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Future Media stakes likely to be offloaded

19
Feb '07

MUMBAI:

Retail major, Future Group (Pantaloon Retail India Ltd) is likely to sell a minority stake in Future Media, the media company of the group, by June next fiscal.

In order to carryout massive expansion plans, discussions are underway with private equity funds to sell a certain stake in Future Media, sources said.

Future Group recently floated Future Media for creating properties across media.

Company wants to tap the media division to provide its brands a medium to communicate to consumers, Industry experts said.

Future Media is generating business by innovative strategies of using live models for a news channel, branded bags for radio station, kiosks etc.

Top-level appointments have been made to strengthen media subsidiary with Hemant Shah as Chief Operating Officer of Future Media, Anup Kotekar and V Jaishankar as Business Directors.

Biyani has aggressive With plans to create 25 different formats by end of the year company needs huge investments to run these formats and as a strategy it wants to dilute stake in an existing unit, analysts informed.

Future Group presenty has formats such as Big Bazaar, Central, Planet Sports, Fashion Station, Manipal Cure and CareCollection, E-Zone (consumer electronics), Depot (books, music, gifts and stationary), aLL (fashion apparel for plus-size individuals), Shoe Factory (footwear) and Blue Sky (fashion accessories).

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