QYOU Media Completes Sale of India Broadcast Channel to Oscar Media
QYOU Media has completed the sale of its India free-to-air channel Q TV to Oscar Media. Financial terms were not disclosed, while the company continues preparations for a proposed Chtrbox listing.
QYOU Media Inc. has completed the sale of its India free-to-air television channel, Q TV, to Oscar Media Pvt. Ltd. The transaction was carried out through QYOU Media India Pvt. Ltd., with financial terms not disclosed.
Oscar Media operates several television channels in India broadcasting in different local languages. QYOU Media said the completed transaction forms part of its previously announced shift away from its television operations and towards digital creator economy and social media marketing activities.
The company said its strategic efforts will continue through existing business units in India and North America, with future expansion included in its plans. No further financial details about the Q TV sale were provided.
QYOU Media operates through subsidiaries in India and the United States, producing, distributing and monetising content made by social media influencers and digital creators.
In India, its Chatterbox Technologies business, also known as Chtrbox, operates as an influencer marketing platform and agency. In the United States, the company creates content and supports marketing campaigns through creators and influencers for film studios, game publishers and brands.
QYOU Media also said it is continuing the process of seeking a public listing for Chtrbox on the BSE, formerly known as the Bombay Stock Exchange. The source does not state that the listing has been completed.
The company said the proposed listing would create the first publicly listed social media and influencer marketing business in India. It is expected to be led by Raj Mishra, identified by QYOU Media as the former Country Manager of TikTok India.
QYOU Media CEO and Co-Founder Curt Marvis described the transaction as a move away from the television business that helped establish the company in India. He said the change would allow QYOU Media to concentrate on social media, artificial intelligence and creator-led marketing, while also pointing to significant disruption in the global television sector.
QYOU Media said its millennial and Gen Z-focused content has reached more than one billion consumers. The company did not disclose the sale price, the other transaction terms or the financial impact of the disposal.
QYOU Media Inc., (TSXV: QYOU) (OTCQB: QYOUF), announced that its subsidiary, QYOU Media India Pvt. Ltd., completed the sale of its India free-to-air broadcast channel, “Q TV”, to Oscar Media Pvt. Ltd. Oscar Media operates multiple channels across India in a variety of local languages.
The terms of the transaction were not disclosed.
The company stated that the sale marks another step in executing its previously announced strategy of focusing resources and strategic efforts on segments within the global digital creator economy and social media marketing. These efforts are to be carried out through current business units in North America and India, with a goal of future expansion.
QYOU Media stated that it operates in India and the United States through subsidiaries that produce, distribute and monetise content created by social media influencers and digital content creators. Its India-based Chtrbox business is described as an influencer marketing and marketing platform and agency, while its United States activities involve creating content and marketing through creators and influencers for film studios, game publishers and brands.
The company stated that it continues to move ahead with the process to publicly list Chatterbox Technologies, also known as Chtrbox, on the BSE, formerly known as the Bombay Stock Exchange. The source does not state that the listing has been completed. The company said the listing would create the first publicly listed social media and influencer marketing business in India and would be led by Raj Mishra, former Country Manager of TikTok India.
QYOU Media CEO and Co-Founder Curt Marvis described the sale as a transition away from the television business and said it would allow the company to concentrate on social media, AI and creator-led marketing. He also said the television business had been marked by significant upheaval globally. These comments represent the company’s stated rationale; the source does not disclose the transaction’s financial impact.
QYOU Media stated that its content had reached more than one billion consumers. The source does not provide the sale price, other transaction terms or further financial details. It also states that neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of the release.