Gradiente Infotainment
Corporate
Gradiente Infotainment to acquire Hindi general entertainment channel
BSE listed, Media and entertainment company Gradiente Infotainment Ltd is in the process of acquiring a Hindi general entertainment channel as part of its expansion programme.
The company is expected to rename and revive the channel so that it goes live by January 2013.
“We will be investing Rs 50 crore for the acquisition. We are in the final stages of negotiations with the Delhi-based channel. The price includes studio and other infrastructure of the channel,’’ V.R. Mathur, Chairman and Managing Director, said on the sidelines of the company’s AGM today.
The company is also looking at forming a joint venture with overseas digital media entertainment houses for digital advertisement services.
“We are in talks with a few companies based in Hong Kong and Singapore and we hope to finalise a deal in the next three months,’’ he said.
“We are in talks with a few companies based in Hong Kong and Singapore and we hope to finalise a deal in the next three months,’’ he said.
The company is allocating about Rs 20 crore for this joint venture deal. The joint venture will be engaged in digital content development, web marketing and online brand management.
Mathur said the company, which forayed into the Telugu film industry, has another three movies lined up for co-production, two of which would be handled by leading Bollywood directors.
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