Berita Otomotif - Zodiak - 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,” Zodiak 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.
“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,” Zodiak 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.
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