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Malaysian Astro buys Sanjeev Kapoor's 'Food TV'
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The Malaysian broadcaster Astro All Asia Networks (Astro) through its Mauritius-based subsidiary South Asia Creative Assets Ltd (SACL) has picked up 80% stake in Sanjeev Kapoor's four-year old television firm Turmeric Vision Pvt Ltd (TVPL) valuing it at Rs 152.5 crore.

Under the contours of the deal, Astro will pump in Rs 122 crore in TVPL over next three years and TVPL will use the money to launch a dedicated 24 hours food channel Food TV shortly.

TVPL has already obtained the permissions from the I&B ministry for launching India's first dedicated food channel.

Astro is already an investor in Kalanithi Maran's Sun Direct DTH. It also holds 20% stake in South Asia FM, the private FM venture of the SunTV Group. It is also looking for more investments in television content creators and cable operators.

Source: Media Mughals

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