Future Ventures has upped its stake in ACK Media, the company that owns the mythological content business Amar Chitra Katha, along with other children focussed ventures, from 26% to 56%, making it a subsidiary company, reports VC Circle. In a filing with the Bombay Stock Exchange, Future Ventures informed that it has acquired 1,41,459 additional equity shares from the existing promoters of Amar Chitra Katha Private Limited, representing 30% of its share capital. Previously, ACK Media had raised Rs 37 crore from Future Ventures, in a funding round in April, with participation from Elephant Capital, an existing investor, which had also made a follow on investment of Rs 6.5 crore. Elephant Capital's stake in the company stands at 26.1%. Last week, ACK Media and Future Group had announced 'Amar Chitra Katha Scholarships’, in memory of late Anant Pai, the founding editor of the series. The Scholarship was launched in 70+cities, open to children between the ages of 10-15, for which forms have been made available at Future Group's Big Bazaar store outlets and online. Future Plans After the last investment round, it was indicated that the company intended to enter the theme park business, and there were reports that it was considering the launch of a Disneyland like theme park in Chennai, investing Rs.35-40 crore. There has been no official confirmation on that. There had been reports about the group's plans to launch a tv channel, as well. However, according to Elephant Capital's interim annual report, one of ACK Media's focus…
