Set India Private Limited has been renamed Multi Screen Media Private Limited.
Set India CEO Kunal Dasgupta confirmed the development to indtiger.com, saying the new name was reflective of the company’s evolution from a pure television broadcaster to a multimedia one.
Going forward, the company is looking to actively invest in mobile, movies, internet, and out of home screens, Dasgupta stated.
Queried as to whether the change of name was an indication that parent Sony Pictures Entertainment was distancing the Sony brand name from its Indian broadcast entity, Dasgupta asserted this wasn’t the case.
The long-serving Set India CEO was at pains to point out that after the recent unveiling of its new network packaging, flagship channel SET in fact has Sony even more prominently displayed as part of the onscreen logo bug than was earlier the case.
The Sony board cleared the change of name late last month and it was internally communicated two weeks ago. In the lead-up to the name change, Sony had also booked the domain name multiscreenmedia.com.
As per its filing with the Registrar of Companies, Multi Screen Media has an authorized capital of Rs 100 million and a paid up capital of Rs 66,779,240.
According to the information available, the shareholding in SET India currently is as follows: Sony Pictures Entertainment, USA holds a 61 per cent equity stake, while 31 per cent is held by Indian partners and NRIs, and 8 per cent by Capital International, Japan.