London-based Zodiak Entertainment has increased its stake in Sol Production to 51 per cent as it steps up its expansion plans in the Indian market. Zodiak, which had in 2008 acquired 35 per cent stake in the Mumbai-based television content production house, has purchased an additional 16 per cent for an undisclosed amount.
“Ever since the initial investment in Sol, the plan has been to increase and consolidate its strong revenue growth and Ebitda. The partnership has met the targets set out in the original agreement. The Indian market is expected to grow massively going forward, and we expect Sol to outperform that market growth,”Entertainment SVP Mergers and Acquisitions/Business Development Patrick Svensk tells Indiantelevision.com.
Sol Production has also appointed Keshav Kaul, who was with Star India as AVP - strategic planning, as its new chief executive officer. Kaul will run Sol’s commercial business, spearheading its plans for expansion into new regions, and genres.
Says Svensk, “We expect Sol to grow organically both in terms of genres of programming and in other regions. We look forward to further reaping the rewards of our partnership over the long term.”
The stake increase, though, will not impact the day to day running of Sol Production. It will retain its independent status and the Sol brand.
So how much will Sol invest? "We have sufficient funds for making further investments," says Svensk.
Will Zodiak look at outsourcing content from India for other markets? “Not at this point but possibly at a later date,” says Svensk.
Launched by former UTV executive producers Kamna Nirula Menezes and Fazila Allana in January 2003, Sol has produced shows like Rakhi Ka Swayamvar, Rahul Dulhaniya Le Jayega, Koffee with Karan, Dancing Queen, Nachbaliye and the long-running teen drama Kya Mast Hai Life.
Says Sol Production managing director Allana, “We are pleased that Zodiak Entertainment is further increasing its stake in Sol. We have received tremendous support from the group and benefited from the resources available to us which have improved our knowledge of the international marketplace. With an even stronger team in place now that Kaul has joined, we are feeling very positive about Sol’s future growth.”
Zodiak, a creator, producer and distributor of multi-genre content for TV, cinema
, internet and mobile, is part of the De Agostini Group. It consists of over 30 production companies including Diverse, Mastiff, Marathon, Jarowskij, Magnolia, RM 5to Elemento and Yellow Bird.
Operating in over 18 countries around the world, Zodiak companies produce programmes such as Fort Boyard, Peking Express, Stars on Stage, Wallander, St Tropez, Totally Spies and Gormiti.
“Ever since the initial investment in Sol, the plan has been to increase and consolidate its strong revenue growth and Ebitda. The partnership has met the targets set out in the original agreement. The Indian market is expected to grow massively going forward, and we expect Sol to outperform that market growth,”Entertainment SVP Mergers and Acquisitions/Business Development Patrick Svensk tells Indiantelevision.com.
Sol Production has also appointed Keshav Kaul, who was with Star India as AVP - strategic planning, as its new chief executive officer. Kaul will run Sol’s commercial business, spearheading its plans for expansion into new regions, and genres.
Says Svensk, “We expect Sol to grow organically both in terms of genres of programming and in other regions. We look forward to further reaping the rewards of our partnership over the long term.”
The stake increase, though, will not impact the day to day running of Sol Production. It will retain its independent status and the Sol brand.
So how much will Sol invest? "We have sufficient funds for making further investments," says Svensk.
Will Zodiak look at outsourcing content from India for other markets? “Not at this point but possibly at a later date,” says Svensk.
Launched by former UTV executive producers Kamna Nirula Menezes and Fazila Allana in January 2003, Sol has produced shows like Rakhi Ka Swayamvar, Rahul Dulhaniya Le Jayega, Koffee with Karan, Dancing Queen, Nachbaliye and the long-running teen drama Kya Mast Hai Life.
Says Sol Production managing director Allana, “We are pleased that Zodiak Entertainment is further increasing its stake in Sol. We have received tremendous support from the group and benefited from the resources available to us which have improved our knowledge of the international marketplace. With an even stronger team in place now that Kaul has joined, we are feeling very positive about Sol’s future growth.”
Zodiak, a creator, producer and distributor of multi-genre content for TV, cinema
, internet and mobile, is part of the De Agostini Group. It consists of over 30 production companies including Diverse, Mastiff, Marathon, Jarowskij, Magnolia, RM 5to Elemento and Yellow Bird.
Operating in over 18 countries around the world, Zodiak companies produce programmes such as Fort Boyard, Peking Express, Stars on Stage, Wallander, St Tropez, Totally Spies and Gormiti.
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