iWorld
NewQuest buys out Emerald Media’s majority stake in Cosmos-Maya
Mumbai: Indian animation major Cosmos-Maya on Monday announced that Hong Kong-based NewQuest Capital Partners (NewQuest) has acquired a majority interest in it from Emerald Media, an investment platform backed by KKR. The company has not disclosed the terms of the transaction, but The Economic Times reported that the deal values the Ketan and Deepa Mehta promoted studio at $90 million.
Having gained significant market share in India, the animation company is aggressively expanding its operations in the western markets producing several successful TV series, shows, and independent feature films for leading platforms in Europe and the US. The company has also become one of the largest providers of animated content to leading edtech players in India and the US.
Said Ketan Mehta: “Cosmos-Maya has had a phenomenal journey of 25 years in animation and has grown by leaps and bounds during this period. The partnership with Emerald Media heralded a strong growth era for us. I am very happy that we are now getting a partner in NewQuest. The partnership marks yet another important chapter in the global journey of our studio, which is poised for accelerated growth.”
“Cosmos-Maya has been one of the most dynamic companies in this segment with a remarkable growth trajectory, ” said NewQuest partner & head of India & southeast Asia Amit Gupta. “With a portfolio of over 20 IPs and a highly talented team, we strongly believe that Cosmos-Maya is exceptionally well placed to consolidate its leadership position in the segment.”
“We are privileged to have worked closely with Ketan and Anish (Mehta- the current CEO of Cosmos Maya) over the years to support Cosmos-Maya’s journey in becoming a leading animation studio in India and the wider region,” said Emerald Media MD Rajesh Kamat. “Emerald Media has leveraged our industry expertise and the strength of our platform to help the company establish a solid foundation to expand its footprint in India and across the globe. Cosmos-Maya has shown a robust growth trajectory on the back of its creative and innovative IPs through the years, and we are confident that the company will continue its success in the future with NewQuest.”
“This is a new and interesting chapter for us as we look at larger markets and newer challenges,” said Anish Mehta. “Emerald Media has been a great support in our growth story and now this investment from another great investor like NewQuest is a testament to our market leadership and strong operating performance. We are excited to bring NewQuest on board as we embark on our next growth phase to become a fully integrated, global animation production and distribution company. Their experience, network, and industry knowledge will help supercharge our growth, organically and through strategic acquisitions.”
GCA acted as an exclusive financial advisor to Cosmos-Maya and its shareholders. SNG & Partners and Cyril Amarchand Mangaldas acted as legal advisors, and EY and BDO acted as due diligence and transaction tax advisors.
The Economic Times reported that Emerald Media’s exit gave it a 3X-4X ret return on its investment it made in Cosmos-Maya in 2018. Today the latter is producing anywhere between 18-20 animation shows for local and international broadcast networks; some of which are being co-produced.
iWorld
Netflix cuts jobs in product division amid restructuring
Layoffs hit creative studio unit as leadership and strategy shifts unfold.
MUMBAI: The streaming wars may be fought on screen, but the latest plot twist is unfolding behind the scenes. Netflix has reportedly begun laying off several dozen employees from its product division as part of an internal reorganisation, according to a report by Variety. The cuts are believed to have primarily affected the company’s creative studio unit, which works on marketing assets such as in app trailers, promotional visuals and live experience content for the streaming platform.
The company has not disclosed the exact number of employees impacted.
According to the report, the layoffs were not tied to employee performance. Instead, the restructuring eliminated certain roles while other employees were reassigned to different teams within the organisation.
The roles affected are understood to include designers, producers and creative specialists responsible for marketing and brand experience initiatives.
The job cuts come as Netflix adjusts its leadership structure and reshapes its product and creative teams. Last month, Elizabeth Stone was promoted from chief technology officer to chief product and technology officer, giving her oversight of product, engineering and data operations across the company.
Earlier, in December 2025, Netflix also appointed Martin Rose as head of creative for global brand and partnerships, a move seen as part of a broader restructuring of the company’s brand and product functions.
Despite the layoffs, Netflix remains one of the largest employers in the streaming sector. The company is estimated to employ around 16,000 people globally, with roughly 70 percent of its workforce based in the United States and Canada. In 2023, the company reported approximately 13,000 employees, indicating that its headcount had grown significantly before the latest restructuring.
The workforce changes arrive at a time when Netflix is navigating a shifting financial and strategic landscape in the global entertainment industry.
The streaming giant recently secured $2.8 billion in additional cash after receiving a breakup fee from Paramount Skydance following its withdrawal from a deal involving Warner Bros. Discovery.
Speaking to Bloomberg, Netflix co chief executive Ted Sarandos explained that the company had evaluated multiple scenarios during the negotiations but chose not to match the competing offer once it learned that a higher bid had been submitted.
Netflix had capped its offer at $27.75 per share and ultimately stepped back rather than pursue Paramount’s $111 billion acquisition deal, which included a personal guarantee.
Sarandos also cautioned that the financing structure behind the Paramount Skydance transaction could have ripple effects across the entertainment industry.
According to him, the debt heavy deal could trigger significant cost cutting, with David Ellison, chief executive of Paramount Skydance, expected to eliminate about $16 billion in costs and potentially cut thousands of jobs as part of the integration process.
For Netflix, the current restructuring appears to be part of a broader attempt to streamline operations while continuing to invest in product, technology and global content even as the streaming industry enters a new phase of consolidation and financial discipline.
