Star Den and Zee Turner have finally spoken on the distribution joint venture between the two companies. The 50:50 JV is called Media Pro Enterprise and includes four companies – Zee Entertainment, STAR India, Turner India and DEN. Arun Kapoor (Essel Group) heads the JV as CEO and Gurjeev Singh (DEN) is the COO.
The landmark move marks the coming together of Star and Zee after nearly 12 years. The vision is to create efficiencies in the distribution sector, incentivise digitisation, address piracy issues and enable a content revolution in India.
Media Pro Enterprise would jointly aggregate and distribute channels licensed to Zee Turner and Star Den. As is known, Star Den Media Services Pvt Ltd is an existing 50:50 joint venture between Star India Pvt Ltd (SIPL) and Den Networks Ltd (DEN), while Zee Turner Ltd is an existing 74:26 joint venture between Zee Entertainment Enterprises Ltd (ZEEL) and Turner International India Pvt Ltd (TIIPL).
In a prepared statement, Punit Goenka, Managing Director & CEO, Zee Entertainment Enterprises Ltd, 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.”
Speaking at a press meet, Uday Shankar, CEO, STAR India, said, “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.”
Anshuman Misra, Managing Director, Turner International India, added, “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 digitisation of the cable industry.”
Sameer Manchanda, Chairman & Managing Director, DEN Networks Ltd, 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.”