CA Media takes 49% stake in Endemol India
Rebecca Hawkes ©RapidTVNews | 29-04-2012
CA Media, the Asian investment arm of the Chernin Group, is to acquire almost half of TV production house Endemol India, in what is being termed a strategic investment to grow the company into a cross platform, pan-India content producer.
"Content is core to the entertainment business and if we have to get into that business, it would be with a company that has the flexibility to go across screens. Endemol is the largest production house with quite a few non- fiction and fiction shows in its overall mix. They have done a lot on TV and the plan is to also get into films," Rajesh Kamat of CA Media is quoted as saying by Exchange 4 Media.
Deepak Dhar, chief executive, Endemol India, added: "We were very clear we wanted strategic investment and not financial investment and that is what CA brings to the table. We have grown organically over the years, on the strength of ideas. Now, the ambition is to break from the clutter of being television content producers to being content producers, who work across screens. We want to grow out of the Hindi speaking markets and go pan India. Going forward, you will see us focus on regional, digital and movie production."
Following the acquisition, Dhar becomes chief executive officer of Endemol India, from his previous position of managing director.
In addition, alongside digital media investor and operator Zodius, CA Media is to invest in Only Much Louder (OML) - a company focussing on alternative culture and youth-based content and events.
"We are looking at expanding into domestic and international and CA will bring immense expertise and support in achieving this. We needed someone who would also work with us on non live music, as so far we have been focussed on live music driven events," explained Vijay Nair, founder and chief executive, OML Entertainment.
Peter Chernin, formerly a president and chief operating officer at News Corp, founded CA Media in November 2010 with Paul Aiello, formerly a chief executive of the News Corp-owned Star TV group in Asia. CA Media is an Asian investment fund for media, entertainment and technology companies, targetting in particualar India and China.