Network 18-Viacom inks deal for Disney content
30 Jan 2013
India's Network 18 Media and Investments Ltd today said that along with its equal joint venture partner, US-based Viacom Inc, it has formed a partnership with Walt Disney Co to gather content and distribute TV channels.
The partnership will be 74-per cent owned by IndiaCast, the venture between Network 18's broadcasting and films arm TV18 Broadcast Ltd and Viacom18; and the rest will be held by Disney's India unit, Disney UTV.
Both IndiaCast and Disney UTV will move their domestic distribution businesses into the new venture, offering 35 channels across cable, direct-to-home and Headend in the sky or HITS platforms.
IndiaCast will continue to manage its international distribution business and new media distribution for a few channels separately, Network 18 said.
"There are some clear and unique synergies in this partnership," M K Anand, managing director for media networks at Disney UTV, said in a separate statement.
Network 18 didn't reveal any financial details of the deal but said that the new venture will be headed by Anuj Gandhi, the chief executive of IndiaCast.
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