MAM
Viacom looks to let go off video rental chain Blockbuster
MUMBAI: Media conglomerate Viacom is looking to sell video rental chain Blockbuster. The unit has had a bad time as of late and a group of private equity buyers are said to be interested in the property.
New technology such as video-on-demand which is growing in use has badly impacted Blockbusters revenue. In addition DVDs are becoming increasingly cheaper courtesy store discounts. Of course there is the ever present menace of illegal online downloading of movies.
A report in the Wall Street Journal indicated that Viacom is holding discussions with a group of private equity firms including Thomas H Lee, Blackstone and Quadrangle. Viacom has an 82 per cent stake in Blockbuster.
Another report in Media Guardian informs that the first Blockbuster store opened in Texas in 1985. It grew rapidly and has 8,500 outlets with 48 million members. Last year it began offering DVDs for sale alongside its rental business. It is facing tough competition from discount retailers such as Wal-Mart. If the deal goes through it could be valued at nearly $2.5 billion
MAM
Sameer Nair steps down as CEO of Applause Entertainment
Veteran media executive exits after a decade at the Aditya Birla Group-backed studio.
MUMBAI: After a decade of calling the shots, Sameer Nair is taking a bow from Applause Entertainment. The veteran industry leader and CEO of the prominent content studio is stepping down from his role, according to sources familiar with the development. This marks a significant leadership transition at one of India’s key players in the television and digital content space.
Applause Entertainment, part of the Aditya Birla Group, has built a strong reputation under Nair’s leadership for its high-quality adaptations of international formats and a slate of original series across OTT platforms. Nair, who joined the company a decade ago, was instrumental in shaping its growth and positioning it as a notable force in India’s evolving streaming landscape.
Prior to Applause, he held senior roles at major media organisations, including Star India, where he played a pivotal part in the launch of the iconic show Kaun Banega Crorepati in 2000. He also worked with Balaji Telefilms and NDTV Imagine.
It remains unclear who will succeed Nair or what his next professional move will be. Queries sent to Nair did not receive a response, and Applause Entertainment declined to comment on the matter.
His exit comes at a time when the Indian content ecosystem is undergoing rapid changes, with streaming platforms recalibrating investments, focusing on profitability, and adjusting content strategies amid shifting viewer preferences and increasing competition.
Industry insiders suggest the transition could signal a strategic reset for Applause as it navigates the next phase of growth.
In the fast-paced world of Indian entertainment, where hits can fade as quickly as they rise, Sameer Nair has enjoyed a remarkably steady and influential run. As he steps off the stage at Applause, the spotlight now turns to what comes next for both the executive and the studio he helped build.
