wordpress blog stats
Connect with us

Hi, what are you looking for?

, , , , , ,

BK Modi To Invest $1 Billion In Media & Ent Via Spice Enfotainment; Gaming Co Buy

Many a headline making statement from BK Modi in this interview with Mint, which gives you the big picture of the billionaires investment plans. Modi, who had sold his stake in Spice Communications to Idea Cellular reportedly for over $450 Million, now plans to invest $1 billion in the media and entertainment business through Spice Enfotainment. And, he is singing a digital tune. Some key points:

— Gaming Acquisition: Modi is looking to acquire “a big gaming company” from the Israel to Indonesia region. Any guesses?
— The MSM deal has not been completed.
Despite several reports to the contrary in May, it appears that BK Modi has not closed the 32% stake buyout in MultiScreen Media. He says they’re in talks with Sony on the films side, and may come in as a financial investor in SET. So the deal is still in the balance.
M Films: Modi’s launching a film production company called M Films, which will invest $200 million to produce 5 films in the next 3 years
Cellebrum back on track? Apparently. Modi says that Cellebrum has filed its IPO prosectus again, after SEBI had pointed out issues with it earlier. It was a topic much debated at MediaNama.

Key themes from the interview:

This Is The Time To Buy: companies in the media and entertainment space, which requires significant investment in content production and distribution, are either hard up for investment, close to bankruptcy, or looking to sell out. The funds that were backing them earlier have dried up. So if someone like Modi has the money, this is the time to pick up stake at lower valuations. A case in point is Lehman Bros backed California based Culver Studios in California, which Modi can now buy from the liquidator. He says that ” at least six companies that are talking to us.” What’s interesting is that he’s not looking at majority control, but to be the single largest shareholder, and have board control.

Cross Media and Digital: Modi is looking to set up or acquire companies that will create digital content which can be repurposed across platforms for monetization. So he is eying the film and TV production business, and looking to buy gaming and music companies. Then there is the distribution element, where Cellebrum fits in on the mobile, and on TV – the TV channels he will have a stake in. What’s missing is the mobile operator play, which he exited. Appears to be on the lines of Anil Ambani’s plans for media and entertainment domination.

I wonder what Modi’s plans are for the Internet space. Do read the entire interview, which touches upon many other Media and Entertainment topics.

Related:
“Is the Cellebrum IPO still on?” Apparently Not
Virgin Comics Reincarnated As Liquid Comics; Thoughts On Cross-Media Content
Reliance ADA Group Inks BIG $1.2 Billion Dreamworks Deal
Sony Entertainment Television Sells 32 Pc Stake To BK Modi For $320 Million

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

By Rahul Rai and Shruti Aji Murali A little less than a year since their release, the Consumer Protection (E-commerce) Rules, 2020 is being amended....

News

By Anand Venkatanarayanan                         There has been enough commentary about the Indian IT...

News

By Rahul Rai and Shruti Aji Murali The Indian antitrust regulator, the Competition Commission of India (CCI) has a little more than a decade...

News

By Stella Joseph, Prakhil Mishra, and Surabhi Prabhudesai The recent difference of opinions between the Government and Twitter brings to fore the increasing scrutiny...

News

This article is being posted here courtesy of The Wire, where it was originally published on June 17.  By Saksham Singh The St Petersburg paradox,...

You May Also Like

News

Airtel and Reliance Jio now account for as much as 65% of India’s total Mobile connections. BSNL has just 10%. While Reliance Jio and...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ