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FDI in M&E rises by 72% in FY12
FDI in the M&E sector revived in FY12 after dipping in FY11. The sector received FDI worth INR32.64 billion during the year, 72% more than in FY11. FDI in the M&E industry was recorded at INR18.87 billion and INR23.40 billion in FY11 and FY10, respectively. Marquee transactions in 2011 included Walt Disney Company’s acquisition of UTV Software, Providence Equity Partners’ PE investment in UFO Moviez India and HSBC PE’s investment in Avitel Post Studioz.1
Press Council urges Government to bring all of media under its purview
The Press Council of India (PCI) has urged the Union Government to bring all media, including electronic and social media, under its purview. PCI has asked the Information and Broadcasting Ministry to make the required amendments in this regard. It wants the Government to initiate suitable legislation to amend the Press Council Act by bringing electronic media (broadcast and social media) within the purview of the Press Council Act and renaming it The Media Council.2
Jump Games to invest US$8 million to create games for international market
Reliance Entertainment Digital’s Jump Games, a publisher and developer of mobile games, is creating eight mobile games for the global market this year. Each of these will entail an investment of around US$0.5–1 million. The company is also creating around 50 games for the Indian market, each of which will require an investment of around INR1–1.2 million.3
1“FDI in media & entertainment rises 72% in 2011-12,” Indiantelevision, 3 September 2012, via Factiva.
2“Press Council urges Govt to bring all media under its purview,” Indiantelevision, 29 August 2012, via Factiva.
3“Jump Games to invest US$8 million to create games for international market,” Business Standard, 31 August 2012, via Factiva.