Sajid Nadiadwala for Nadiadwala Grandson Entertainment today has announced that in a strategic move, his company has agreed to acquire a 50% stake in a high profile television channel. Channel name has been withheld because an official announcement is soon to follow. The investment is based on an enterprise value of 100 crore (approx. 1 million Rupees).
This is a great strategic move for NGE that reinstates the leading production house's corporate branding and business sense. .
On the acquisition, Mr. Nadiadwala , director Nadiadwala Grandson Entertainment said, "This acquisition is an important step from our company towards consolidation in the TV industry. We are confident that this will add immense value to the company and also strengthen our company profile. We have other expansion plans which we will announce shortly."
Considering that there are these winds of change in Bollywood where filmmaking is taking on new business heights, Nadiadwala Grandson adds a feather to their already studded cap even as the company continues making feel good cinema.
Says Sajid, "Nadiadwala Grandson has remained rock steady because of its single most desire to ENTERTAIN with clean family Entertainment. The banner has always made universal film with total dedication and creativity at the highest level. We have created success stories in Romantic comedy genre. But saying that our new mantra would be that no consumer, no market, no opportunity, no genre is beyond reach. Today its television, tomorrow it could be new media. The sky is the limit."