Asianet News Network Pvt Ltd has acquired 51% stake in Kannada Prabha Publications Limited, to expand its footprint across television, internet and print.
Founded in 1967 by Ramnath Goenka, Bangalore-based Kannada Prabha is a Kannada daily newspaper from the New Indian Express Group.
Transaction Reference: Exchange4media.com
Kannada Prabha is spread across Bangalore with other editions in Mangalore, Shimoga, Hubli, Belgaum, Hyderabad and Goa.
Rajeev Chandrasekhar founder of Jupiter Media and Entertainment Ventures had acquired Asianet in 2006 and operated a few Malayalam channels. He then launched Asianet Suvarna, a Kannada general entertainment channel, and Suvarna News 24x7. In 2008, he sold the entertainment channels to Star India while retained the news venture.
Suvarna News is investing in a new Bangalore studio which is scheduled to be commissioned in the next few months.
Recently, Multi Screen Media Pvt Ltd (MSM), which runs Sony Television in India, was planning to acquire Ramoji Rao-owned Eenadu TV's (ETV’s) bouquet of 11 regional channels, for around $500-600 Mn (Rs.2,250-2,400 Cr).
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 20/07/11 |
Express Publication - Kannada Prabha - Asianet News Network |
M&A |
Asianet News Network Private Limited |
- |
| 29/03/10 |
Express Publication (Kannada Prabha) - Jupiter Media |
M&A |
Jupiter Entertainment Ventures Private Limited |
55.60 |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 09/05/12 |
Venture Capital |
Neeraj Goenka |
Talentube Entertainment Private Limited |
12.00 |
Completed |
| 09/05/12 |
M&A |
Jyoti Agarwal |
DB Corp Limited |
32.66 |
Announced |
| 27/04/12 |
Private Equity |
The Chernin Group |
Endemol India Private Limited |
- |
Completed |
| 27/04/12 |
Private Equity |
The Chernin Group |
OML Entertainment Private Limited (Only Much Louder) |
- |
Completed |
Company |
| Name | Promoters | Office | Competitor | Website |
| Express Publications (Madurai) Limited |
Manoj Kumar Sonthalia |
Express Garden, 29 Second Main Road, Ambattur Industrial Estate |
|
www.epmltd.com |
| Kannada Prabha Publications Limited |
Express Publications (Madurai) Limited |
No. 1 Express Building, Queens Road |
|
www.kannadaprabha.com |
| Asianet News Network Private Limited |
Rajeev Chandrasekhar |
Jay Apartments, 'B' Wing, Service Road, Vile Parle (E) |
|
www.asianetnews.tv |
