Sony Entertainment Television (SET) and Discovery Communications India has announced the formation of their joint venture company. The equity structure of the new company, christened SET Discovery, has been finalised at 74:26, with Sony holding the majority stake.
Shantonu Aditya, head (distribution) of SET India, will be in-charge of the day-to-day operations of SET Discovery, which will distribute both channels and will include their ground cable and affiliate businesses.
A 4-member management team of SET Discovery has been formed under the leadership of Kunal Dasgupta, chief executive of SET India. The other members are Martha Eberts and Michael March from SET India and Deepak Shourie from Discovery.
The One Alliance brand currently consists of a bouquet of six channels, which include Sony, Sony Max, AXN, Discovery, CNBC and Animal Planet, for Rs 40 per subscriber. The company is further planning to expand the bouquet to include four more channels. According to company, Sony Entertainment currently reaches 2.9 crore households, while Discovery reaches 2.1 crore.