Punit Goenka Acquires Majority Stake in Maverick Media to Boost Single-Screen Cinemas

Punit Goenka, MD and CEO of Zee Entertainment, has personally acquired a majority stake in Maverick Media. The investment aims to revitalize single-screen cinemas across India, particularly in tier II and III cities. The initiative seeks to unlock the potential of under-screened markets, offering an economically viable opportunity for cinema operators.

Punit Goenka, the Managing Director and CEO of Zee Entertainment, has taken a decisive step to revamp India's cinematic landscape by acquiring a majority stake in Maverick Media. This investment, made in his personal capacity, remains undisclosed in terms of financial details.

Promoted by Vistaar Entertainment, Maverick Media is committed to revolutionizing single-screen cinemas across the country. In a statement, Goenka's office clarified that this investment is his personal endeavor and has no implications for Zee Entertainment.

Goenka aims to rejuvenate single-screen cinemas, especially in tier II and III cities, emphasizing the massive potential these markets hold. 'This initiative brings an economically viable opportunity for cinema exhibition operators in pivotal growth regions across the nation,' he stated.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)