Tribune Digital Ventures, the newly created digital arm of the media company Tribune Media, is acquiring What's-ON, a TV search and electronic program guide data provider serving the Indian and Middle East markets.
The $27 Mn (c.INR 1,620 Mn) buy would enable Tribune's TV listings and video metadata footprint to expand to cover more 50 countries and more than 30 languages, while reaching more than 600 million TV subscribers.
The deal would complement its other recent acquisition of music and tech media firm Gracenote from Sony which boosted its European program guide business.
The addition of What's On India Media Private Limited further extends this reach and strengthens Tribune's position internationally particularly India which is world's third largest TV market, after the U.S. and China, with an estimated 175 million homes and a growing base of digital cable subscribers.
What's-On-India, founded by Atul Phadnis and owned by Intel, Sequoia Capital and Nexus delivers data for more than 1,6000 TV channels and works with some of marquee TV networks, service providers and consumer electronics manufacturers, including STAR TV, Discovery Networks, Hathway Cable, Qatar Telecom, Samsung and Sony.
EPG data and TV search products of What's On is available in 16 countries, including India, United Arab Emirates, Saudi Arabia, Jordan, Egypt, Qatar, Bahrain, Indonesia, Kenya and Sri Lanka.
What's-ON's founder and CEO Atul Phadnis and his team will work together withRich Cusick and Tribune's existing TV metadata team to grow this area of our business and will continue to operate out of its headquarters in Mumbai.
Tribune Digital Ventures (TDV) was launched in 2013 as a stand-alone unit of Tribune Company for creation, design, and development of digital products and services and extend the reach of its distribution platform. TDV operates Tribune Media Services (TMS), a premier provider of television and movie metadata.
Tribune is a media companies, operating businesses in broadcasting, publishing, and interactive and owns or operates 42 television stations, WGN America on national cable, the national multicast networks Antenna TV and THIS TV, Tribune Studios and Chicago'sWGN-AM.
Edelweiss Capital Limited (I-Bank) was the sole advisor serving as the Investment Bank for What's-ON