College Retirement Equities Fund has invested around 10.5 Cr in Eros International Media Limited. The fund acquired 6,00,013 shares for R174.98 per share, through bulk deal on NSE.

Indus Capital Advisor (3.99%) and IDFC Sterling Equity Fund(2.94%) are the other non-promoter shareholders in the company.

Eros, the flagship company of the Eros group, was incorporated by Arjan Lulla and his son Kishore Lulla in 1994. The promoters have been distributing Indian movies internationally since 1977. In 2005, the promoters expanded the business, by foraying into domestic distribution of Indian films through Eros. The Eros group is producer and distributor of many Indian films, which are largely co-produced or acquired from other producers. 

In 2011-12 the Eros group released 77 films, of which 27 were in Hindi and 50 in regional languages including Tamil, Telugu, and Punjabi.

Some of its key recent films include Zindagi Na Milegi Dobara, Ra.One, Housefull 2, Cocktail, English Vinglish, and Son of Sardar. It has released at least three of the top 10 grossing films each year for the past three years.

The Eros group has the largest library of over 1100 films, which are leased out to various channels and other media, providing continuous monetisation of films after their release. Revenues from library monetisation contributed to about 10-15 % of sales in 2011-12. Recently, the Eros group leveraged on its monetisation ability by concluding a deal with HBO for providing content for two proposed channels.
 
Eros International On BSE

College Retirement Equities Fund - CREF Stock Account is a variable annuity open-ended equity mutual fund launched and managed by TIAA-CREF Investment Management, LLC.

Last July, Teachers Insurance and Annuity Association - College Retirement Equities Fund Investment LLC acquired additional 1% stake in Den Networks

Recently in this space, Hinduja Group acquired  Belgian TV production company, Alfacam; Digital cinema chain, UFO Moviez hiked its stake in Scrabble Entertainment by adding another 24% to its earlier 52% held and taking it to 76%.
 
PVR bought Cinemax India for around R400.

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