Sony Entertainment Television is set to undergo a name change and would be renamed Multi Screen Media. SET officials have explained that the reason for the name change is to represent the various mediums that SET India would be present in, which includes mobile, Internet and OOH, in days to come.
SET India had recently unveiled its new network packaging and channel logos. The names of the channels in the Network wouldn’t be changed with this renaming exercise. SET officials believe that this change signifies the natural progress for SET India, and the move of the organisation into various mediums.
The move comes in the wake of a decision taken at a board meeting that has cleared the name change.
As per its filing with the Registrar of Companies, Multi Screen Media has an authorised capital of Rs 100 million and a paid up capital of Rs 66,779,240. Sony Pictures Entertainment, USA, holds 61 per cent equity stake in SET India, while Indian partners and NRIs hold 31 per cent, and Capital International, Japan, holds 8 per cent.