Mumbai: After entering the movie production business, Raj Television Network Ltd on Wednesday said that it would also venture into movie distribution and has acquired exclusive rights of an upcoming Tamil movie.
As part of its potential external growth strategy, the company has ventured into movie distribution platform for distributing theatrical rights of movies from time to time, Raj Television Network said in a statement to the Bombay Stock Exchange (BSE).
The media firm has acquired exclusive distribution rights of upcoming Tamil movie—Kutty, starring Tamil star Dhanus—for some specified areas in Tamil Nadu.
The company has already entered the movie production business and has produced few movies from time to time.
Shares of Raj Television were trading at Rs62.55, higher by 0.40% in afternoon trade on the BSE.