ZEE MD and CEO Goenka acquired a majority stake in Maverick Media in a personal capacity

New Delhi: Punit Goenka, MD and CEO of Zee Entertainment, in his personal capacity, has acquired a majority stake in Maverick Media for an undisclosed amount. Promoted by Vishta Entertainment, Maverick Media is focused on large single-screen cinemas across the country.

“Goenka has invested in his personal capacity to revitalize and enrich the single-screen experience for cinemagoers and fans across the country,” a statement from his office said, adding that “there is no impact on the company he heads.”

The investment will enable Maverick Media to unlock the potential of under-screen markets across the country, by building single-screen theaters in Tier II and Tier III cities, it added.

Commenting on the development, Goenka said that the potential of single-screen cinemas in various tier II and III cities is immense, and this infrastructure must be revived.

“This move enables a financially viable opportunity for cinema exhibition operators in key growth markets of the country,” he said.