Reuters: Indian movie distributor Eros International Plc’s music unit entered into a publishing deal with EMI Group’s subsidiary to use each others’ distribution networks for growth in new markets.
London-based EMI, home to artists like Beyonce, James Blunt, Alicia Keys, Pink, Kanye West and Amy Winehouse, was bought by private-equity firm Terra Firma Capital Partners Ltd in 2007.
Eros, which gave last year’s hit “Love Aaj Kal” (Love: Now and Then), is a dominant player in the fragmented Indian entertainment market.
Eros Music Publishing would represent EMI Music Publishing’s catalogue of 1.3 million songs in India, the companies said in a statement on Thursday.
Under the agreement, EMI Music Publishing would represent Eros Music Publishing’s catalogue of Bollywood and South Asian composers on a worldwide basis, excluding India.
Shares of Eros were up 3.2% at 162 pence at 0831 GMT on the London Stock Exchange.