Viacom Inc, US and the TV18 Group today announced the creation of a new 50:50 joint venture operation christened Viacom-18.
According to an official release issued by TV18 Group firm Network 18 Fincap to the BSE today, the strategic alliance will include television, film and digital media content across brands to build a multi-platform entertainment company.
As part of the agreement, Viacom-18 will launch a new Hindi-language general entertainment cable and satellite channel in the country within the next year. It will include original, locally produced programming and acquisitions. MTV Networks (MTVN), a unit of Viacom, will contribute its local networks, MTV, Vh1 and Nickelodeon India, to the joint venture. Viacom-18 will also launch a further suite of targeted channels in the future from the MTV Networks portfolio, as well as new brands, Digital media content across all the television brands will be developed and distributed to Indian consumers. The joint venture will also syndicate MTVN programming and newly produced content.
Read more in The Business Standard article.
Showing posts with label MTV. Show all posts
Showing posts with label MTV. Show all posts
Tuesday, May 22, 2007
Monday, May 21, 2007
TV18, Viacom set for JV
Media conglomerate TV18 group is likely to sign an agreement with US entertainment major Viacom to float a general entertainment joint venture.
The 50:50 venture is likely to be signed tomorrow during the visit of Viacom CEO and President Phillipe P Dauman, who is arriving in India late tonight, industry sources said.The JV is likely to invest about Rs 500 crore and Viacom's popular music channel MTV in India is understood to be transferred to the joint venture, the sources said.
The planned JV between Viacom, which has channels like VH1 and Nickledeon, and TV18, one of India's major electronic media groups running business news channels and a website, comes at a time when television entertainment sector in India is witnessing a churn.
Viacom also owns Country Music Television, Spike TV and more than 120 networks around the world. It is also one of the leading creators of programming and content having media platforms such as Paramount Pictures and Paramount Home Entertainment.
The 50:50 venture is likely to be signed tomorrow during the visit of Viacom CEO and President Phillipe P Dauman, who is arriving in India late tonight, industry sources said.The JV is likely to invest about Rs 500 crore and Viacom's popular music channel MTV in India is understood to be transferred to the joint venture, the sources said.
The planned JV between Viacom, which has channels like VH1 and Nickledeon, and TV18, one of India's major electronic media groups running business news channels and a website, comes at a time when television entertainment sector in India is witnessing a churn.
Viacom also owns Country Music Television, Spike TV and more than 120 networks around the world. It is also one of the leading creators of programming and content having media platforms such as Paramount Pictures and Paramount Home Entertainment.
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