Sony pictures bigger India share

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Sony Pictures Television has agreed to acquire an additional 32% of the shares of Multi Screen Media, which will increase its interest in the Indian company to just over 94%.

Sony Pictures Television will pay US$271 million to acquire the shares from Grandway Global Holdings and Atlas Equifin. An initial payment of US$145 million is due at the closing of the acquisition, which is expected in December, and the remaining US$126 million in three equal annual instalments starting from the fiscal year beginning on 1 April 2013.

Sony Pictures Television is a subsidiary of Sony Pictures Entertainment. It produces telefilms, series, theatrical releases and family entertainment globally.

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