| MUMBAI:
SET India promoter Sudesh Iyer is swinging back into action. He is reverse merging
his TV content company, In House Productions, with Vans Infomedia Ltd as he plans
to launch a set of three channels. Singapore-based
World Media Group will hold 63.75 per cent while the promoters of Vans will have
11.25 per cent. The balance 25 per cent will be with the public.
"We
have even got the court approval for the reverse merger. World
Media Group will have 63.75 per cent in the company,"
says In House Productions VP commercial C Srikant. In House
productions is part of the World Media Group.
After
the reverse merger, Vans will be renamed as In House Productions.
"We have got the approval for the name change. Vans is
delisted on the BSE now. We expect to get relisted by 31 July,"
says Srikant.
The
company plans to first launch a regional general entertainment channel (GEC).
Also in the pipeline are a tele-shopping channel in the UK and a NRI channel catering
to the global Asians. The
channels will operate from a studio facility being built in North Mumbai, in an
area measuring approximately 18,000 sq ft. This studio will be a replica of In
House Productions' existing facility.
In
addition to this, it is also in the process of building a
bank of 250 to 300 feature films in Hindi and various other
regional languages.
Sony
television has also contracted In House Productions to sub-title
their entire library of feature films from Hindi to English
language, says Srikant. Subsequently, the assignment may spill
over to all their television series also.
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