The Chernin Group's CA Media has roped in Rajesh Kamat COO - Viacom18 Group and CEO - Colors, as its India CEO.
It may be recalled that it was in November 2010 when The Chernin Group, founded by former News Corp chief operating officer Peter Chernin, who is also the founder of Chernin Entertainment, launched CA Media. The company was put up to strategically build, manage and operate media, entertainment and technology businesses across the APAC. Chernin is the chairperson of the company and Paul Aiello, a founding shareholder of the company, is the chief executive officer.
Haresh Chawla, Group CEO - Viacom18, will now be directly handling the functions previously managed by Kamat who will continue to be with Viacom18 till June to ensure a seamless transition.
Chawla noted that Kamat has played a significant part in extending and establishing Viacom18's footprints in the GEC category. "As he now moves on to a new challenge in a new role and domain, I wish him luck for his continued success," he said in an official communiqué.
Chawla added, "Over the last few weeks, we've launched new and unique programming concepts on the channel and the results are showing. We're narrowing our gap with the leader every week and given our line-up in weeks to come, we expect the trend to continue."
Talking about his decision, Kamat commented, "My assignment with Viacom18 has been one of my most challenging, as well as gratifying periods of my professional career. With a team of extremely talented people and great management, we've created a brand (Colors) that I am going to be proud of, forever."
He further added, "The Indian media and entertainment domain is bustling with developments that portend an exciting future, and my next assignment with CA Media will give me the opportunity to create a blueprint for leveraging and monetising such opportunities."
With the initial focus on building local presence in India, China and Indonesia, CA Media aims to capitalise on the compelling growth characteristics of these markets.
CA Media plans to team with local entrepreneurs, strategic partners and financing sources to launch new enterprises, enhance the growth of businesses in their formative stages and selectively pursue later stage transactions.
The initial investors in CA Media also include Allen & Company LLC, Brookside Capital (an affiliate of Bain Capital), Gordon Crawford and Kimberly Querrey.
The Chernin Group manages, operates and invests in businesses in the media, entertainment and technology sectors. Chernin Entertainment produces feature films and television programmes.