MUMBAI: Star Den Media Services and Zee Turner have inked 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, 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 is a 50:50 joint venture between Zee Turner and Star Den Media Services and would jointly aggregate and distribute channels licensed to Zee Turner and Star Den. Star Den Media Services 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).
Zee Entertainment Enterprises MD and CEO Punit Goenka said, “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.”
Star India CEO Uday Shankar added, “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."
Turner International India managing director Anshuman Misra 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.”
DEN Networks chairman & managing director Sameer Manchanda 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.”