VCCircle

ACK Media, a new Mumbai based entertainment and education company promoted by Shripal Morakhia of SSKI and Samir Patil, an ex-McKinsey exec, today announced that it has acquired children's media brands Amar Chitra Katha and Tinkle Magazine from India Book House (IBH). The company will launch with five offerings including Amar Chitra Katha Illustrated Classics, the Tinkle family of Magazines, The ACK Online Store, TinkleOnline.com and a set of proprietary characters, a release said. The financial terms of the acquisition are not disclosed.
ACK Media will focus on developing original content and products and making them available in multiple formats including print, DVDs, online services, games, TV and film, the release added. The company plans to push its retail offering of print and digital products in 500+ retail stores, besides introducing new online services such as an online store for the Indian diaspora as well as destination sites. It also plans to license and co-develop proprietary content for films, TV, mobile and other emerging formats.
Anant Pai, the creator of Amar Chitra Katha, remains the Editor Emeritus and Chief Story Teller for ACK Media whilst Samir Patil who is one of the co-founders, will take on as CEO. Patil was an Associate Partner at McKinsey & Company, New York.