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Eros may sell entertainment content business to Apple for around $1 bn

Also includes Amazon, Netflix who've been pushing hard to enter Indian content streaming markets

Reuters  |  Mumbai 

Apple, WWDC 2017
Representative image Photo: Reuters

Indian movie production house Group is in preliminary talks with and other major content distributors to sell its entire of and music, a source familiar with the matter told Reuters on Monday.

The other parties in the fray include and Netflix, but talks are in very early stages, said the source, who declined to be named as the discussions are private.

India's Economic Times reported the talks earlier in the day. The newspaper, which cited multiple sources familiar with the matter, said the deal could be worth around $1 billion.

Group, whose International Plc is listed in New York, and were not immediately reachable for comment.

said it does not comment on speculation, while a spokeswoman for also said: "the company does not comment on rumour and speculation".

and have been pushing especially hard to make inroads into the burgeoning Indian content streaming market, and have bulked up their Bollywood offerings significantly in a bid to lure new subscribers.

The deal may include Eros' digital over-the-top (OTT) platform, Now, the Economic Times report said. With OTT platforms, subscribers can view and via the internet, without having to sign up with a or service provider. 

is advising on the deal, the report added.

Shares of the India-listed International Media rose as much as 9 per cent in early trading on the National Exchange to their highest since July 31. The was up 5 per cent at 220.85 rupees ($3.47) at 0600 GMT.

First Published: Mon, August 07 2017. 14:12 IST