CA Media, the Asian investment arm of The Chernin Group (TCG), and Endemol India, have announced the formation of a strategic alliance in which CA Media has acquired a 49% stake in Endemol India.
With this acquisition, the two organisations intend is to build Endemol India into the leading and most valuable content production company in India across television, film and digital content.
Deepak Dhar, who was the managing director of Endemol India has been promoted to the post of a chief executive officer. He will continue to lead the production house.
According to a statement released to media, key strategic priorities for Endemol India would include establishing a strong presence in the Indian film sector as well as expansion in scripted and regional television, areas in which Endemol India is already active.
Peter Chernin, chairman and chief executive officer, The Chernin Group, commented, “India is 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 capitalize on the expected explosive growth across all platforms in this industry.”
“Our new partnership with Endemol fits in well with our plans of creating a diversified portfolio of assets in the media and entertainment space, with Endemol India being at the epicentre,” commented Rajesh Kamat, chief executive officer, CA Media India.
Just Spee, chief executive officer, Endemol Group, commented, “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.”
Paul Aiello, chief executive officer, CA Media, added, “This is our largest investment in Asia to date and reflects not just our ambitions for this market but also our trust in Endemol India’s capabilities, to jointly build the leading production company in the Indian entertainment space.”
“Our new partnership with Endemol fits in well with our plans of creating a diversified portfolio of assets in the media and entertainment space, with Endemol India being at the epicentre,” commented Rajesh Kamat, chief executive officer, CA Media India. He added, “If there’s one company that is poised to really leverage the growth-explosion ahead in the Indian content space then it is Endemol. Our alliance will ensure that Endemol will achieve growth across screens, demographics and genres.”
Deepak Dhar, chief executive officer, Endemol India, added, “We couldn’t ask for a stronger partner than CA Media for this venture. Our alliance with them will provide us with the expertise, relationships and resources for us to become a major player in Indian film and regional television, whilst further building our leading position in the entertainment space. We’re all extremely excited about this development and look forward to sharing further details of our plans in due course.”
CA Media has also announced equity stake acquisition in Only Much Louder (OML), a music, live events and youth media company in India. This acquisition has been made alongside Zodius, an investor and operator of digital media, commerce and services companies.
On this particular announcement Aiello said, “Our investment in OML represents one end of the spectrum of our investment plans in India – that of identifying and backing talented people in virgin domains, with sustainable as well as scalable business models. OML is in an exciting domain and we foresee great potential ahead.”
Kamat commented, “OML operates in a category that's nascent right now, but holds immense potential in time to come. With over 65% of Indian population under 35 years of age, we’re extremely bullish about the value that OML can unlock in this segment.” He added, “Our expertise in traditional media coupled with the Zodius team’s skills and experience in the digital space will drive OML’s future growth.”
Vijay Nair, founder, chief executive officer, OML Entertainment, commented, “Over the last decade, we have grown from being an artist management company to building several successful franchises across content platforms centred around live music and alternative culture. This investment marks a new phase in the evolution of OML where we will be focussing not only on live on-ground properties, but actively looking at amplifying them through television and digital media. CA Media and Zodius are the right partners to guide us and work with us on strategically scaling up OML and build it to its true potential. ”
Neeraj Bhargava, Zodius, added, “Vijay and his team at OML not only create exceptional media platforms for their clients but they also execute flawlessly. We are delighted to partner with the OML team and CA Media to build the market leading company targeting youth entertainment.”