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Sony Pictures To Buy 32% In Multi Screen Media For $271M

Sony Pictures Entertainment Inc will pay $271 million to buy the 32% shares in Multi Screen Media Private Ltd, owned by owned by Grandway Global Holdings Limited and Atlas Equifin Private Limited, the acquisition taking Sony's stake to a little over 94 percent. The acquisition, subject to government approvals, is being done through its wholly owned subsidiary Sony Pictures Television, and is expected to close by the end of December 2012. The 17 year old venture, Multi Screen Media, operates channels like the general entertainment channels Sony Entertainment Television (SET) and SAB, movies and cricket channel SET MAX, Hollywood movie channel PIX, music channel MIX and a sports channel SIX. Payment Schedule - $145 million is expected to be paid by SPT at the closing of the acquisition by the end of December 2012 - $126 million will be paid…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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

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