Sky B (Bangla) Pvt Ltd, the company which runs Bengali infotainment channel Akaash Bangla.
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ZNL will pay close to Rs 200 million for the stake acquisition, a source familiar with the transaction said.
According to the agreement, ZNL will handle the channel’s marketing, advertising sales and programming for a fee. Sky B, however, will continue to produce news programming for the channel.
Said Zee News Ltd. CEO Barun Das, “At Zee News Limited we look at East as a market of strategic importance and would like to strengthen our presence there to emerge as the single largest player in electronic media. Our endeavor would also be to leverage the strong brand equity of Akaash Bangla. We foresee extremely encouraging upside for Zee News Limited through this arrangement.”
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ZNL’s plan is to dominate the Bengali market with a second general entertainment channel. Zee Bangla is already the leading GEC in that market. Akaash Bangla will close this fiscal with a revenue of around Rs 200 million in a Rs 2.5 billion market.
ZNL has an old relationship with Sky B, having acquired a 60 per cent stake in Bengali news channel 24 Ghanta.
Tags: Zee News