To set up Rs 1000 crore corpus to co-produce and consolidate content
Reliance Industries, through its subsidiary, and Eros International Media announced that they have agreed to partner in India to jointly produce and consolidate content from across India. The parties will equally invest up to Rs. 1,000 crore in aggregate to produce and acquire Indian films and digital originals across all languages.In addition, it was announced that Jyoti Deshpande, Group CEO and MD of Eros International Plc (Eros Plc), the ultimate NYSE listed parent of Eros India will be stepping down from her Executive role after more than 17 years in Eros Plc and move on to head the Media and Entertainment business at RIL as President of the Chairman's Office. Deshpande will start her new role at RIL from April 2018, but will continue to remain as a Director on the Board of Eros India as well as Eros Plc. Kishore Lulla will resume his position of Group Chairman and CEO of Eros Plc.
In her new role at RIL, Deshpande will lead the company's initiatives in Media and Entertainment to organically build and grow businesses around the content ecosystem such as Broadcasting, Films, Sports, Music, Digital, Gaming, Animation etc., as well as integrate RIL's existing media investments such as Viacom and Balaji Telefilms with a view to build, scale and consolidate the fragmented $20 billion Indian M&E sector.
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