Zee Entertainment CEO Punit Goenka buys majority stake in Maverick Media

Zee Entertainment Enterprises’ managing director and chief executive officer, Punit Goenka, acquired a majority stake in Maverick Media in his personal capacity for an undisclosed amount.

This investment will enable Maverick Media, a single-screen theatre firm, to unlock the potential of under-screened markets across the country by building theatres in Tier-II and Tier-III cities, a statement by Goenka's office said on Monday.

Maverick Media is promoted by Vistaar Entertainment and focuses on expanding the large-screen cinema experience across India.

“The potential of single-screen cinemas across several Tier-II and Tier-III cities is immense, and it is imperative to revive this infrastructure, keeping its fabric and cultural essence intact,” said Goenka. “I am confident in the ability of the team at Maverick to achieve its vision and grow the single-screen cinema business. I truly hope this step enables an economically viable opportunity for cinema exhibition operators across key growth markets in the country.”