March 3, 2013: Sony which recently got an approval from FIPB to increase stake in its Indian subsidiary Multi Screen Media (MSM) is all set to get back to movie production. They recently hiked their stake to 94 per cent in MSM. Sony also has plans to start more television channels as funds are no more going to be an issue for MSM and because of the majority stake, Sony can go ahead with the initiatives. Six per cent stake of MSM is still with other investors and Sony would be taking that stake as well at a later stage.
Sony had earlier produced a bollywood movie “Sawaariya” which did not get the cash registers ringing but the company had renewed its interest in Hindi movie production and has signed its first co production deal with Eros. The company is in the process of signing two more movies. The company would be looking for co-productions or work with independent producers apart from having their own productions. Sony is also planning to increase its television presence and looking to operate in both general entertainment and movie channel space. They are in advance talks to buy a stake in Maa TV as well and are looking to launch a Hindi channel in the action and adventure space as well.
