Sahara One Media and Entertainment is in the final lap of negotiations to acquire a 51 per cent stake in Media Worldwide, the company which runs three channels including Music India, Sangeet Bangla and Sangeet Bhojpuri. The enterprise value of Media Worldwide is pegged at around Rs 450 million, according to industry sources.
Indiantelevision.com had earlier reported that Sahara was in talks to acquire Music India.
The acquisition of the three channels would expand Sahara's bouquet which includes Hindi general entertainment channel (GEC) Sahara One, movie channel Filmy and world TV channel Firangi. The group also runs a clutch of Hindi and city and region-centric news channels.
When contacted, Sahara One Media and Entertainment CEO Seemanto Roy declined to comment.
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Music India is a low-cost music channel and operates on wafer-thin profits in a cluttered market. Sangeet Bhojpuri is a newly-launched music channel and is the only one operating in that space.
Roy had earlier told Indiantelevision.com in an interview that Sahara would be launching a music channel and would be expanding in the regional language markets with the launch of a Bhojpuri, Bengali, Gujarati and Marathi channel.
Source: Indian Television