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SET to announce major buys in India

August 18, 2006 17:29 IST

As it battles stiff competition, Sony Entertainment India is finalising "major acquisitions" in India that can be announced in the next few months.

SET India Chief Executive Kunal Dasgupta said the company was in the process of working out major acquisitions in India, but refused to divulge further details.

"All I can say is that we are working on some major acquisitions. They could be announced in the next few months, by December," he told PTI in New Delhi.

Asked on the funding for the buyouts, he said it was not a concern for the company. "Sony is a big company globally with huge revenues. Money would not be a concern," he said.

Sony, which had climbed to the second position in the Indian television segment behind Star TV, is facing stiff competition from homegrown Zee TV. With a host of blockbuster shows, Zee has been a source of concern for Sony in the Indian market and Dasgupta said the company was taking steps to counter the competition.

Sony has recently restructured its management team in India. It has brought in Balaji creative head Sandiip Sikcand as the chief creative director of its flagship channel Sony Entertainment channel.

Also, company executive vice-president (ad sales and revenue management) Rohit Gupta has been given additional responsibility of the digital, licensing and telephony group.

Gupta continues to report to SET India CEO Kunal Dasgupta. Set India VP licensing and telephony Kaushal Modi, who has been reporting to company Chief Operating Officer N P Singh, will now report to Gupta.

The network has created a new enabling and technical services group, which will be under Anjani Kumar, who has been heading HR and administrative functions for the company so far.

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