Press
Eros International announces deal with ANYTIME
30/11/2006
- Eros to invest in ANYTIME, the Video-on-Demand service offering Hollywood content and launch an exclusive on-demand Bollywood channel across 14 countries in Asia
- Eros and ANYTIME to form a Joint Venture majority owned by Eros to distribute Hollywood movies on digital platforms throughout India
Thursday, November 30, 2006 – Eros International plc (“Eros” or “the Company”), the leading Bollywood studio announces an investment deal (up to £2.1million) with Singapore-based, ANYTIME Pte Ltd. (“ANYTIME”), Asia’s leading supplier of Video-on-Demand (VOD) Hollywood entertainment and a company whose shareholders include 4 major Hollywood studios and Intel.
Subject to final due diligence and agreement of full terms, Eros will take a minority stake in ANYTIME and a seat on ANYTIME’s board.
As part of the deal, it is intended that an Eros-branded Bollywood VOD service showcasing Eros’ library of over 1300 titles will be launched in the 14 Asia Pacific countries where the ANYTIME service has a license to operate.
A major part of the deal - following completion of due diligence and agreement of full terms - will involve the companies launching a fully integrated joint venture to license and distribute Hollywood content for VOD in India, with Eros as the majority shareholder. The joint venture will provide fully programmed and customized premium Hollywood content services to local service providers as well as to consumers over the open internet.
ANYTIME is the leading Video-on-Demand Channel over IPTV, Broadband and Digital Cable Networks in Asia and the Pacific. With four of Hollywood's major studios and Intel as its shareholders, ANYTIME has an extensive library of current and library titles available on demand.
Kishore Lulla, Chairman and Chief Executive of Eros commented:
“ANYTIME’s Hollywood digital entertainment services, world-class technical programming and marketing expertise complement Eros’ strategic vision for expanding choice for consumers in India. Working with ANYTIME will help us further expand the reach of our extensive Bollywood film library.”
Craig Zimbulis, President and CEO of ANYTIME commented:
"ANYTIME is excited about the tremendous value this partnership with Eros International brings to our shareholders and consumers by expanding ANYTIME’s Hollywood on demand entertainment to a massive Indian market and taking Eros’ premium Bollywood content on VOD to the Asia Pacific region."
About Eros International plc
Eros International plc, an integrated media and entertainment company, is a global player in the Bollywood arena. Being integrated across the value chain means Eros produces Bollywood films as well as distributes them globally through all available windows - theatres, home entertainment, television and new media channels. Eros has also nurtured a Hollywood home video market for India.
Established in 1977, Eros has three decades of market leadership in the multi billion dollar sector that is experiencing a double digit growth. Eros operates in over 50 countries with worldwide offices in India, UK, USA, Dubai, Australia, Fiji and Isle of Man. It has built a business model combining the release of 20-30 new films every year with the exploitation of a valuable film library containing more than 1,300 titles making it one of the largest content owners in the business.
Some of Eros’s new media alliance partners are Intel Corporation, Comcast Cable, Movielink, Rogers Cable and RTL Holland.
About ANYTIMEHeadquartered in Singapore, ANYTIME is the leading global video on-demand channel delivered to consumers over IPTV, broadband and digital cable networks. With output deals and access to the libraries of four of Hollywood’s leading studios—Fox, Sony, Warner and Universal—and licenses with regional content providers like Celestial Pictures, ICON Film Distribution and Becker Entertainment, ANYTIME has an unsurpassed programming line-up. When added to proven technology, ANYTIME delivers compelling content with the control and convenience that consumers demand.
ANYTIME has existing carriage deals in Australia, Hong Kong, Taiwan and Thailand, and the rights to license into 14 territories in Asia Pacific ANYTIME’s shareholder’s include CPE Holdings Inc. (Sony), Fox Media Services Inc., Intel Capital, Warner Bros. Entertainment Inc., YTC Group (a Singapore based multinational conglomerate), the Macquarie Bank Group and Coote/Hayes Productions LLC (a U.S.-based TV and film production company).
For further enquiries about ANYTIME and Eros International, please contact:
ANYTIME
LEWIS Public Relations
Shawn Balakrishnan
shawnb@lewispr.com
+65 5634 7250
Eros International
BRUNSWICK GROUP Public Relations
Zoe Bird and Conor McClafferty
+44 (0)20 7404 5959