LONDON CA Media, the investment division of Peter Chernin’s The Chernin Group, has acquired 49% of Endemol India.
The deal, announced Thursday, is financed from Chernin’s recent sale of a $200 million minority stake in the group to Providence Equity Partners and other investors. Though numbers were not disclosed, CA Media chief executive Paul Aiello said, “This is our largest investment in Asia to date.”
Endemol India managing director Deepak Dhar has been upped to chief executive.
Since it was set up in 2006, Endemol India has produced several hit shows including local versions of “Big Brother,” “Fear Factor” and “Deal or No Deal.” The shingle intends to enter film production and expand its scripted series business.
Endemol Group CEO Just Spee said, “India represents a significant opportunity for Endemol and our collaboration with CA Media strongly positions us to become the region’s largest content producer.”
Chernin has also teamed with Indian digital company Zodius to acquire a minority stake in India’s Only Much Louder, a company that targets youth through music festivals and web content. It produces music shows for MTV India via its production division Babble Fish.
India is the third largest TV market in the world after the U.S. and China with 146 million TV households. The TV industry was worth $6.2 billion in 2011 and is poised to grow 17% a year to reach $14 billion by 2016, according to a KPMG report.