The Hindu : Business : TV18 JV with Viacom

Online edition of India's National Newspaper
Wednesday, May 23, 2007
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TV18 JV with Viacom

Staff Correspondent

The arrangement will include media content across brands

— Photo: Paul Noronha

ENTERTAINMENT ALL THE WAY: Raghav Bahi (left), Managing Director, TV18 Group, with Philippe E. Dauman, President & CEO, Viacom Inc., at a press conference in Mumbai on Tuesday.

MUMBAI: Viacom of the U.S. and the TV18 group have announced the creation of a 50:50 joint venture operation, Viacom-18, in India. The strategic alliance will include television, film and digital media content across numerous brands to build India's leading multi-platform entertainment company, according to a joint statement. Viacom is a leading global entertainment content company with prominent brands like MTV Networks, Nickelodeon and Spike TV.

The partnership was announced on Tuesday at a press conference here by Philippe Dauman, President and CEO, Viacom, and Raghav Bahl, Managing Director of the TV18 group. As part of the agreement, Viacom-18 will launch a new Hindi-language general entertainment cable and satellite channel in India within the next year. It will include original, locally produced programming and acquisitions. MTV Networks (MTVN), a unit of Viacom, will contribute its successful local networks, MTV, Vh1 and Nickelodeon India, to the joint venture. Viacom-18 will launch a further suite of targeted channels from the MTVN portfolio and new brands.

Hindi films

Digital media content across all of the television brands will be developed and distributed to Indian consumers. The joint venture will syndicate MTVN programming and newly produced content.

The TV18 group will contribute to the joint venture its Motion Pictures division operation, which produces, acquires and distributes Hindi-language films. Additional cooperation in the Indian market beyond this alliance includes joint ownership of the management company for The Indian Film Company, which is in the process of being listed on the Alternative Investment Market (AIM) of the London Stock Exchange. In the coming months, Viacom's Paramount Pictures and DreamWorks studios will explore additional opportunities for collaboration with Viacom-18.

Subject to regulatory approvals, the TV18 group proposes to eventually house its investment in this joint venture through its general broadcast subsidiary, GBN.

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