Network 18, Viacom form new JV with Walt Disney in India
TNI Bureau: India’s Network 18 group along with its US joint venture Viacom Inc will increase distribution venture business in India and offer TV channels in India in partnership with Walt Disney Co. While IndiaCast will own its 74% partnership, rest will be owned by Disney’s India unit, Disney UTV.
IndiaCast is the equal venture between Netwrok 18’s broadcasting and films division TV18 Broadcast Ltd and Viacom18. Viacom18 is a joint venture between Viacom and Network 18 Media & Investments Ltd.
Both IndiaCast and Disney UTV will be involved in business offering 35 channels across cable, direct-to-home (DTH) and Headend in the sky or HITS platforms.
Network 18 in a statement said that IndiaCast will continue to manage its international business and new media distribution for a few channels separately. The partnership will work on different strategies to strengthen its distribution venture business in India to highest level.
However, Network 18 did not give any details of financial deal. The new venture will be headed by Anuj Gandhi, the chief executive of IndiaCast.