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SRK part of BAG Glamour

SRK to buy10% pie in Bag Glamour

SRK to buy10% pie in Bag Glamour
Aminah Sheikh / Mumbai
July 27, 2007

Bollywood star Shah Rukh Khan and wife Gauri Khan will buy 10 per cent stake in BAG Glamour, the new entity promoted by Anuradha Prasad. BAG Glamour, which will soon launch channels in the entertainment and lifestyle space, is part of the the parent company BAG Films & Media Ltd.

Sources confirmed the development adding that the actor and his spouse will hold the stake in their personal capacity.

The other investors in BAG Glamour will be India Bulls’ promoter Sameer Gehlaut, who will buy 15 per cent, Kolkata-based private investor High Growth will have 15 per cent, and the remaining 60 per cent will be held by the parent company and promoters such as Anuradha Prasad, Rajiv Shukla among others. When contacted, Chairman and Managing Director, BAG Films & Media, Anuradha Prasad declined to comment.

Khan has been dabbling in the entertainment space though this is the first time that he will invest in a TV channel and production house. Earlier, Khan had floated film production house Dreamz Unlimited with actor Juhi Chawla. He also launched Red Chillies Entertainment, a film production house in 2004.

BAG Films & Media, apart from producing television shows, also operates in the radio space, under the brand name Radio Dhamaal, via a separate entity BAG Infotainment.

The company has announced plans to diversify into television broadcasting and will launch channels in the non-news and news segment. While the non-news channels will operate under BAG Glamour, the news channels will come under BAG Newsline. The channels are expected to go on air by 2008.