HFCL Nine-Broadcasting looking at more acquisitions

(posted on 2 December 9:30 am)

The acquisition of a 20 per cent equity stake in top notch production house Balaji Telefilms is just the first of many partnerships that the Kerry Packer- HFCL joint venture will be doing. In an interview to Business Standard Weekend, HFCL chairman Vinay Maloo revealed that the group was talking to at least five other production companies to take a 20-40 per cent equity stake. "These matters are likely to be finalised in a few weeks from now," he said to the newspaper. "Our strategy is very clear. We want to ensure that we have the best content quality."

Additionally, Maloo said that his group was setting up a cinema division as well and would be producing movies with select directors. Part of that initiative has already started with the Director's Cut series beginning on DD Metro wherein cinema makers are being called in to make movies for television.

Maloo added that he was also looking at launching a channel or putting together a DTH platform - in contrast to what his co-promoter Mahendra Nahata told indiantelevision.com (see earlier story HFCL offers set top box in November) - or broadband streaming over the Internet.

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