ACK Media acquires majority stake in Karadi Tales

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Mumbai, Apr 23 (UNI) ACK Media announced its acquisition of controlling stake in Karadi Tales, a pioneer in the world of original Indian content in direct-to-home audio and video CDs, VCDs and DVDs for the pre-school audience.

This acquisition will expand the ACK Media product portfolio to all age groups and platforms including comics, books, CDs, VCDs and DVDs. The deal will enable ACK Media to deepen and broaden its distribution and in-store presence. ACK Media will also benefit from the experience and extensive creative network of Karadi founding team of C P Viswanath, Shobha Viswanath, and Narayan Parshuram.

Following the deal, Karadi Tales will continue to operate as an independent company from Chennai. The founding team will drive an increased focus on new audio and video product development for retail, online and broadcast markets. The two companies will integrate and share their sales, marketing and distribution resources.

''Both Karadi Tales and ACK Media have a common aim -- to promote quality Indian content across age groups -- universally. Our brands share a lot of synergy because of similarity of customer base and focus on innovation. This brand synergy was pivotal to our investment in Karadi Tales,'' ACK Media CEO Samir Patil.

UNI AR GR AG1827

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