The newly formed company Media Pro Enterprise India Pvt. Ltd. is a 50:50 Joint Venture between Zee Turner and Star Den.
BestMediaInfo Bureau | Delhi | May 26, 2011
Two of India’s leading content aggregation and distribution companies, Star Den Media Services Pvt. Ltd. and Zee Turner Ltd. today announced a joint venture to combine distribution of their respective channel bouquets in the country. In a landmark move, which marks the coming together of Star and Zee, India’s foremost media groups, this initiative would create great value for the entire industry. The vision is to create efficiencies in the distribution sector, incentivize digitization, address piracy issues and enable a content revolution in India.
The newly formed company Media Pro Enterprise India Pvt. Ltd. is a 50:50 Joint Venture between Zee Turner Ltd. and Star Den Media Services Private Ltd. and would jointly aggregate and distribute channels licensed to Zee Turner and Star Den. Media Pro will be headed by Arun Kapoor of Essel Group as CEO while Gurjeev Singh of Star Den will be the COO of the JV.
Star Den Media Services Pvt. Ltd. is an existing 50:50 joint venture between Star India Private Limited (SIPL) and Den Networks Limited (DEN) while Zee Turner Ltd. is an existing 74:26 joint venture between Zee Entertainment Enterprises Limited (ZEEL) and Turner International India Private Limited (TIIPL).
Punit Goenka, Managing Director & CEO, Zee Entertainment Enterprises Limitedsaid, “The Indian Television market is growing rapidly and provides ample opportunities for the JV Company to create value. The long-term vision of this venture is to pool together the resources of both the partners so as to address various anomalies of the present analog market, curb piracy, introduce transparency by accelerating pace of digitisation in India which would result in benefit to all the stakeholders in the value chain”
Speaking on the occasion Uday Shankar, CEO, Star India Private Limited said “This is a milestone initiative which will redefine the Indian distribution landscape and lead to a content revolution in the country by creating efficiencies in the value chain. In the past, there was a lack of shared perspective among broadcasters; the coming together of the two leaders will lead to a larger consensus around a growth blueprint for the Indian electronic media industry."
Anshuman Misra, Managing Director, Turner International India Pvt. Ltd. said, “Zee Turner is the country’s first bouquet of channels and marking the tenth year of our successful alliance with ZEEL, we are proud to be part of yet another path breaking distribution landmark that is created today. This is big win for the consumers as it gives them the choice of best of content, greater access and variety all under one bouquet and paves the way for faster digitization of the cable industry.”
Sameer Manchanda, Chairman & Managing Director, DEN Networks Limited said, “This is a historic step forward in the Indian television industry and will create a paradigm shift in pay distribution. The new JV gives a clear impetus to digitalisation and promotes transparency and addressability in the broadcasting distribution value chain. It also brings more channels, and greater choice and flexibility to the Indian consumer.”
Also read: Zee & Star reunion to form distribution JV