NEW DELHI: The Bobby Bedi promoted entertainment company Kaleidoscope Entertainment Pvt Ltd (KEPL) has announced a strategic partnership with leading Indian media conglomerate - ABP Pvt. Ltd.
The ABP-Kaleidoscope partnership will capitalise on both companies' strengths to create original content across media by producing high quality content for filmed entertainment, TV, mobile and Internet.
ABP will pump in Rs 200 million to kickstart Kaleidoscope's foray into new media, primarily focused at TV and mobile content development.
A rapid scale up of operations is envisaged to establish a broad and deep presence as a provider of premium content for this space.
"The paradigm of entertainment today has evolved beyond conventional definitions. The new media and digital content segment is growing in excess of 50 per cent annually and we envisage an acceleration driven by the ever widening consumer base for technology products," Kaleidoscope Entertainment Pvt Ltd MD Bobby Bedi said.
He also said that Kaleidoscope is "privileged" to join hands with the ABP Group, a blue chip media house in India, to leverage the best resources and expertise of both companies, offering rapid access to the fast growing entertainment industry, while also enabling us to quickly gear up to create and supply the mushrooming demand for technology driven entertainment content.
According to ABP Pvt Ltd MD and CEO Pramath Raj Sinha, "A conglomeration of Kaleidoscope (one of India's leading entertainment companies) and the ABP Group (one of the best in the business of media across genres) this enterprise is a win-win partnership for both the companies. This marks our foray into entertainment."
KEPL claimed it's India's first production house to follow an international approach in filmmaking and is an internationally recognised film and television production house with critically acclaimed films like Bandit Queen, Saathiya, Maqbool and Mangal Pandey - The Rising to its credit.
The ABP Group has, today, evolved into one of the foremost media conglomerates in the country, with twelve premier publications, two 24-hour national TV news channels, two leading book publishing businesses, several mobile and Internet properties and a radio channel in the offing.
