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MUMBAI: Kids Media India (KMI), a wholly owned subsidiary of Dubai-based Spacetoon Media, is in talks with strategic and private equity investors to dilute part of its stake. |
KMI, which is in the process of launching a kids channel in India, has a fund requirement of Rs 1 billion over three years.
"We are in talks with investors to part-fund our expansion plans in India. We intend to invest Rs 1 billion over three years," says Kids Media India MD & CEO Rajiv Sangari.
KMI has already received Rs 780 million from its parent company. Spacetoon Media Group is a $200 million capitalised company and plans to have a presence in kids TV and licensing and merchandising business in India.
"The channel is in test run and we are in talks with cable TV operators. We are looking at digital distribution platforms including DTH," says Sangari.
KMI plans to invest Rs 250 million for distributing the channel in the Hindi-speaking markets.
Spacetoon Media runs Spacetoon TV, a kids entertainment cartoon channel, since March 2000. The channel transmits in more than 22 countries throughout the Middle East, North Africa, Indonesia and Korea.
KMI is an active player in the licensing and merchandising market in India. It recently entered into a pact with Marvel Entertainment International to represent its licensing, merchandising, publishing and promotional programmes in the country. Spiderman, X-Men, The Hulk, Iron Man, Ghost Rider and Captain America are some of Marvel‘s properties. Sports entertainment major WWE has also appointed KMI as a licensing partner in the country for its consumer products.
