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.
