Sony Pictures Entertainment (SPE) is all set to compete directly with Bangla TV giants by acquiring Bangla Entertainment for around Rs. 60 crore.
According to reports, a deal will be finalised in the next few days by SPE, the same company that owns 62 per cent in Multi Screen Media (MSM) India and runs Sony Entertainment Television Asia, SAB TV, Pix and AXN.
If successful, SPE will have control over Bangla Entertainment’s flagship channel called Channel 8 Talkies. However, it will face stiff competition from already established players like STAR Jalsha, STAR Ananda and ZEE Bangla.
Channel 8 Talkies is a Bengali movie channel, run by Kolkata-based entrepreneur Ashoke Surana, Bangla Entertainment. Its shareholders include Highlight Commodeal, Indra Barter, Eshita Surana, Rahul Surana and Surana Brothers.
The owners have been looking to sell the firm for the past few months as they were unable to generate enough ad revenues, said a senior executive with a cable company, who didn’t wish to be identified.
Neither Michael Lynton, chairman and CEO, SPE, nor Kunal Dasgupta, CEO, MSM India, could be contacted at the time of filing this report.