UTV founders tie up with Disney-ABC for news content
2 Apr, 2008
MUMBAI: The founder group of UTV Software Communictions has tied up with a unit of Walt Disney Co, to source ABC's news programming for its business news channel in India, it said on Wednesday.
UTVi, the English-language channel to be launched this month, ties up with Disney-ABC International Television (Asia-Pacific), the international TV distribution arm of Walt Disney Co, offering the former a global perspective and international programming.
UTV Software may take 20 percent stake in UTVi, Ronnie Screwvala, chief executive officer of UTV Software, said. UTVi will deliver content through television, web and mobile.
"At this point the promotor group, which is myself, has 100 percent holding," he said, "and UTV, subject to board approval, is looking at making an investment of about 20 percent. That's how the structure would look like going forward."
The approvals could come in 3-6 months, he added. Unilazer Ltd is the holding company of the promotor group. "Collaborating with UTVi is part of a global strategy for us. We want to distribute our news through new platforms, new technology...and above all to grow our audiences internationally. We've been looking at India for a while," Marcus Wilford, Vice President for International Digital, ABC News Intercontinental Inc. said.
In February, Walt Disney said it would raise its holding in UTV Software to 32.1 percent, the same level as UTV's founders. "For ABC news, it's a content alliance for us and that's something that we are concentrating on for now," Wilford said.
"We're clear its a long term content alliance," Screwvala said. The channel would be distributed through UTV, Screwvala said. Shares in UTV Software were trading up 0.5 percent at 763.05 rupees in a firm Mumbai market.
UTV founders tie up with Disney-ABC for news content- Media-Media / Entertainment -News By Industry-News-The Economic Times
2 Apr, 2008
MUMBAI: The founder group of UTV Software Communictions has tied up with a unit of Walt Disney Co, to source ABC's news programming for its business news channel in India, it said on Wednesday.
UTVi, the English-language channel to be launched this month, ties up with Disney-ABC International Television (Asia-Pacific), the international TV distribution arm of Walt Disney Co, offering the former a global perspective and international programming.
UTV Software may take 20 percent stake in UTVi, Ronnie Screwvala, chief executive officer of UTV Software, said. UTVi will deliver content through television, web and mobile.
"At this point the promotor group, which is myself, has 100 percent holding," he said, "and UTV, subject to board approval, is looking at making an investment of about 20 percent. That's how the structure would look like going forward."
The approvals could come in 3-6 months, he added. Unilazer Ltd is the holding company of the promotor group. "Collaborating with UTVi is part of a global strategy for us. We want to distribute our news through new platforms, new technology...and above all to grow our audiences internationally. We've been looking at India for a while," Marcus Wilford, Vice President for International Digital, ABC News Intercontinental Inc. said.
In February, Walt Disney said it would raise its holding in UTV Software to 32.1 percent, the same level as UTV's founders. "For ABC news, it's a content alliance for us and that's something that we are concentrating on for now," Wilford said.
"We're clear its a long term content alliance," Screwvala said. The channel would be distributed through UTV, Screwvala said. Shares in UTV Software were trading up 0.5 percent at 763.05 rupees in a firm Mumbai market.
UTV founders tie up with Disney-ABC for news content- Media-Media / Entertainment -News By Industry-News-The Economic Times