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Report: Eros in talks with Apple, others over $1B content library, OTT platform

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Report: Eros in talks with Apple, others over $1B content library, OTT platform

India-based movie producer Eros Group is in discussions with Apple Inc., Amazon.com Inc. and Netflix Inc. for a possible sale of its entire content library of films and music, The Economic Times (India) reported Aug. 7, citing sources familiar with the matter.

The company is also looking to include its digital over-the-top platform Eros Now in the planned sale that is estimated to have a deal value of about $1 billion.

Eros India's content collection comprises more than 3,000 Bollywood and regional films, while Eros International's unit Eros Now has over 10,000 films in its library and owns about 5,000 in perpetuity.

The Kishore Lulla-led company reportedly is planning to embark on a major restructuring exercise that is likely to result in a reverse merger of its NYSE-listed parent Eros International Plc into its India-listed subsidiary Eros International Media by March 2018 to create a single listed company.