Triveni Group, a Rs 3,000-crore conglomerate which has interests in real estate and automobiles, is now diversifying into the media space. The Group has acquired over 60 per cent stake in socio-spiritual channel Sadhna TV. The deal is to acquire 100 per cent stake in the channel subject to I&B Ministry’s approval.
However, it could not be ascertained how much Triveni Group paid for acquiring the channel.
Confirming the development, Gaurav Garg, the Group’s Corporate Communications Head, said, “We have been looking at an opportunity to get into the media space. Acquiring Sadhna TV is the first step towards this.”
He informed that in a week’s time the identity of Sadhna TV would incorporate Triveni’s branding and would be renamed Triveni Sadhna.
Garg further said, “We are also planning to launch four new channels this year and are targeting to have a bouquet of 19 channels within two and a half years.”
He divulged that the Group would bring two 24x7 national news channels – one general new and one business news – by mid-April this year. Triveni Group has acquired a studio in Noida for these channels.
By September this year, Triveni Group plans to bring out its other two channels, one of which would be a general entertainment channel, while the other would be dedicated to lifestyle and health.