Zee Entertainment Enterprises Ltd (ZEEL) on Wednesday announced the sale of its sports network TEN Sports to Sony Pictures Network (SPN) in an all cash deal for $385 million. TEN Sports portfolio includes TEN 1, TEN 1 HD, TEN 2, TEN 3, TEN Golf HD, TEN Cricket and TEN Sports. The network operates these channels across India, Maldives, Singapore, Hong Kong, Middle East, and Caribbean.
Leading entertainment and talent management firm Kwan has acquired entertainment startup Gigstart for an undisclosed amount. Gigstart is an online marketplace which facilitates interfaces between entertainers across genres including movies and music, event managers and party planners. Gigstart’s mobile app will provide access to its aggregator base of 4,200-plus verified artists across 16 categories, and be an interface enabling users to browse through artist categories and book talent.
8TV, a San Francisco based startup, has raised $500K from RedCliffe Capital Managing Partner Dheeraj Jain, Google executive Tidhar Carmeli, and AngelPad’s Thomas Korte. Tech giant Amazon has also invested about $100K (INR 66 lakh) worth of AWS services credit in the company, according to an official statement.The funding will be utilized to strengthen the platform and enter into new Asian markets, including India. 8TV will begin operations in India with The Man Company, a Gurgaon-based digital platform offering grooming products for men.
Film discovery app Flickbay, backed by actor and movie director Farhan Akhtar, has raised $890,000 (about Rs 6 crore) in seed funding from Paul Roy, chairman of Dubai-based Riva Digital. The platform provides news, trailers, songs, reviews, ratings, box office collections and information about movies playing in theatres and on TV. It claims to have recorded 70,000 downloads since its launch two weeks ago.
News and ebooks mobile application Dailyhunt has picked up a minority stake for Rs 15 crore in OneIndia, the local news language portal owned by Rajesh Jain and BG Mahesh. The deal will help Dailyhunt, which focuses on local language users, generate multimedia content, especially short format video and audio, for its platform.