Saregama to foray into event management biz

RPG Group's entertainment company Saregama India says it plans to pick up stake in an event management company shortly to enable it to foray into the new business.

RPG Group's entertainment company Saregama India on Saturday said it plans to pick up stake in an event management company shortly to enable it to foray into the new business.

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"We are in talks with an event management company which are in the final stage of negotiations. We will pick up stake within July," Saregama vice-chairman Sanjiv Goenka told reporters on the sidelines of a music launch of a Bengali film in Kolkata on Saturday.

He said events were becoming an important element of entertainment and this was the reason for the company to venture into event management covering the entire spectrum of entertainment.

Goenka, however, did not spell out the name of the target company and whether Saregama would pick controlling stake in it.

Speaking about film production, Goenka said the company would aggressively produce films and in the next two years and pump in Rs 100 crore in seven films.