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.
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.