on the heels of parting ways with Balaji Telefilms, STAR has announced another JV, for the silver screen this time.
STAR has partnered with Twentieth Century Fox to form Fox STAR Studios. The 50:50 JV will focus on producing, distributing and marketing Asian language films. Beginning with operations in India, Fox Star Studios plans to expand to China and Southeast Asia later.
In an official communiqué, Jim Gianopoulos, co-chairman, Fox Filmed Entertainment, said, "The association is a great opportunity for both the parties to create a strong presence in the Asian film industry. The infrastructure provided by Fox, along with STAR's unmatched broadcasting and marketing network, will give Fox STAR Studios a distinctive edge in the business of film production and distribution."
To begin with, Fox STAR Studios will produce Bollywood and Indian regional films. Plans are afoot to establish a theatrical distribution system across the nation, adding to the home entertainment and digital media platforms in India. On the distribution front, the new entity will leverage Fox Theatrical Network's global distribution network, spread across 44 countries.
In an official communiqué, Singh explains, "Our vision is to become a one-stop shop, encompassing film acquisition, development, marketing, production and distribution in the country. Attempts will be made to make films that reflect the changing India. Besides producing Bollywood films, stress will be on innovating… new-emerging genres."
Uday Shankar, CEO, STAR India, believes that the JV will complete STAR India's entertainment portfolio. With STAR's record of churning out entertaining family fare and Fox's legendary expertise in filmmaking and distribution, the association will redefine the film viewing experience for India, creating higher level skill sets in all aspects of filmmaking and distribution.
Shankar was confident of the fact that with 18 channels in its bouquet, STAR would add unique value while marketing the movies made by Fox STAR Studios, India.
For the record, Twentieth Century Fox is one of the world's largest producers and distributors of motion pictures. STAR is a leading media and entertainment company in Asia, broadcasting over 60 television services in 10 languages across 53 Asian countries, reaching out to more than 300 million viewers.