Packer packs fund for India biz

Exec to buy movie and sports channels

SYDNEY — Kerry Packer has launched a $250 million venture capital fund to invest in Indian information technology and e-commerce companies with local entrepreneur Ketan Parekh and Hindustan Futuristic Communications in which Packer recently acquired a $328 million 10% stake.

Packer is also reportedly negotiating to bow Indian movie and sports channels with Subrata Roy’s Sahara Group, with whom the titan has just launched a general entertainment channel in a $40 million joint venture.

Packer’s Indian foray follows plans unveiled earlier this month by Rupert Murdoch’s News Corp. to invest hundreds of millions of dollars in TV services and technology firms.

Last month, Packer clinched a contract with state broadcaster Doordarshan to produce TV coverage of international cricket played in India until 2002.

More Biz

  • Ross Levinson LA Times

    L.A. Times Publisher Ross Levinsohn Under Investigation Following Report Of Sexual Harassment Settlements

    SYDNEY — Kerry Packer has launched a $250 million venture capital fund to invest in Indian information technology and e-commerce companies with local entrepreneur Ketan Parekh and Hindustan Futuristic Communications in which Packer recently acquired a $328 million 10% stake. Packer is also reportedly negotiating to bow Indian movie and sports channels with Subrata Roy’s […]

  • Wilson Cruz Trace Lysette

    Variety to Live-Stream GLAAD Media Awards Nominations

    SYDNEY — Kerry Packer has launched a $250 million venture capital fund to invest in Indian information technology and e-commerce companies with local entrepreneur Ketan Parekh and Hindustan Futuristic Communications in which Packer recently acquired a $328 million 10% stake. Packer is also reportedly negotiating to bow Indian movie and sports channels with Subrata Roy’s […]

  • Scooter Braun Speaks out on Sexual

    Scooter Braun, Manager of Justin Bieber, Kanye West, Ariana Grande, to Deliver Keynote at Midem Conference

    SYDNEY — Kerry Packer has launched a $250 million venture capital fund to invest in Indian information technology and e-commerce companies with local entrepreneur Ketan Parekh and Hindustan Futuristic Communications in which Packer recently acquired a $328 million 10% stake. Packer is also reportedly negotiating to bow Indian movie and sports channels with Subrata Roy’s […]

  • PyeongChang Winter Olympics

    To Win Olympics, NBCU Must Lure Big Crowds -- and Small Streamers

    SYDNEY — Kerry Packer has launched a $250 million venture capital fund to invest in Indian information technology and e-commerce companies with local entrepreneur Ketan Parekh and Hindustan Futuristic Communications in which Packer recently acquired a $328 million 10% stake. Packer is also reportedly negotiating to bow Indian movie and sports channels with Subrata Roy’s […]

  • Korean Giant to Emerge from CJ

    Korea's CJ Orders Up Merger of Media and Shopping Units

    SYDNEY — Kerry Packer has launched a $250 million venture capital fund to invest in Indian information technology and e-commerce companies with local entrepreneur Ketan Parekh and Hindustan Futuristic Communications in which Packer recently acquired a $328 million 10% stake. Packer is also reportedly negotiating to bow Indian movie and sports channels with Subrata Roy’s […]

  • Nicolas Winding Refn, Times Bridge Invest

    Nicolas Winding Refn, India’s Times Bridge Invest in MUBI Streaming Service

    SYDNEY — Kerry Packer has launched a $250 million venture capital fund to invest in Indian information technology and e-commerce companies with local entrepreneur Ketan Parekh and Hindustan Futuristic Communications in which Packer recently acquired a $328 million 10% stake. Packer is also reportedly negotiating to bow Indian movie and sports channels with Subrata Roy’s […]

  • Los Angeles Women's March

    Natalie Portman, Allison Janney, Viola Davis Join Women's March Los Angeles Lineup

    SYDNEY — Kerry Packer has launched a $250 million venture capital fund to invest in Indian information technology and e-commerce companies with local entrepreneur Ketan Parekh and Hindustan Futuristic Communications in which Packer recently acquired a $328 million 10% stake. Packer is also reportedly negotiating to bow Indian movie and sports channels with Subrata Roy’s […]

More From Our Brands

Access exclusive content