MxMIndia

Tag: A. P. Parigi

  • With this acquisition, Viacom Inc. will hold 50 per cent of Prism TV and the remaining 50 per cent interest will continue to be owned by the Network18 Group

    Viacom acquires stake in Indian regional networks

    By A Correspondent

     

    Viacom Inc. (Nasdaq: VIAB, VIA), announced that it has acquired a 50 per cent interest in Prism TV Private Limited for 9.4 bn Rupees (approximately $153M USD). Prism TV owns and operates regional entertainment channels in India, including ETV Marathi, ETV Kannada, ETV Bangla, ETV Oriya and ETV Gujarati, all of which were recently rebranded under the ‘COLORS’ umbrella.

     

    The transaction was completed between Nickelodeon Asia Holdings Pte Ltd., a wholly owned subsidiary of Viacom Inc., and Shinano Retail Private Limited, a company effectively 100 per cent owned by Reliance Industrial Investments and Holdings Limited, a wholly owned subsidiary of Reliance Industries Limited. The parties received clearance from India’s Foreign Investment Promotion Board earlier this month.

     

    With this acquisition, Viacom Inc. will hold 50 per cent of Prism TV and the remaining 50 per cent interest will continue to be owned by the Network18 Group, Viacom’s partner in the Viacom18 joint venture.

     

    Philippe Dauman, President and CEO of Viacom, said: “We’re thrilled to be broadening our presence in one of the largest and fastest growing TV markets in the world, and deepening our already strong partnership with Network18.  This acquisition is an important step in building on our leadership position in India, a key market in Viacom’s international growth strategy.”

     

    A P Parigi, Group CEO Network18, said: “This acquisition by Viacom International Media Networks further strengthens the partnership with Network18 both in terms of depth and breadth. I am confident India will emerge as a global entertainment powerhouse in the year ahead.”

     

    Bob Bakish, President and CEO of Viacom International Media Networks, said: “Regional TV networks – and regional ad markets – are the next wave of growth in India.  Having a strong national and broad regional presence gives us a powerful platform to launch additional brands, and introduce successful franchises and formats across India.”

     

  • Sanjeev comes with over 26 years of experience across FMCG, fashion & retail sector

    Sanjeev Agrawal is CEO, Homeshop18

    By A Correspondent

     

    As part of Network18 strategy to strengthen its leadership and businesses, Network18 has appointed Sanjeev Agrawal as CEO – Homeshop 18, effective 4th May’ 2015. He will be based in Noida.

     

    Sanjeev comes with over 26 years of experience across FMCG, fashion & retail sector. He is an alumnus of the Institute of Technology, BHU (1982-86) and Indian Institute of Management, Lucknow (1987-89). He has held senior leadership positions at Future Value retail and Pantaloon Retail besides his FMCG stints at Balsara, Revlon, P&G, Godrej and HLL. In his last assignment Sanjeev was Managing Director at Skechers South Asia Private Limited.

     

    Sundeep Malhotra

    Sundeep Malhotra, Founder & CEO Homeshop18, will mentor Sanjeev over the next several months while Sundeep transitions to another entrepreneurial opportunity within or outside RIL retail. Under Sundeep’s leadership, Homeshop18 evolved from an idea to emerge as one of the fastest growing company and a force to reckon with in the Industry.

     

    HomeShop18 is India’s first comprehensive digital commerce player, selling credible brands to customers nationally and operating in a multimedia environment including Internet, TV and via mobile. SAIF Partners, G S Home Shopping of Korea and OCP Asia are the valued partners in Homeshop18.

     

    A. P. Parigi, Group CEO, Network18 said, “On behalf of the Board of the Homeshop18 and our valued partners SAIF, GS Home Shopping and OCP Asia – I wish to place on record the outstanding contributions made by Sundeep in establishing Homeshop18 as one of the India’s premium brands.

     

    I am delighted to welcome Sanjeev Agrawal to the Network18 Group. I wish him every success in his new role”.

     

    Sundeep Malhotra, Founder & CEO Homeshop18 said, “It’s been an amazing 9 year journey and I feel privileged and blessed to have got this opportunity to not just build an outstanding business but to have worked alongside some of the finest colleagues, talent , investors and associates, without whose help this journey would not have been possible. Homeshop18 is today the undisputed market leader in the TV shopping genre and I wish Sanjeev and the entire team all the very best for the future.“