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Hinduja Group to pump in Rs 250 crore in content business; appoints CEO for IN Entertainment
The Group has brought in Sunil Kheterpal as chief executive officer for IN Entertainment, an entity under which the entire content business of the Group will be consolidated
Hinduja Group is all set to scale up its content business. It has appointed Sunil Kheterpal as chief executive officer, IN Entertainment, the entity under which the Group's entire content business will be consolidated.
Going forward, Hinduja Group plans to make investments to the tune of Rs 250 crore in its content business. The business conglomerate already has diversified interests in film financing, production and distribution in the entertainment media. It also owns InCable, the cable distribution company.
Kheterpal, who will spearhead IN Entertainment, has joined the organisation from Reliance's Big Pictures, the motion picture brand of Reliance Big Entertainment (RBEL). As COO there, he was responsible for managing key co-production relationships for the brand. He has also been part of RBEL's international and domestic distribution business.
Speaking to afaqs!, Kheterpal shares, "Hinduja Group has tremendous experience in the media and entertainment business. The media industry, after 18 months' turmoil, looks set for its next growth cycle. Things are changing fast in the media business and it's great to be part of a dynamic business environment."
In his new role, he will be based out of Mumbai. Prior to the Kheterpal's appointment, the content business at Hinduja Group was handled by Ravi Mansukhani, who heads one of the subsidiary companies of the Group -- Induslnd Media and Communications, also known as InCable.
IN Entertainment will be dedicated to services and businesses including content development; financing and production (both for films and TV) through its own production entity, Serendipity Films, and co-productions with production houses from outside; and acquiring distribution rights of foreign films for India. The company will also have under its umbrella assets pertaining to the Cable Video Channel, CVO (Hindi movie channel), Cable Shopping Channel, Shop 24 Seven, and movie licensing through Cablemaster.
As part of the movie business, in February 2010, IN Entertainment is all set to release its second movie, Teen Patti, starring Amitabh Bachchan, R Madhavan and Sir Ben Kingsley. The movie is by Serendipity Films. It also has to its credit the movie, Being Cyrus, which starred Saif Ali Khan.
At present, IN Entertainment has distribution rights for as many as 75 English movies and cable TV rights for 500 plus Hindi titles, along with negatives rights of about 30 Hindi films.