Punit Goenka is acquiring a majority stake in Maverick Media. The investment will enable Maverick Media to unlock the potential of under-screened markets across the country, by building single-screen theatres in tier-II and -III cities.
Commenting on his decision, Goenka said, “The potential of single-screen cinemas across several tier-II and -III cities is immense, and it is imperative to revive this infrastructure, keeping its fabric and cultural essence intact. 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.”
Goenka has made this investment in his personal capacity and the same has no bearing on Zee Entertainment.
Maverick Media is promoted by Vistaar Entertainment, an entertainment company with significant presence across cinema exhibition, film, television and other key entertainment content segments. Maverick Media is focused on building and enhancing the large-screen cinema viewing experience across the country.