Turmeric Vision Private Limited, which owns the food channel FoodFood, has sold a majority stake to Discovery Communications. FoodFood has a TV channel of the same name, and a YouTube channel with around 2,500 videos on YouTube and over 260,000 subscribers. Its website FoodFood.com hosts recipes, and this weird take on the 2048 game. In February 2015, YouTube multichannel network #fame partnered with FoodFood for its show ‘Hi Tea’ with chef Ajay Chopra. FoodFood was launched in 2011 in India and is a joint venture owned by Malaysia-based Astro Overseas Limited, Chef Sanjeev Kapoor and Mogae Consultants. As of the year ended March 2015, according to documents filed with the Registrar of Companies, Sanjeev Kapoor held 167,875 shares (for 4.15%); Khana TV LLP had 1,172,442 shares (for 28.95%) and Mogae Consultants held 335,960 shares for (8.3%) in the company. Kapoor will continue as FoodFood’s brand ambassador and retain a minority stake (size undisclosed) in the company. FoodFood will be managed under Discovery Asia Pacific, led by Arthur Bastings, president & MD, Discovery Networks Asia-Pacific. It is unclear if Khanna TV LLP and Mogae Consultants have retained their stakes or sold them post this deal. FoodFood Financials Turmeric Vision reported losses of Rs 12 crore on revenues of Rs 19.88 crore for the financial year ended 31st March 2015 (FY15). For FY14, it had reported revenues of Rs 20 crore and a loss of Rs 16.5 crore. In FY15, it reported digital revenues of Rs 28 lakh, up from Rs 6.2 lakh in FY14. Discovery says it will…
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