Hindi
Reliance ADAG steps out of bidding ring for MGM
MUMBAI: Anil Ambani‘s Reliance ADAG seems to have stepped out of the ring for buying out the debt-laden Metro-Goldwyn-Mayer (MGM).
There are reportedly just three likely bidders – Access Industries, Lionsgate and Time Warner. MGM, however, declined to comment on the development.
The deadline for submitting bidding offers was on Friday. But it now seems that the deadline has been pushed back – at least till Monday.
In January, Reliance Entertainment had signed MGM‘s confidentiality agreements to make bid offers.
MGM has run into financial stress, skipping an interest payment last year on its $3.7bn in debt when it failed to raise the capital required to support an ambitious production schedule. Its lenders have granted it forbearance from interest payments for some time.
MGM boasts of a library of 4,000 titles, including classics such as the Pink Panther and James Bond movies.
First-round offers are expected to come in between $1.5 to $2 billion, well below the $3.7 billion debt that the studio owes. If the bids come too low, MGM‘s creditors could decide to keep the company and restructure it, possibly filing for a pre-packaged Chapter 11 bankruptcy protection.
Hindi
Hansa Entertainment launched to produce across OTT, TV and film
New venture from R K Swamy Hansa Group eyes multi-language stories for digital-first audiences.
MUMBAI: Hansa Entertainment has just stepped into the spotlight because when a legacy media house decides to script its next act, even the credits get excited. Hansa Entertainment Private Limited has been incorporated to develop and produce original programming across digital, television, OTT platforms and theatrical features. The company will create short-running series, long-running series and original films for OTT, alongside standout theatrical ventures. It will also launch a podcast platform called Hansa Spotlight and produce content for the fast-growing vertical drama format. Stories are initially planned in Hindi, Tamil, Telugu, Malayalam, Bengali and Kannada.
The venture is founded by Sruti Swamy and Siddharth Swamy, drawing on the rich legacy of Hansa Vision and the broader R K Swamy Hansa Group. Sruti brings creative expertise with a master’s in architecture, interiors and design from Milan and a postgraduate degree in business management from the Indian School of Business. Siddharth contributes a data-driven perspective, having studied data science at Imperial College London.
Sujatha Narayanan has been appointed CEO of Hansa Entertainment. With over two decades of experience in creative content curation and production across film and OTT, she is also a well-known film columnist and media entrepreneur.
R K Swamy Hansa Group executive chairman Srinivasan Swamy said, “The launch of Hansa Entertainment marks an exciting new chapter. The new entity is the brainchild of the next generation and will be independently managed by Sruti Swamy, who is the Director and the newly appointed CEO.”
Hansa Entertainment director Sruti Swamy added, “I am very optimistic about the future of Hansa Entertainment, given the content explosion and the opportunities offered by new technologies for production.”
Hansa Entertainment director Siddharth Swamy noted, “The idea is to grow a contemporary production house that creates compelling stories for today’s multi-platform audiences while drawing inspiration from the rich storytelling traditions that audiences have appreciated over the years.”
Hansa Entertainment CEO Sujatha Narayanan said, “Hansa Entertainment will evolve as a story-first, IP-driven entity. We have already put together a smart team of interesting and dynamic creators who will helm our vertical dramas, shows and films.”
In the ever-evolving world of Indian entertainment, where stories now travel faster than the scripts that birth them, Hansa Entertainment is stepping onto the stage with fresh ink and big ambitions proving that even the best legacies know when it’s time for a compelling sequel.
