This just in: Eros International and Tamil film distributor Ayngaran have formed a joint venture - Ayngaran International - in which Eros has 51 percent controlling stake, and will be investing $33 million. The newly formed holding company is acquiring the business, goodwill and assets of Tamil film distributor Ayngaran, which distributes Tamil films across theatres, home video, television and new media, and has a library of over 600 Tamil films. Ayngaran had previously tied up with Eros for the distribution of “Sivaji-The Boss”. The deal also gives Eros access to 25 new films already in development.

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It had earlier been reported that Eros has a war chest of $250 million for content acquisitions.