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B Saikumar joins Ronnie Screwvala to launch digital media venture

Ajay Chacko roped in as CEO and co-founder. The company intends to offer multi-­genre, multi-­lingual content across video, audio, text and other traditional and new-age art forms

B Saikumar joins Ronnie Screwvala to launch digital media venture

Ajay Chacko roped in as CEO and co-founder. The company intends to offer multi-­genre, multi-­lingual content across video, audio, text and other traditional and new-age art forms

BestMediaInfo Bureau | Mumbai | January 21, 2015

(L-R)-Ronnie-Screwvala,-B-Sai-Kumar-and-Ajay-Chacko (L-R) Ronnie Screwvala, B Sai Kumar and Ajay Chacko

Ronnie Screwvala and B Saikumar, former Group CEO of Network 18, have come together to launch a digital media company. Based out of Mumbai, in its first phase the venture aims at launching a digital brand which will offer multi-genre, multi-lingual content across video, audio, text and other traditional and new age art forms. The venture, with Sai as Managing Director, has roped in former COO of Network18, Ajay Chacko, as CEO.

The investment envisaged is up to Rs 150 crore in two phases. While the first phase would be largely domestic?focused, the platform will evaluate new geographies and verticals in its second and subsequent phases. A statement from the company noted that it has also begun a global search for talent in creative, product and technology functions across entertainment, current affairs and infotainment spaces.

The world is witnessing a range of digital-first media brands, and companies are generating tremendous stickiness, impact and value across markets. This venture aims at becoming a large, valuable Indian digital media company with a footprint across geographies and content spaces, informed Saikumar.

Over the last two and a half decades Screwvala has built some of the country’s most valuable media businesses and has been an entrepreneur across many verticals and genres; from cable to broadcast, from animation and gaming to motion pictures. Last year, he sold his erstwhile UTV Group to The Walt Disney Company.

Saikumar has been credited with taking Network18 from a single channel company to a $1 billion plus enterprise. As Group CEO of Network18, he oversaw the group’s wide range of interests from news and entertainment broadcast to distribution and digital content and commerce. Saikumar also served on the boards of Viacom18, Indiacast, A&E18 and bookmyshow.com among others. Prior to Network18, Saikumar had worked with the Times Group.

Chacko completed a decade-long stint at Network18 and was the COO of the group in his last held role. He played a pivotal role in the launch of many of the group’s flagship brands across print, TV and digital. He was also responsible for consolidating the group’s financial and strategic position and providing direction to the network's digital content assets. Prior to Network 18, Chacko had worked with IL&FS, Sharekhan.com as part of its start-up team, and Indian Express Group.

info@bestmediainfo.com

Info@BestMediaInfo.com

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