Jupiter Media and Entertainment Ventures (Jupiter) has picked up a minority stake in Express Publications (Madurai) (EPML) last week, foraying into the print media.
The alliance will be a stepping-stone for its plan to consolidate its position in Southern India, senior official at Jupiter said.
In the next two quarters, Rajeev Chandrasekhar-owned Jupiter is expected to acquire 100 per cent in Kannada Prabha, the official said on the condition of anonymity. The alliance, so far restricted to Kannada Prabha, will then explore other regions that Jupiter and Express are already present in.
“We will look for other opportunities to expand in existing and new regions,” said the official at Jupiter. “The alliance will help Jupiter accrue significant savings while advertisers will have the advantage of creating region- specific campaigns emerging out of the editorial synergies between Kannada Prabha and Suvarna News — Jupiter’s 24-hour Kannada news channel — and other similar initiatives planned across regional markets.”
Jupiter’s production arm will soon release four regional films for Rs 40 crore in 2010-11.