afaqs!

Turner, Miditech team up to launch multiple GECs

By , agencyfaqs!, New Delhi | In Media Publishing | December 13, 2007
Turner will also acquire a minority stake in Miditech, including all the shares held earlier by ICICI Ventures

Turner & #BANNER1 & # International (Turner) and Alva Brothers (holding company), promoters of production house Miditech, have entered into a partnership to launch multiple general entertainment channels (GECs). To begin with, the joint venture company will launch a GEC in Hindi, to be followed by GECs in other Indian languages. All the channels will be targeted at urban Indians.

Turner will also acquire a minority stake in the production house, Miditech, including all the shares held earlier by ICICI Ventures. Turner International and Alva Brothers are currently seeking the necessary regulatory approvals.

Under the agreement, Turner and Alva Brothers will each own 50 per cent of the broadcasting venture. The venture will leverage Alva Brothers' expertise in producing entertainment content and Turner's distribution strengths. Meanwhile, Miditech will continue to be an independent content producer and produce content for other broadcasters as well.

Niret Alva, co-promoter of Alva Brothers, says, "The tieup will enable Miditech to independently widen the scope and depth of its creative services to broadcasters and related customers."

"The partnership with Alva Brothers further strengthens Turner's presence in one of the most dynamic media markets in the world. This is our first foray in the general entertainment space in India, and we are confident that this powerful partnership, drawing on the strengths of both partners, will deliver ground-breaking, quality programming to Indian audiences," says Anshuman Misra, managing director, Turner International India.