Call it an epic transaction. Mukesh Ambani has tuned out of Epic TV and sold his personal investment in the Hindi general entertainment channel to Anand Mahindra. Sources say India’s richest man, Mukesh Ambani, held more than 25% stake in Epic TV.
This is nearly three years after the two billionaires joined forces with media veteran Mahesh Samat to start a Hindi channel dedicated to Indian mythology and history.
M&M’s top boss, Anand Mahindra, is now the sole owner of Epic. This as the third co-founder, Mahesh Samant,also recently sold his personal stake in the channel to Anand Mahindra. Since then, Mahesh Samat has returned to Walt Disney.
A spokesperson for Reliance Industries said Ambani had made the investment in his personal capacity and confirms the stake sale to Anand Mahindra.
M&M’s top boss, Anand Mahindra, is now the sole owner of Epic. This as the third co-founder, Mahesh Samant,also recently sold his personal stake in the channel to Anand Mahindra. Since then, Mahesh Samat has returned to Walt Disney.
A spokesperson for Reliance Industries said Ambani had made the investment in his personal capacity and confirms the stake sale to Anand Mahindra.
Pittie declined to comment on by when this transition would be completed, or how much Anand Mahindra is willing to invest in the channel.
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Source: Economic Times
