MUMBAI: GV Films will be acquiring 70 per cent stake in Tamil Box Office, a Singapore based satellite movie channel that is currently owned by Pixei Box Office Pte Ltd.
"We are planning to acquire about 70 per cent in the channel. We already have the funds and the additional funding, if required, will be done through a second round of placements - via FCCB and preferential allotment of shares. The content for the channel will mainly come from the GV Films movie library," says GV Films chairman Mahadevan Ganesh.
Ganesh said that the channel would be promoted globally after the acquisition. The acquisition of Tamil Box Office will mark the production house's foray into the broadcast business.
