Malaysia-based Astro Overseas Ltd has upped its stake in Turmeric Vision to 60 per cent while agreeing to pump in $5 million to fund FoodFood channel’s growth for a year. As part of its original agreement with its local joint venture partner Sanjeev Kapoor, Astro has acquired a fresh stake of 5 per cent, said a source familiar with the development. The joint venture partners are scheduled to meet next month to firm up new investment plans from Astro for FoodFood’s expansion. This will include the launch of three regional-language TV channels and digital initiatives like e-commerce.
FoodFood is planning to launch in Tamil and Telugu languages. The third channel could be an audio feed in Kannada. Plans are also afoot to develop ground events, licensing and merchandising, as well as selling of products and services through e-commerce, retail and through partners.
Read more at: http://www.televisionpost.com/television/astro-ups-stake-in-foodfood-to-60-ceo-barua-quits/ | TelevisionPost.com
FoodFood is planning to launch in Tamil and Telugu languages. The third channel could be an audio feed in Kannada. Plans are also afoot to develop ground events, licensing and merchandising, as well as selling of products and services through e-commerce, retail and through partners.
Read more at: http://www.televisionpost.com/television/astro-ups-stake-in-foodfood-to-60-ceo-barua-quits/ | TelevisionPost.com
