Kishore Biyani-led Future Group to take Amar Chitra Katha digital
Kishore Biyani, CEO of Future Group whose public listed arm Future Ventures holds a majority stake in edutainment media firm Amar Chitra Katha Pvt Ltd, intends to take the comics to the digital space as animations, short films or e-books reports The Economic Times.
The investment and business management firm Future Ventures India Ltd upped its holding in edutainment media firm Amar Chitra Katha Pvt Ltd (ACK) to 66 per cent in April this year. In April 2011, Future Ventures had picked up a little over 26 per cent stake in ACK for Rs 37.5 crore, valuing the firm at Rs 140 crore. AIM-listed and India-focused private equity firm Elephant Capital is also an investor in ACK. In July 2011, it had acquired 30 per cent stake 'from existing promoters' of the company, thus increasing its shareholding to 56 per cent and making ACK its subsidiary.
As part of its transition the company plans to release short films for tablets and other digital mediums as well, which will be sold in Big Bazaar stores and also at other retail outlets both offline and online. In digital forms, Amar Chitra Katha stories can be consumed across different platforms from mobile phones and tablets to movie theatres and televisions.
He was quoted saying, "We want to take storytelling to digital space and other new-age forms which will connect with target audience. Amar Chitra Katha as a brand doesn't perish and it can be extended in many segments to take it to the next level."
(Edited by Prem Udayabhanu)