Star India has announced a deal with the Indian Express Group to acquire the 'Screen' brand. Founded in 1951, Screen manages a periodical focused on the film and entertainment industry and also owns a film awards franchise. Star will get exclusive ownership of the the brand franchise including all archival material and transfer of key employees.
Uday Shankar, CEO, Star India, said, “The Screen acquisition will yield huge benefits for Star India and for hotstar our digital platform. We couldn’t be more excited. Screen is a strong and reputable franchise and gives us access to the entertainment editorial suite and the tinsel world, where news that shapes trends is made by film stars, directors and producers. The acquisition of Screen will allow us to strengthen and expand the content brand online while taking the awards platform to the next level. There are strong synergies and the combination of the quality content and awards franchise with Star’s presence across television and digital platforms is strategic and scalable.”
Viveck Goenka, chairman and MD, Indian Express Group, said, "We are delighted to enter into a transaction with Star India. Screen is one of the most reputed film and entertainment properties in the country. We have built this business with lot of passion and are confident that Star will nurture it and take it to greater heights."
George Varghese, CEO, Indian Express, added, “Screen is one of our leading properties on the entertainment side of the business. Our decision was driven by our belief in Star’s focus to grow this business, which we believe would translate into adding value for all stakeholders including employees.”
The acquisition will integrate the Screen awards property with Star, besides adding a consumer brand to the network's digital business. This acquisition will enable Star to expand the awards franchise and build the content brand to the next level by taking it online, informed a statement from the group.