Hinduja Ventures is restructuring its media vertical in order to enhance synergy across its various media initiatives. To support this initiative, Rs 300 crore is being invested in the media business.
Ravi Mansukhani, Managing Director of HVL’s flagship cable company, IndusInd Media & Communications (IMCL), has expressed his desire to relinquish his services. The Board of Directors in their meeting held on January 31, 2014, accepted his request and thanked him for his services to the company. To continue the emphasis on taking advantage of opportunities presented by digitisation in the cable business, the Board has appointed Tony D’silva, currently President, Hinduja Ventures, as Managing Director and CEO of IMCL with immediate effect and also approved certain other key management changes.
In order to consolidate all media initiatives of HVL, D’silva is being re-designated as Group CEO – Media of Hinduja Ventures. As Group CEO – Media and MD & CEO of IMCL, D’silva will hold the responsibility to restructure entire media business and value creation.
D’silva has been associated with Hinduja Ventures for the last one-and-a-half years and comes with more than four decades of rich experience spread across media, FMCG and pharma sectors, holding senior positions. He began his media foray in 1992 as CEO of Modi Entertainment and in 1997 helped Zee TV launch its international business in the UK. Upon his return to India in 2001, he joined STAR as Executive Vice President and consolidated its TV business. He joined the Sun Group in 2007 to set up Sun Direct DTH as CEO, and then took over as the Group CEO, overseeing its entire media business including TV, print and radio.