wordpress blog stats
Connect with us

Hi, what are you looking for?

Mukesh Ambani To Invest In Epic TV

Former Disney India Head, Mahesh Samat is raising funds from angel investors including Anand Mahindra and Mukesh Ambani for Epic TV which is a niche entertainment channel set up in October 2012, reports Economic Times.

The report states that following this investment, Mahindra and Ambani each hold 25.8% stake in the company while Samat has a stake of 48.5% stake in the company. While the investment amount remained undisclosed, the report cites sources to peg the investment at Rs 100 crore. Reliance spokesperson told the publication that Ambani’s investment is being done in his personal capacity and is being routed through Reliance Ports and Terminal Ltd.

Ravina Kohli, former creative head at Yash Raj Television, is heading development and former BIG CBS business head Aparna Pandey is taking care of the content, the publication had reported earlier.

Prior to starting Epic TV Network, Samat was the Managing Director of Disney India for 4 years before resigning from the company in January 2012. He has also held key positions in Johnson & Johnson including Managing Director, Southern Europe and Vice-President, Asia Pacific.

Content: Epic TV will showcase content related to history, folklore and mythology, as per the report. Samat is working on creating Intellectual Properties (IP) for the channel that can be leveraged across other media like publishing, live events, theatre and syndication. The channel will be available only to direct-to-home (DTH) and digital TV subscribers.

Advertisement. Scroll to continue reading.

It looks like Epic TV is banking largely on the cable digitization happening in the country and so are its investors who already have a presence in the media & entertainment industry.

RIL’s TV18 divestment: Previously, in January 2012, Reliance Industries (RIL) had divested a part of its interest in ETV Channels to TV18 Broadcast Limited. TV18 and Network18 had funded the acquisition through a consolidated Rs 5400 crore rights issue, a part of which is being subscribed to Network18 Promoters backed by RIL backed Independent Media Trust. This divestment was aimed at securing preferential access to Network18′s content from all its media and web properties and TV18′s programming and digital content of all its broadcasting channels for its 4G service.

Mukesh Ambani’s brother owns Anil owns Reliance Big Entertainment which runs several digital businesses including BIGFlix, Zapak, BIGADDA, Jump Games, BIG Digital and Talenthouse. Although a personal investment, Ambani’s investment could be useful to his digital businesses considering that Samat is looking t create IPs to be used across different verticals. It is worth noting that Reliance Digital TV, Anil Ambani’s DTH business, is reportedly planning to sell 80% of its stake to Sun TV’s Direct-to-Home business, Sun Direct.

Mumbai Mantra is Mahindra Group’s media & entertainment vertical that has been looking for opportunities in the domestic and international media and entertainment space. It is not clear if Anand Mahindra’s investment has been routed through this company.

Update: edited to correct factual inaccuracies. Thanks for pointing these out.

Advertisement. Scroll to continue reading.
Written By

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

Views

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

News

By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

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