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Balaji in talks with Reliance, Zee to sell 26% stake in ATL Balaji

Balaji Telefilms is in talks with Mukesh Ambani-led Reliance Jio, Zee Entertainment Enterprise and an international

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DQC Bureau
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Balaji Telefilms is in talks with Mukesh Ambani-led Reliance Jio, Zee Entertainment Enterprise and an international studio to sell stake of upto 26% in its ALT Balaji Digital Media Entertainment subsidiary, BloombergQuint reported recently.

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According to the report, Balaji Telefilms has so far invested close to Rs 40 crore in ALT Balaji. The company has plans to invest a total Rs 150 crore over the next three years to ramp up operations.

Launched in April this year, ALT Balaji is an over-the-top subscription video on demand platform, which has crossed over four million downloads globally and is currently the growth driver for Balaji Telefilms.

Notably, Reliance Jio, the 4G entrant, has a digital content ecosystem play. It offer video on demand, Live TV and music stream services to its customers in the country. It recently tied-up with Hotstar.

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