Network18 ties up with A&E of US for popular channels
04 Aug 2010
Network18 Group and US-based A&E Television Networks have formed a joint venture company, AETN-18 India. Based in Mumbai, the JV, of which Network18 Group holds 51 per cent while AETN has 49 per cent, will launch History, Bio and other popular AETN channels in the Indian market.
This venture will eventually be owned by AETN and 'New TV18' (the broadcasting business company recently announced restructuring). "Timelines for the launch of various channels will be announced shortly and all new business operations are subject to regulatory approval," said a company statement.
BMR Advisors acted as transaction advisors to Network18 Group.
AETN is the fastest growing pay television company in the United States operating two of the top five Pay TV networks - History and A&E, and the number one women's network, Lifetime. In addition, History is the number one factual channel in the US since 2009.
Raghav Bahl, founder and Editor, network18 said, ''We are excited to partner with AETN, one of the world's most innovative media organisations. AETN-18 will endeavor to mirror the success that channels like History have had in the US. I believe the time is right for India to have a vibrant and dynamic factual entertainment space, led by channels like History.''
''I am delighted about the launch of our new joint venture with Network18 in India. India presents us with strong growth opportunities for AETN's global portfolio strategy. We believe that in Network18, we've found the best partner for launching AETN's brands. We look forward to a long and successful partnership in this important market,'' said Abbe Raven, president and chief executive officer, AETN.
Haresh Chawla, group chief executive for Network18 added, ''We hope to be able to create a unique position in the Indian market and become the number one player in the factual entertainment space.
I am confident that AETN's programming prowess will be matched with Network18's skill sets in brand building, distribution and monetisation. Greater addressability and growth in the pay TV market will help us capitalise on this significant, but relatively under-serviced space. AETN-18 will endeavour to redefine the factual entertainment genre in India.''
