Chennai based GV Films is in the news for a stake sale and content acquisition. One deal apparently with Italian studio Mondo TV for acquisition of animation titles, and tie-ups for animation projects. Yesterday, The Economic Times had reported that Warner Brothers was close to acquiring a 10% stake in GV films for about Rs.300 crore. Also that GV Films intends to raise Rs.350 crores through a GDR, FCCB or a preferential allotment. In (yet more) news, the Financial express quotes a source from GV Films:
“We plan to acquire internet rights for over 6,000 Hollywood titles from distribution and production majors like Warner Bros, Twentieth Century Fox and others to telecast through its webcasting division. We have appointed a few merchant bankers to hold talks with Hollywood majors for the same. The acquisition of rights will happen in phases.
GV Films has issued a clarification to the BSE:
With reference to the news item appearing in a leading financial daily, GV Films Ltd has clarified to BSE that, the Company is not in direct discussions with Warner Bros nor any of their associates for acquiring any equity stake in the company.
The Company has been in discussion with some of the overseas entities for acquiring Hollywood Films for its Web-casting Division for which necessary tie-ups have been made with 1-Net of Singapore for Webcasting the films through their servers.
Further the Company is in discussion with some of the Bollywood Directors for producing mega movies in Hindi. With Mondo TV of Italy, the Company has initiated discussions for acquiring some of their titles which are aimed at children’s market in animation segment.
Meanwhile, the GV Films share price is currently up 3.37% on the BSE, to Rs. 9.20. I just checked their site, and it seems that they stream Tamil and Telugu Films (for a price).
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