Sony to increase stake in Multi Screen Media
June 14, 2012
Sony Pictures Television (SPT) has signed an agreement to acquire approximately 32 per cent of the shares of Multi Screen Media (MSM), which are owned by Grandway Global and Atlas Equifin The agreement, subject to government approval, will bring SPT’s interest in MSM to a little over 94 per cent. The closing for this transaction is expected to take place by the end of December 2012.
MSM operates television networks in India and its channels include Sony Entertainment Television (SET), one of India’s leading Hindi general entertainment television channels; MAX, India’s premium movies and special events channel; SAB, a Hindi channel focusing on entertaining modern India; PIX, a channel that airs Hollywood movie product; MIX, a dedicated music channel; and the recently launched sports channel, SIX.
“SPT has enjoyed great success with our channels in India and this acquisition further demonstrates our commitment to entertaining Indian audiences,” said Andy Kaplan, president, worldwide networks, SPT.