CA Media, the Asian investment arm of The Chernin Group (TCG), has acquired a 49% stake in Endemol India, as part of a deal which also sees Endemol India MD Deepak Dhar upped to CEO.
The deal is for an undisclosed sum. The two parties said their joint strategy would be to build Endemol India into “the leading and most valuable content production company in India across television, film and digital content.”
Founded in 2006 and based out of Mumbai, Endemol India’s biggest titles include Bigg Boss (its version of Big Brother, which has had five seasons to date) and Fear Factor (four seasons).
In a statement, TGC chairman and CEO Peter Chernin said: “India is a critical investment market for CA Media and we’re pleased to partner with Endemol to work together to further leverage the growth in the Indian media and entertainment space.
“We believe that Endemol India is poised to capitalize on the expected explosive growth across all platforms in this industry.”
Just Spee, CEO of Endemol Group, added: “India represents a significant opportunity for Endemol and our collaboration with CA Media strongly positions us to become the region’s largest content producer. With his far-reaching experience and expertise in the market, Deepak is the ideal candidate to lead this project.”
O’Melveny & Myers served as the legal advisor for CA Media on the transaction. Endemol was advised by Amarchand & Mangaldas, and Suresh A Shroff & Co.