Hindujas plan Rs500 crore investments in media

Mumbai: The Hinduja group has announced that it plans to invest Rs500 crore in media business. The first phase of investment would be on existing business, including acquisitions in the market, content production, distribution and exhibition, Hinduja TMT co-chairman Ram Krishna D Hinduja told reporters.

The Hinduja group had, earlier this year, decided to demerge its media and BPO businesses. . (See: TMT to demerge IT, ITeS services in to separate company)

Reports, meanwhile, said the John Malone-controlled Liberty Media is looking at India as the next business destination after Japan.

"Over the last six years, we haven't looked too closely at this market. But now I want to get a more informed view," reports quoting Shane O'Neill, senior VP, chief strategy officer and board member of Liberty Global, as saying. Reports also said that Liberty had earlier tried to buy into the Hinduja group's InCableNet, but the deal fell through over valuations.

Liberty, however, is still on the lookout for a partner en route to the Indian market. "Currently India is the best opportunity in Asia, even more than China. We have the appetite to invest in these markets and are not worried about the complexities that exist," O'Neill said, adding that it was "highly unlikely we would enter without (an Indian) partner".