Lionsgate sells Lionsgate Play in South, SE Asia to Rohit Jain in up to $30 million deal

Content studio Lionsgate has sold its over-the-top (OTT) streaming business, Lionsgate Play, in South Asia and Southeast Asia to Rohit Jain at an estimated deal value of up to $30 million, people aware of the terms told ET. A Lionsgate veteran in Asia, Jain built the platform from the ground up in one of the world’s most competitive streaming markets.

Jain, President of Lionsgate Play Asia, will take full ownership and exit Lionsgate as part of the transaction.