Mukta Arts acquires 51 percent stake in Coruscant

Monday, 22 September 2008, 16:24 IST
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Mumbai: Indian film producing company Mukta Arts has acquired 51 percent stake in the Chennai-based Coruscant , a leader in the mobile value-added services sector. Founded 30 years ago by Bollywood filmmaker Subhash Ghai, Mukta Arts has over the years diversified its portfolio into different fields of film trade, including filmmaking, distribution, exhibition and education. Mukta was the first Bollywood production house to be listed in the Bombay Stock Exchange. With the acquisition of controlling stake in Coruscant , the company wants to further consolidate its position in the entertainment industry. "Mukta Arts is a content-creation company and Coruscant Tec offers content delivery solutions in the new mobile space," Ghai said in a statement. "We expect synergy arising out of short format content, created either by Mukta or by its training institute, Whisling Woods, and released the same through Corusant," he added. When contacted, Ghai's office refused to divulge the financial details of the deal, as per which Mukta has the option of acquiring the remaining 49 percent stake in Coruscant.
Source: IANS
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