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Tag: CA Media

  • CA Media exits, sells OML gaming biz to Nodwin for Rs 73 cr

    CA Media exits, sells OML gaming biz to Nodwin for Rs 73 cr

    New Delhi: South Asia-based esports company Nodwin Gaming which is also an independent subsidiary of Nazara Technologies Ltd has acquired the gaming and adjacent IP business of OML Entertainment for Rs 73 crores. The mega-deal will provide partial liquidity to OML Entertainment shareholders, including CA Media.

    OML Entertainment MD Ajay Nair will join the Nodwin Gaming board as part of this transaction and will work with Nodwin Gaming MD Akshat Rathee and its management team to ensure smooth integration of the OML IPs with Nodwin Gaming and help with growing Nodwin Gaming’s business, the company announced on Friday. 

    The acquisition taps into a growing synergy between the two companies. While Nodwin Gaming is known for its esports and gaming expertise, OML Entertainment is known for managing some of India’s biggest gaming and entertainment creators such as Tanmay Bhat, Samay Raina and for owning and executing storied IPs such as the ‘Bacardi NH7 Weekender’ well-attended comedy touring properties such as ‘LOLstars’ and ‘Headliners’ and India’s biggest hip-hop league – ‘Breezer Vivid Shuffle’. OML Entertainment also works with some big brands in India to produce well-known properties such as the ‘Levi’s Music Week’ and ‘YouTube FanFest’. 

    The deal also allows Nodwin Gaming to massify gaming and esports by tapping into emerging synergies in gaming entertainment that a 14-30-year-old is looking for. 

    “Nodwin Gaming strongly believes that continuous growth in the IP portfolio is central to building a vibrant ecosystem of fans, talent, broadcasters and brands,” said Akshat Rathee. “The addition of some of the largest IPs in India like ‘NH7 weekender’ is going to accelerate the massification of esports and gaming entertainment across the spectrum of fans and brands.  The proven capability of the brilliant team that joins us from OML Entertainment will further ensure that we can execute and monetise our IPs.” 

    OML’s Ajay Nair said the company believes in the convergence of different pop culture genres and has seen that this has already happened across several platforms and IPs. “Over the past years, our experience working with Nodwin Gaming has been very fruitful and we are confident that our live IPs and the teams that execute them have found a good home at Nodwin Gaming. OML Entertainment will continue to focus on building its OTT content production, talent management, and branded content businesses,” he said.

  • KKR partners with CA Media; to invest $300 m in Asian M&E sector

    KKR partners with CA Media; to invest $300 m in Asian M&E sector

    MUMBAI:  Media and entertainment entrepreneurs in Asia can look forward to another potential investor in their initiatives, courtesy Emerald Media. Emerald is a new media investment vehicle which has been set up by global investment film KKR and the Chernin Group – promoted by former News Corp top boss Peter Chernin.  KKR has committed up to $300 million to the Emerald Media platform from its KKR Asian Fund II and The Chernin Group will join as a minority co-investor.

    KKR has also acquired a significant, minority stake in CA Media, the existing Asian media portfolio of The Chernin Group.

    Industry veterans Rajesh Kamat and Paul Aiello, who have so far been managing CA Media, will jointly head Emerald Media and will be joined by an experienced team of operating executives. Emerald Media will have offices in Mumbai, Hong Kong, and Singapore. CA Media, which has assets in India (Endemol Shine India, Graphic India, Fluence, and Only Much Louder) and in Indonesia in its portfolio, will continue to be headed by Kamat and Aiello.

     

    The duo together has more than 30 years of experience in the media and entertainment industries in Asia. They bring a unique blend of operational and investment acumen to their business approach. Mr. Aiello is the current Group CEO of CA Media, the former CEO of News Corp.’s Star TV Asia, and former Head of TMT investment banking at Morgan Stanley Asia. . Kamat is currently the Group COO of CA Media and was formerly COO of Viacom18 Group and CEO of Colors.

    Emerald Media will focus primarily on providing growth capital ranging from US$15 million-US$75 million for both control and significant minority positions to media, entertainment, and digital media businesses in Asia.

     

    Joseph Y. Bae, Member of KKR & Managing Partner of KKR Asia, said, “The growing middle class in the region is using its discretionary income on Internet connectivity, but the industry itself is fragmented. Investing behind proven leaders in industries with high growth potential and partnering with them to grow their business is a cornerstone of KKR’s Asia strategy. We look forward to working with experienced media leaders Rajesh and Paul in this dynamic sector.”

    Sanjay Nayar, Member of KKR & CEO of KKR India, added, “The media, entertainment and digital media segment across Asia especially in India enjoys attractive macro fundamentals, mirroring the trajectory of the region’s consumer sector. This is a fragmented industry, and we are excited to work with industry veterans to identify the next generation of media and entertainment companies we can partner with and support.”

     

    Peter Chernin, Chairman and CEO of The Chernin Group, noted: “This partnership provides TCG and its fellow investors in CA Media with a unique opportunity to continue to work with a best in class management team and leading global investors at KKR in Asia.”

    “The media and entertainment sector is on the cusp of a strong growth phase—driven by media convergence, an attractive investment environment, and rising discretionary spends. With the building blocks for growth in place, there is a significant opportunity to create a diversified portfolio of assets in this space, building on our accomplishments and ongoing work with CA Media and The Chernin Group,” said Rajesh Kamat.

     

    Paul Aiello further added, “With the Asia media industry experiencing rapid and transformational changes driven by digitization and growing internet and mobile penetration, Emerald Media will invest across mediums, demographics, and revenue models to continue driving such transformation.”

     

  • Chernin bids $500 million to buy Hulu, reports

    Chernin bids $500 million to buy Hulu, reports

    MUMBAI: Former News Corp President Peter Chernin is said to have made a bid for online video streaming service Hulu at a bid amount of $500 million.

    A couple of years earlier, Chernin had bid for the company he had helped to create but it had been rejected. Hulu is co-owned by News Corp, Comcast and Disney.

    Reports indicate that there is lack of clarity in terms of where Hulu – which is losing money – is going.

    Chernin in his venture CA Media got funding from Providence Equity Partners which was Hulu‘s initial investor but sold its stake last year. If Chernin ended up buying the site, Providence would essentially end up as a Hulu backer again.

    If Chernin does buy Hulu it is possible that it would also look at India. CA Media is headed here by Rajesh Kamat.

  • Graphic India appoints Salil Bhargava as COO

    Graphic India appoints Salil Bhargava as COO

    MUMBAI: Graphic India, a character entertainment company, has appointed former Jump Games CEO Salil Bhargava as Chief Operating Officer (COO). The company is focused on creating leading characters, comics and stories for the Indian youth market through mobile and digital platforms.

    Bhargava, an veteran in the industry and brings more than twelve years of experience in media, entertainment and digital companies in India and overseas, will report to Sharad Devarajan, Co-Founder and CEO of Graphic India.

    CA Media, the Asian investment arm of The Chernin Group, had acquired an undisclosed large minority stake in Graphic India in January this year.

    Commenting on the new appointment, Graphic India Co-Founder & CEO Sharad Devarajan said, “Salil has been a leading force in pioneering India‘s mobile entertainment industry over the last decade and I am delighted to bring his experience to Graphic as we build a digital media company that transforms the Indian character entertainment industry with new heroes and stories to inspire the world.”

    Commenting on his appointment, Bhargava said, “I am thrilled to be joining Graphic India which is setting new boundaries in creativity for character entertainment in India. Sharad and his team bring an unparalleled level of experience in this space and there cannot be a more exciting company to work with as we pioneer digital initiatives to make Graphic‘s unique and ground breaking content available across every digital device in the country.”

    Salil has a Bachelors Degree in Commerce from Symbiosis College of Arts & Commerce, Pune. He has studied at Michigan State University in USA and holds an MBA degree from Eli Broad Graduate School of Management.

    Graphic India‘s stories include, Ramayan 3392A.D. and The Sadhu, both currently in development as Hollywood feature films; 18 Days, a reimagining of the great eastern epic, the Mahabharata, by acclaimed graphic novel creator, Grant Morrison; Chakra The Invincible, the first superhero for India from legendary creator Stan Lee; and numerous other heroes and stories.