Israeli based Telenovela production outfit Dori Media Group has increased its control over Darset Productions by acquiring a 75% stake in Paran Productions for $1.6m. Paran and DMG previously shared ownership of Darset but the new deal gives DMG an 87.5% stake.
Darset has a 1000-hour telenovela library and is expected to produce about 300 hours of programming in 2008. Paran will continue producing miniseries and films. DMG CEO, Nadav Palti, told TBIvision: "Paran was a bonus but maybe a very good bonus. We have just opened up offices in Miami and there is a strong demand for miniseries in America."
Palti added: "I have wanted to buy Darset for three years. It is a great telenovela production company. I had to buy a controlling stake in Paran to make the deal happen but they also produce quality programming."
The deal fits with DMG’s strategy to control programming from production through to distribution. Palti said that now Dori has its own dubbing operation it can reversion and sell Darset’s output around the world.