Discovery Communications said it acquired a majority stake in Turmeric Vision Private Limited, which owns pay TV network FoodFood in India.
The deal makes Discovery partners with India’s top culinary celebrity Sanjeev Kapoor.
Financial terms of the deal were not disclosed.
The deal expands Discovery’s presence in India. Discovery said it plans to support FoodFood’s 100% focus on local programming. Discovery will be selling FoodFood’s advertising, effective immediately.
“FoodFood is widely admired for its highly relevant, topical, varied, entertaining and delectable programming. I am delighted to become a part of the Discovery family and I am confident that this partnership will strengthen FoodFood’s reach and affinity with consumers, advertisers and distributors," said Kapoor.
Turmeric Vision Private Limited will be managed as part of Discovery’s Asia-Pacific region. Completion of the transaction is expected to occur in the coming weeks, subject to regulatory approvals.
“Discovery’s investment in FoodFood further boosts our presence in this important market and broadens our portfolio by adding a category of content that people love,” said Arthur Bastings, president & managing director, Discovery Networks Asia-Pacific. “We are excited to partner with the exceptionally talented team, including culinary guru Sanjeev Kapoor, who singlehandedly revolutionized the food television genre in India. Sanjeev’s creative flair and personality combined with Discovery’s content and operational expertise is the perfect recipe for FoodFood’s evolution.”
