News - 07/08/2017

Apple getting closer to an acquisition of the film and music library of Eros Group

Apple getting closer to an acquisition of the film and music library of Eros Group

Apple is reportedly getting closer to a $1bn acquisition of the film and music library of Eros Group - the largest movie producer in India, counting more than 3,000 films across Bollywood and other productions under its control.

According to the "Economic Times", Amazon and Netflix are also interested in potentially purchasing Eros’s content library.

In order to tidy up its structure pre-acquisition, Eros Group is planning a reverse merger of its NYSE-listed subsidiary Eros International and the India-based parent Eros International Media, which handles the majority of content production. Eros Music currently sits under Eros International.

In addition to these entities, Apple may consider a bid for Eros’s digital movie platform, Eros Now, dubbed the "Netflix of Bollywood" with rights to more than 10,000 movies.

Eros Now has nearly 2.9 million paid subscribers and over 100 million registered subscribers, and is also housed under US entity Eros International.

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