Sahara calls off deal to acquire stake in Adlabs

MUMBAI: Sahara Media and Entertainment has called off the deal to acquire a substantial minority stake in Adlabs Films' wholly owned subsidiary Entertainment One.

"We have not gone ahead with the deal. We called it off last week," says a senior official in Sahara.

Adlabs chairman and managing director Manmohan Shetty also confirmed that the deal was off. "We had offered a 25 per cent stake in Entertainment One for a specific amount. We were supposed to sign but there has been no response from Sahara," he says. He declined to disclose the valuation of the deal.

Entertainment One has produced movies like Gangaajal. Sahara had evinced interest in the company as it wanted to tie up with various movie production houses.

The initial offer from Adlabs was for a 25 per cent stake in Entertainment One, says a senior official in Sahara. This was later revised to 33 per cent. "But we felt it did not make business sense for us and decided to call it off last week," he adds.

The deal had run into rough weather after Entertainment One had part-funded 1857: The Rising, a mega movie project. Subrato Roy's media conglomerate had disassociated itself from the project after noted actress and "Sahara council director" Aishwarya Rai was dropped from the film. Adlabs then agreed for a fresh valuation, as the proposed deal would exclude The Rising.

Entertainment One has two movies on the floors and has lined up three more. The average budget of each movie is Rs 7-8 crore (70-80 million)," says Shetty. The company plans to be involved in five movies a year.

Latest Reads
Experience space with BBC's new VR experience

The BBC is giving you a chance fly. Home - A VR Spacewalk is an interactive virtual reality (VR) experience launched today for the HTC Vive and the Oculus Rift, and is available to download for free via the Steam Store and the Oculus Store.

Television TV Channels Factual & Documentary
Sony BBC Earth presents the Best of 2017

Sony BBC Earth revisits some of its most popular episodes of the best shows in a special programming line-up titled Best of 2017 starting 18 December 2017, every night at 7 pm and 11 pm.

Television TV Channels Factual & Documentary
Increased revenue from traditional media boosts Shemaroo numbers

Integrated media content house Shemaroo Entertainment Limited (Shemaroo) reported 18.3 percent higher year-on-year (y-o-y) consolidated total revenue for the quarter ended 30 September 2017 (Q2 FY 2017-18, the quarter under review) stood at Rs 1,345.7 million as compared with Rs 1,138.6 million in...

Television Production House Film Production
21st CF spins-off into new live news & sports co Fox

MUMBAI: After the blockbuster acquisition of 21st Century Fox by The Walt Disney Company, the former has announced that it will spinoff into a new brand Fox’ that will seek to replicate its own success in the newly focussed verticals of live news and sports brands. Using fiscal 2017 as a base, the...

Television TV Channels News Broadcasting
With Star India, Disney emerges as India's largest M&E firm

MUMBAI: Unlike the US, where the merger of The Walt Disney Co and 21st Century Fox’s entertainment assets is between two near equals, the scenario in India is totally different. 21st Century Fox’s India venture Star India is a $1.7 billion dollar media and entertainment behemoth while Disney India...

Television TV Channels People
Disney to buy 21st Century Fox assets for $52.4 billion

The Walt Disney Co has set up a $52.4 billion, all-stock deal to acquire 20th Century Fox and other entertainment and sports assets from Rupert Murdoch’s empire.

Television TV Channels Movie Channels
MOVIES NOW brings #StopDreamingAndStartWinning with 100 Mania Season 5 for its viewers

Movies Now, India’s english movie channel, rings in the festive season with its property ‘100 Mania’, beginning Friday, 15 December at 9pm. In its 5th season, the channel has curated a line-up of some of the biggest Hollywood blockbusters like Furious 7, Jurassic World, Disney’s The Jungle Book,...

Television TV Channels English Entertainment
SPN India to telecast Real Madrid vs Barcelona at 4:30 pm

Less than two weeks to Christmas and Sony Pictures Sports Network (SPSN) launches its “Christmas Comes Early” campaign as a build-up to the biggest football clash of the year, El Clasico.

Television TV Channels Sports
PEN to launch Hindi music channel Dream TV

MUMBAI: Despite the glut of pure-play Hindi music channels on television today, Popular Entertainment Network (PEN) is adding one more to the fray. The new channel, called Dream TV, will provide 24-hour programming.

Television TV Channels Music and Youth

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories