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Chernin buys into Endemol India

US media firm The Chernin Group (TCG) has bought a minority stake in Endemol India with ambitions to expand its scripted and regional television business.

CA Media, the Asian investment arm of TCG, has bought a 49% stake in Endemol India for an undisclosed amount. Deepak Dhar, MD of Endemol India since 2007, will continue to lead Endemol India in his new role as CEO.

The investment deal comes just days after investors led by Providence Equity Partners, put US$200m into TCG to accelerate its plans for global acquisitions.

Mumbai-based Endemol India is one of the country’s largest producers of entertainment television, with a slate including Bigg Boss (aka Big Brother), Fear Factor, Deal or No Deal and The Money Drop.

The firm will now focus on establishing a presence in the Indian film business and plans to expand its scripted and regional television interests.

It will also continue to produce and exploit Endemol’s portfolio of formats and IP, while new formats created by the company will be distributed by Endemol’s international sales arm.

Peter Chernin, TCG’s chairman, said India represented “a critical investment market for CA Media and we’re pleased to partner with Endemol to work together to further leverage the growth in the Indian media and entertainment space. We believe that Endemol India is poised to capitalise on the expected explosive growth across all platforms in this industry.”

Just Spee, recently appointed CEO of Endemol Group, added: “India represents a significant opportunity for Endemol and our collaboration with CA Media strongly positions us to become the region’s largest content producer. With his far-reaching experience and expertise in the market, Deepak is the ideal candidate to lead this project and we are excited to be working with CA Media and The Chernin Group.”

Its stake in Endemol India represents Hong Kong-based CA Media’s largest investment in Asia to date.

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