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IndiaCast, a joint venture between TV18 and Viacom18, has formed a strategic alliance with Disney UTV Group firm UGBL, for distribution of their television channels in India.
The new distribution venture is a step-down joint venture (JV) where IndiaCast will hold 74 per cent stake, while the remaining 26 per cent will be held by Disney UTV, TV18 said in a statement.
IndiaCast — a 50:50 joint venture — presently distributes TV18, Viacom18, A+E Networks and Eenadu channels.
“TV18’s effective economic interest in IndiaCast is 75 per cent and 56 per cent in the new JV,” the statement said.
Disney UTV and IndiaCast will move their domestic distribution business into the new venture, which will now distribute 35 channels from the TV18, Viacom18, Disney UTV and A+E Networks to cable, DTH and HITS platforms, the statement said.
IndiaCast will continue to manage its international distribution and new media distribution for TV18, Viacom18, A+E Networks —TV18 and Eenadu Channels.
Anuj Gandhi, CEO of IndiaCast will manage the yet to be named JV company, which will become operational post the necessary regulatory approvals.
“The Indian television industry is on the throes of transformation on the back of digitisation. The JV will help in shaping the future course of domestic distribution landscape,” Raghav Bahl, Managing Director, Network18 said.
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