A&E Television Networks, LLC (AETN) and Network18 Group have reached an agreement to form a joint venture, AETN-18 India.
The joint venture (Network18 Group (51%) and AETN (49%)) will be based in Mumbai. This venture will be owned by AETN and ‘New TV18’ eventually (the broadcasting business company post recently announced restructuring). Timelines for the launch of various channels will be announced shortly and all new business operations are subject to regulatory approval. BMR Advisors acted as transaction advisors to Network18 Group.
AETN-18 will launch HISTORY, BIO and other popular AETN channels in the Indian market. Headquartered in New York, AETN is a global media company whose brand portfolio includes A&E Network, HISTORY, Lifetime, BIO, Crime & Investigation Network, Military History, Lifetime Movie Network, History International, History en espanol and Lifetime Real Women. Network18 group owns and operates a bouquet of TV channels in India, including CNBC-TV18, CNBC AWAAZ, CNN-IBN, IBN 7, IBN-Lokmat, Colors, MTV, VH1, Nick, HomeShop18. The company recently forayed into the TV distribution space through a distribution alliance with the Sun Group. The new entity, Sun18, will be the first truly pan-India distribution company and is slated to emerge as one of the country’s largest distribution entities.
“I am delighted about the launch of our new joint venture with Network18 in India,” said Abbe Raven, president and chief executive officer, AETN. “India presents us with strong growth opportunities for AETN’s global portfolio strategy. We believe that in Network18, we’ve found the best partner for launching AETN’s brands. We look forward to a long and successful partnership in this important market.”
Raghav Bahl, founder and editor, Network18, said “We are excited to partner with AETN, one of the world’s most innovative media organizations. AETN-18 will endeavor to mirror the success that channels like HISTORY have had in the US. I believe the time is right for India to have a vibrant and dynamic factual entertainment space, led by channels like HISTORY.”
“We believe that industry leader Network18’s extensive infrastructure and local market expertise matched with AETN’s acclaimed brands and content will create a formidable media presence in India,” said Steve Ronson, executive vice president, Enterprises AETN.
Haresh Chawla, group chief executive officer, Network18, added, “We hope to be able to create a unique position in the Indian market and become the number one player in the factual entertainment space. I am confident that AETN’s programming prowess will be matched with Network18’s skill sets in brand building, distribution and monetization. Greater addressability and growth in the pay TV market will help us capitalize on this significant, but relatively ‘under-serviced’ space. AETN-18 will endeavor to redefine the factual entertainment genre in India.”
