Emerald, which itself is backed by global investment firm KKR, said that it has achieved a controlling stake by acquiring new shares and some existing ones. The terms and value of the transaction, and the size of the new capital injection, were not revealed.
Cosmos-Maya was founded by Indian filmmakers Ketan Mehta and Deepa Sahi two decades ago. Based in Mumbai, it now has some 750 employees, producing some 600 minutes of content every month. Its best-known show is children’s series “Motu Patlu.”
Working with Viacom18, Disney Networks, Turner International, Sony Pictures Network, Discovery Networks, Netflix, Amazon Prime Video and ALT Balaji, the company currently has nine shows on air in India. The include: “Shiva,” “Eena Meena Deeka,” “Kisna,” “ViR – The Robot Boy,” “Guru Aur Bhole,” “Chacha Bhatija,” “Tik Tak Tail” and “Selfie with Bajrangi.” The company is also working on 3 international co-productions — “Captain Cactus,” “Atchoo!” and “Help me Ganesha” — in different stages of production and development.
“Through the capital infused, the company intends to develop international projects while leveraging the media relationships of Emerald to expand its global footprint,” said Mehta, co-founder and MD.
“With (Cosmos-Maya) now focused on the development of content, that crosses geographies, it is poised for growth on a global stage — not to mention the added opportunity of brand expansion and merchandising for its properties,” said Emerald’s MD, Rajesh Kamat.
Headed by Kamat and former Star-TV boss Paul Aiello, Emerald Media primarily focuses on providing growth capital to media, entertainment, consumer tech and B2B companies. Its key investments include those in YuppTV, a video platform for South Asian content; Amagi Media Labs, Indian TV advertisement solutions firm; and aCommerce, a leading Southeast Asian leading ecommerce enabler and e-distributor.
Source : Variety.com