GECs
Blackstone to invest $ 275 million in Ramoji
MUMBAI: In the single-largest investment in Indian media, global private investment firm Blackstone Group has announced it will be pumping in $ 275 million (approximately Rs 12.38 billion) to acquire a stake in Ushodaya Enterprises Limited (UEL), the holding company that manages Ramoji Rao’s media assets.
While yesterday’s announcement gave no details on the quantum of the stake that Blackstone would be taking in the south Indian media baron’s closely held company, media reports have put it at 26 per cent. This would put UEL’s enterprise valuation at $1.06 billion.
In addition to the $ 275 million that UEL is raising from Blackstone, it is also taking $190 million of bank financing, bringing the total financing it expects to raise to $465 million. As part of the agreement, Blackstone will have representation on the Board of UEL.
The transaction is subject to regulatory approval by Foreign Investment Promotion Board (FIPB) and the information and broadcasting ministry.
UEL chairman Ramoji Rao stated, “We were impressed with Blackstone’s disciplined and highly rigorous investment process and the ability to combine this emphasis with a deep and genuine respect for the promoter’s interests and desire to add value. The company had access to several financing options, including an IPO; but we decided to go with Blackstone because we believe that at this stage of our growth we have an opportunity to create significant value by leveraging Blackstone’s outstanding experience and track record in the global media sector.”
Akhil Gupta, chairman and managing director of Blackstone Advisors India Private Limited, stated, “We believe that the Indian media sector will be a key beneficiary of a secular trend in growth in personal consumption that is driving India’s economic expansion which in turn will spur advertising growth. Importantly, we believe that UEL is an ideal platform for Blackstone to play this highly attractive sector in India..”
Kotak Investment Banking acted as the sole investment banking advisor to the transaction.
UEL owns Eenadu, the third largest newspaper, and ETV, the fourth largest private television broadcasting network in the country. The parent company of UEL, Ramoji Group, owns the 1,600-acre Ramoji Film City, which is Asia’s largest studio, apart from diversified interests in hotels, foods and financial services.
The Blackstone Group is a global private investment and advisory firm that has has raised a total of more than $75 billion for alternative asset investing since its formation of which over $30 billion has been for private equity investing
MUMBAI: Lights, camera… connection because this time, the game isn’t just about winning, it’s about who’s with you. Sony Pictures Networks India is gearing up to launch a new reality game show, Tum Ho Naa, expanding its unscripted slate with a format that promises both emotion and engagement.
The show will premiere soon on Sony Entertainment Television and stream on Sony LIV, with Rajeev Khandelwal stepping in as host. Known for his measured screen presence and selective choices, Khandelwal’s return to television adds a layer of familiarity and credibility to the upcoming format.
While specific details of the gameplay remain under wraps, the positioning suggests a reality format that leans as much on emotional resonance as it does on competition, an increasingly popular blend in Indian television, where audiences are gravitating towards content that offers both stakes and storytelling.
Khandelwal, reflecting on his return, noted that his choices have often been guided by instinct rather than convention, describing Tum Ho Naa as a project that feels “close to the heart”. His association also signals Sony’s continued focus on anchoring new formats with recognisable faces who bring both relatability and depth.
The launch comes at a time when broadcasters are doubling down on original non-fiction formats to drive appointment viewing, even as digital platforms expand parallel reach. By placing the show across both linear television and OTT, Sony appears to be aiming for a dual-audience strategy capturing traditional viewers while engaging digital-first consumers.
As the countdown to premiere begins, Tum Ho Naa positions itself not just as another game show, but as a reminder that sometimes, the biggest prize on screen isn’t the jackpot, it’s the journey shared along the way.
