Oh shit! I hope we don't get Lulla-fied Tamil DVDs now
http://www.hemscott.com/news/latest-new ... 9528209726Eros International acquires 51 pct stake in India's Ayngaran for undisclosed sumMUMBAI (Thomson Financial) - Indian film company Eros International PLC said it has acquired for an undisclosed sum a 51 pct stake in Ayngaran International Ltd, which provides content and distribution of Tamil language films in India.
The transaction will give Eros access to Ayngaran's library of over 600 films, while securing rights to approximately 25 new films already in development, the company said.
Eros, which listed on the London market last summer, added in its statement that it will launch a joint venture with Ayngaran, providing an initial funding of 33 mln usd through internal and external sources to grow the existing business, as well as producing, acquiring and distributing forthcoming Tamil films.
Earlier, Eros and Ayngaran jointly distributed Tamil film 'Sivaji-the Boss', which has had made 25 mln usd at the box office.
Kishore Lulla, chairman and CEO of Eros International, said: 'Ayngaran is the Eros of Tamil films. The business is in the same stage as the Hindi film segment was 10 years ago, poised to expand rapidly.'