Billionaire investor George Soros has bought 3 percent of Reliance Entertainment for $100 million, a spokesman for the Indian company said, the latest sign of increasing investor interest in Indian entertainment firms.
"The purchase values the company at $3 billion," he said.
Reliance Entertainment, owned by the diversified Anil Dhirubhai Ambani Group, has interests in Internet and new media, film production and distribution and television broadcasting.
The ADAG Group also has a majority stake in production and distribution company Adlabs Films, and plans to launch Internet Protocol TV and a satellite broadcast service.
India has the world's third-biggest cable TV market, which is forecast to become Asia's most lucrative pay TV market by 2015.
Broadcaster New Delhi Television recently sold 26 percent in a unit to NBC Universal for $150 million.
Walt Disney has a minority stake in broadcaster UTV Software Communications, while Time Warner's Turner International and Viacom have ventures with Indian firms for entertainment channels.