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MUMBAI:
Eros International said Wednesday it has exercised its option
on the B4U shares and now owns 24 per cent of the worldwide
Movies and Music network of B4U channels.
B4U's
main shareholders are steel magnate Lakshmi Mittal and Gokul
Binani.
Eros
also plans to expand into the television broadcasting industry
over the next 12 to 18 months through a combination of acquisitions,
joint ventures or alliances. The aim is to tap into what is
forecast to be a $15 billion segment in India by 2012 with
growth propelled by subscription and advertising revenues
and the expansion of DTH.
Eros
is also considering a domestic listing in India to fund its
expansion, particularly within the television broadcasting
market. The company is already listed on the Alternative Investment
Market (AIM) of the London Stock Exchange.
Commenting
on the company's growth plans Eros chairman and CEO Kishore
Lulla says, "Eros will pursue continued growth as well
as maintain its lead in consolidating this lucrative yet fragmented
sector, ensuring the company maintains its market leadership
through a combination of alliances, acquisitions and organic
investment."
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