Former Star India Chairman Uday Shankar takes 51% stake in James Murdoch's Lupa India
Investment company Lupa India is set up by James Murdoch, former chief executive officer of 21st Century Fox, with a focus on media, education and healthcare, said media reports
The former chairman of Star India and president of Walt Disney Asia Pacific, Uday Shankar has reportedly taken a 51% stake in investment company Lupa India, as per the media reports.
Lupa Systems is a private holding company founded in 2019 by James Murdoch, the former CEO of 21st Century Fox, Sky plc, and STAR. The company has offices in New York and Mumbai. Lupa focuses on companies within the technology and media industries, impact-driven companies focused on environmental sustainability, and emerging markets, particularly within the Indo-Pacific region.
According to the reports, James Murdoch’s Lupa has already set up a team of investments professional, and most of these professionals are believed to be former colleagues of Shankar.
Earlier this year, Lupa Systems CEO James Murdoch and Uday Shankar, the former Chairman and CEO of Star India and President of Walt Disney Asia Pacific, announced that they were forming a new venture to explore technology and media opportunities in emerging markets.
Uday Shankar left Disney on December 31, 2020, and announced that he will be moving to an entrepreneurial career where, with funding from global investors, he would support founders to create transformational solutions. A journalist by training, Uday led and transformed television: he took over as CEO of Star India in 2007 and transformed the company's broadcast operations, and made Star India one of the biggest media and entertainment companies in Asia. He subsequently led 21st Century Fox's operations throughout Asia. Uday was appointed President of Walt Disney Asia Pacific when the Walt Disney Company acquired 21st Century Fox. Under his leadership, Star launched Hotstar – now Disney+ Hotstar –one of the most successful streaming services globally. Uday currently serves as the President of the Federation of Indian Chamber of Commerce & Industry (FICCI).
The two have worked together building Star India into the region's largest media company, prior to its sale as part of the merger of 21st Century Fox and The Walt Disney Company.
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