K Sera Sera looks to launch music channel; eyes buyout of Jhankar

MUMBAI: K Sera Sera is putting its expansion plans in place. One among them: the launch of a music channel, for which it is in advanced negotiations with Jhankar TV to acquire a controlling stake.

The company is also working out output deals which will allow it to have a strong movie production pipeline. On the agenda is a presence in international distribution and an entry into the home video segment. "Lining up movie production contracts is a high priority area. Discussions are on with several parties in this area," says a source close to the company.

K Sera Sera is in talks with Eros International Plc for a deal that in value terms could be around Rs 2 billion over a longer period, the source adds. Eros, which globally distributes Bollywood content, recently floated an initial public offering and is listed in the London Stock Exchange (LSE).

"While the deal with Sahara was for just satellite TV rights, the talks with Eros are much broader in scope. Eros has entered into music rights and has a wide international movie distribution network. K Sera Sera has produced many movies. If the deal sails through, it will help the company scale up its movie pipeline," says the source.

K Sera Sera senior executives were not available for comment on both the music channel and the movie deal with Eros.

On the music channel front, K Sera Sera plans to run it through a subsidiary company. By being producers of Bollywood movies, the channel will have a synergistic relationship.

"We are in advanced talks with K Sera Sera for diluting majority stake. Since they have movie software, Jhankar TV stands to gain. But no conclusive agreement has been reached yet," says Hamara Samay TV News Network Pvt Ltd president Zaheer Ahmad. Hamara Samay is the company that owns and operates Jhankar TV.

K Sera Sera is, however, weighing other options including the possibility of launching the music channel on its own. "The company, though, realises the distribution problems of a new channel," says the source.

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