The Hinduja Group has announced the appointment of Sunir Kheterpal as CEO of IN Entertainment, an entity that will consolidate the Group’s content business. The Group plans to invest Rs 250 crore in its content business over the next 2-3 years and Kheterpal will spearhead its aggressive growth plans in the media and entertainment space.
Kheterpal comes on board from Reliance Big Entertainment, where he had set up the international and domestic distribution business for the Group before moving on to managing key co-production relationships at Big Pictures. Previously, he was associated in the banking and financial services industry with companies like Bank of America, Rabobank and Yes Bank.
On his appointment, Kheterpal commented, “The Indian entertainment industry is poised on the threshold of its next growth cycle after undergoing a consolidation phase over the last 18 months or so. Amidst these on-going dynamic changes in the business environment, I am very excited to be starting my next career move with the Hinduja Group, which has tremendous passion and aspiration to grow this business.”
IN Entertainment will be primarily engaged in content development, financing and production, for both films and TV, through Serendipity Films as well as co-productions with existing production houses. It will also acquire distribution rights of foreign films for India. Once the content pipeline is ready, there are plans to roll out worldwide film distribution capabilities. IN Entertainment will also house assets pertaining to the Cable Video Channel, CVO, Cable Shopping Channel, Shop 24 Seven, and Movie Licensing through Cablemaster.
On February 26, 2010, IN Entertainment will be releasing Serendipity Film’s ‘Teen Patti’ starring Amitabh Bachchan, R Madhavan and Sir Ben Kingsley. IN Entertainment has the India distribution rights for over 75 English films and cable TV rights for more than 500 Hindi films.