Emerald Media, a pan-Asian platform established by private equity firm Kohlberg Kravis Roberts (KKR) to invest in the media and entertainment industries across Asia, has acquired a minority stake in YuppTV for US$50 million.
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YuppTV is an over-the-top video platform for South Asian content offering live TV, catch-up TV and films on demand in 14 languages.
KKR has committed US$300 million to Emerald Media, which is headed by Rajesh Kamat and Paul Aiello. Emerald Media is primarily focused on providing growth capital to media, entertainment and digital media companies and seeks to acquire control or significant minority positions in growing public and private media companies. It plans to spend US$15-75 million on each investment.
Nishith Desai Associates advised Emerald Media on the Indian aspects of the investment.
O’Melveny & Myers was Emerald Media’s international counsel. Gibson Dunn & Crutcher represented YuppTV.
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