Zee Media awaits MIB clearance to rename Maurya TV as Zee Purviaya | DTH Forum with Fastest DTH Updates

Zee Media awaits MIB clearance to rename Maurya TV as Zee Purviaya
MUMBAI: Subhash Chandra-promoted
Zee Media Corporation Ltd (ZMCL) is
planning to rename its news and
current affairs channel Maurya TV as
Zee Purvaiya. Maurya TV is owned by
Maurya TV Pvt Ltd (MTPL), a wholly
owned subsidiary of ZMCL.
The company is currently awaiting
clearance from the Ministry of
Information & Broadcasting (MIB) to
give effect to the name change.
ZMCL CEO Ashish Pandit was
unavailable for comment till the filing
of this report.
It is pertinent to note that ZMCL was
earlier looking to launch two
channels, Zee Purvaiya and Zee
Kalinga, for Bihar/Jharkhand and
Odisha markets respectively.
Zee Kalinga was launched in early
2014 in place of Zee 24 Ghantalu,
which was shut in 2013 end. Maurya
TV, on the other hand, was to be re-
launched as Zee Purvaiya. However,
the company did not receive approvals
for the same.
In FY15, Maurya TV was converted
from terrestrial entertainment
network (TEN) format into a 24×7
news channel.
The company claims that the channel
reaches more than 2.1 million viewers
across India. It also said that the
channel enjoys a market share of
14.2 per cent in Bihar and Jharkhand.
MTPL had a turnover of Rs 39.73
million in FY15. Its share capital
stood at Rs 221.32 million. Its total
assets were valued at Rs 122.71
million, while it had liabilities to the
tune of Rs 67.87 million.
MTPL became a wholly owned
subsidiary of ZMCL with effect from
12 December 2014.
On 7 October 2013, ZMCL had entered
into a share purchase agreement
(SPA) with the promoters of Maurya
TV—Prakash Jha, Sangita Jha,
Manmohan Shetty and Krishanlal
Chabbra—to acquire a 100 per cent
stake in the company.
The company held 37.87 per cent stake
in MTPL until 11 December 2014. It
was later hiked to 100 per cent,
thereby making it a wholly owned
subsidiary. ZMCL had bought MTPL for
an aggregate value of Rs 7.79 crore
(Rs 77.9 million).
ZMCL owns two national (Zee News
and Zee Business) and eight regional
local news channels (Zee Sangam, Zee
Marathi, Zee Rajasthan, Zee MP/
Chhattisgarh, Zee Kalinga, 24
Ghanta, Zee Punjab/Haryana/
Himachal, and Maurya TV).
The network claims to reach over 119
million audiences through its
television network and over 186
million through digital media across
the country and abroad.
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