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Zee and Turner form distribution joint venture
Zee Telefilms Limited (Zee) and Turner International (India) Private Limited (Turner), an AOL Time Warner Company, on Thursday announced an agreement to form a joint venture company, Zee Turner Private Limited. Zee Turner Private Limited will manage distribution and trade marketing for a bouquet of channels of the two companies and third party channels in India and South Asia.
Zee Telefilms Limited (Zee) and Turner International (India) Private Limited (Turner), an AOL Time Warner Company, on Thursday announced an agreement to form a joint venture company, Zee Turner Private Limited. Zee Turner Private Limited will manage distribution and trade marketing for a bouquet of channels of the two companies and third party channels in India and South Asia.
The JV partners are currently seeking all relevant regulatory approvals. Zee will hold 74% equity and Turner 26% in the joint venture. The company will be based in New Delhi. The Board of Directors will comprise three directors nominated by Zee and one by Turner. Mr D P Naganand, Director of Zee Telefilms and Group Head, Access Business for Zee, will be Chairman. The joint venture will be managed by a team of Turner and Zee executives. Anshuman Mishra will be Managing Director of the joint venture (and will continue to head up Turner), with Sunil Khanna as the CEO, Paresh Karia as the CFO and Siddharth Jain as the Senior Vice President, Distribution.
Mr Subhash Chandra, Chairman, Zee Telefilms expressed his happiness about the formation of the joint venture with Turner, a subsidiary of AOL Time Warner, the world’s largest media company and said, “The new joint venture is in keeping with Zee’s philosophy of associating with world class organisation to deliver better value to its customers and all other stake holders. The joint venture leverages both partner’s respective brands and will enhance each party’s distribution strength. Zee will continue to explore other strategic cooperation and investment opportunities with AOL Time Warner.”
Turner International (India) Private Limited is the subsidiary of AOL Time Warner responsible for the distribution , ad sales and marketing of its news and entertainment services in India and South Asia. Bureau Report
The JV partners are currently seeking all relevant regulatory approvals. Zee will hold 74% equity and Turner 26% in the joint venture. The company will be based in New Delhi. The Board of Directors will comprise three directors nominated by Zee and one by Turner. Mr D P Naganand, Director of Zee Telefilms and Group Head, Access Business for Zee, will be Chairman. The joint venture will be managed by a team of Turner and Zee executives. Anshuman Mishra will be Managing Director of the joint venture (and will continue to head up Turner), with Sunil Khanna as the CEO, Paresh Karia as the CFO and Siddharth Jain as the Senior Vice President, Distribution.
Mr Subhash Chandra, Chairman, Zee Telefilms expressed his happiness about the formation of the joint venture with Turner, a subsidiary of AOL Time Warner, the world’s largest media company and said, “The new joint venture is in keeping with Zee’s philosophy of associating with world class organisation to deliver better value to its customers and all other stake holders. The joint venture leverages both partner’s respective brands and will enhance each party’s distribution strength. Zee will continue to explore other strategic cooperation and investment opportunities with AOL Time Warner.”
Turner International (India) Private Limited is the subsidiary of AOL Time Warner responsible for the distribution , ad sales and marketing of its news and entertainment services in India and South Asia. Bureau Report