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Eros stock gains even as it denies being privy to parent's talks with Apple or Netflix

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MUMBAI: Shares of Eros International gained 4.5 per cent on Monday even as it clarified that it was not privy to any strategic discussion that its NYSE-listed parent Eros International PLC may be having with various potential partners.

There were speculative reports that the Mumbai-based film production house Eros was in talks with the tech giant Apple to sell its 3,000-plus film and music library including 'Bajrangi Bhaijaan', 'Dabangg' and 'Bajirao Mastani' for around $1 billion (Rs 63.7 billion).

The unconfirmed potential deal, for which Eros reportedly started exploring six months ago, could include Eros Now -- Eros' digital OTT platform. Discussions were also reportedly being held with competitors -- Netflix and Amazon. Eros Now, having 55 million global users, has rights to over 5,000 movies in 10 Indian languages and over 250,000 audio tracks from 13 Indian music labels.

Eros' parent, which is facing a class-action lawsuit for allegedly overstating Eros Now's subscriber base, had attempted engaged with broadcasters including Sony, Viacom, 21st Century Fox’s Star India and Zee to sell the library, it was reported.

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