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MUMBAI:
Denmark-based Zodiak Television has agreed to acquire 35 per
cent stake in Indian production house Sol.
The
two parties have entered into a memorandum of understanding
(MoU) and the deal is subject to due diligence and final agreements.
Under
the agreement, Zodiak Television World, the distribution arm
of Zodiak Television Group, will licence and distribute Sol's
programming internationally, excluding India.
According
to an official release, the two companies will now cooperate
on actively developing Sol as a company with the aim of Zodiak
increasing its stake in a later stage.
Sol,
which was launched by former UTV executive producers Kamna
Nirula Menezes and Fazila Allana in January 2003, specialises
in non-fiction entertainment television and event management.
It produces the event The Star Parivaar Awards, as
well as shows such as Koffee with Karan and Nach
Baliye (seasons 1-2).
Says
Zodiak Television president and CEO Patrick Svensk, "The
Indian content market is one of the most vibrant in the world.
A country where half of the 220 million households have TV
sets and 70 million are multi-channel is an exciting prospect
for us.
With
around 70 new channels set to launch this winter alone the
scope for content production is mind-blowing! Sol and its
founders have a perfect platform, network and reputation and
we're extremely pleased to be working with them as we enter
this fascinating arena."
Adds
Sol founder and MD Fazila Allana, "We've been watching
with interest the amazing expansion of Zodiak throughout Europe
for a while now. The time is right for us to link up with
a big, international player to extend our brand outside of
India and to grow our programming portfolio within it."
Zodiak
Television AB carries on the development, production and sales
of TV programmes under the brand names of MTV Mastiff, Mastiff
Media, Jarowskij, T & T Broadcaster, Look Entertainment,
Diverse Productions, Social Club Production 5th Element, Bird,
TeleAlliance, Dixi Media, YS Films, Bullseye and Kanakna in
Sweden, Denmark, Norway, Finland, England, USA, Poland, Russia,
Ukraine, Belgium and the Netherlands.
Zodiak Television World, the subsidiary company, sells the
programmes and rights of the group and other production companies
in the international market with customers in more than 70
countries.
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