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In House to acquire 60 per cent stake in New Age Entertainment

09-April-2002
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In House to acquire 60 per cent stake in New Age Entertainment

In House Productions Pvt Ltd, which specialises in mega game shows in Hindi, is acquiring a 60 per cent stake in air-time marketing company New Age Entertainment, to make an entry into the southern region. The company is also acquiring a 49 per cent stake in Manipal Entertainment Network Ltd, in a bid to start supply of television software to Kannada channels.

According to industry sources, ETC Networks was close to acquiring a stake in New Age Entertainment and had made advances of Rs one crore. But the deal fell through, primarily after the venture to market the game show, Koteeswaran, incurred losses.

In House Productions, through the acquisition, will have access to the Sun TV network, where New Age Entertainment has a contract to market air-time across the language channels. New Age Entertainment markets 22 hours of air time for KTV, the Tamil movie-driven channel from Sun network. The company also provides four hours of programming per week to Sun TV, for which it sources content from Saregama and does the marketing itself.

With In House Productions getting into production of Telugu software, New Age will do the marketing of air-time for such content. The company is also in talks with TMG to market air-time for the Bangalore-based technology channel.

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