PE Funds Apparently Eying 32 Percent Stake In Sony Entertainment Television
By Nikhil Pahwa - Mon 05 Nov 2007 10:54 PM PST
Warburg Pincus, Blackstone and Standard Chartered Private Equity are among the Private Equity players looking to buy the 32 percent stake in Sony (NYSE: SNE) Entertainment Television reports ET. Sony Pictures Entertainment (SPE) holds 62 percent in SET, while Indian promoters including actor Jackie Shroff, Shemaroo Films MD Raman Maroo, MobiApps Holding’s Jayesh Parekh and World Media group director Sudesh Iyer, hold around 32 percent. The promoters are seeking a valuation of between $1-1.5 million for SET, which pegs the 32 percent shareholding at between $300-400 million. SETs broadcast bouquet includes channels like Sony, SET MAX, SAB TV and AXN, and it had been looking at an IPO, but as apparently majority stakeholder SPE is not too keen.
Posted in: Companies, Sony, SET, JV & Investment, TV
