Samir Patil and Shripal Morakhia, the founders of entertainment and education company ACK Media, are understood to have acquired a controlling stake in
Amar Chitra Katha
familiy of magazines.
The deal in the Indian children's magazine and comics segment comes after Geodesic bought a 94 per cent stake in the iconic children's magazine
for Rs 10.02 crore around nine months ago.
Post buyout, Anant Pai would stay on as editor emeritus and chief story teller for ACK Media, while Samir Patil would take over as chief executive officer.
Samir Patil, founder investor and CEO of ACK Media told
: "It is a 100 per cent cash deal. We are looking to invest $15-20 million over the next two to three years to make use of opportunities in licensing content and characters, intensifying retail penetration and introduce more offerings in the digital medium."
Although Patil declined a comment on the size of the deal, reliable industry sources put the deal at over Rs 10 crore, adding the stake was well over 90 per cent.
ACK Media is planning to tap licensing opportunities that lay in the popular characters and content of both the popular magazines for different media like television and mobile phones. Patil said that some television channels had shown their interest.
Soon, there could also be mobile games based on characters like
and even mobisodes of interesting stories.
Toys and other merchandise could also be sold to children via multiple media.
"We realise that children want collectibles of popular characters and hence we would consider the possibilities of developing some offerings in this space," he said.
The new company will launch with five offerings including
Amar Chitra Katha Illustrated Classics
Tinkle family of magazines
, The ACK Online Store, TinkleOnline.com and a set of proprietary characters from the comics.
Patil, who said that plans were also afoot to set up a gaming and animation studio to harness creative talent and develop new products and content for teens.
The new company has a team of 40 people across editorial, sales, marketing and business development that would develop content and products for education and entertainment and monetise the model.