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Star acquires Screen from the Indian Express Group
The periodical will now become a digital entity.
Star India and the Indian Express Group have announced a deal under which the former will acquire the Screen brand from the Indian Express Group. Founded in 1951, Screen manages a popular periodical focussed on the film and entertainment industry, and also owns a film awards franchise. As part of the transaction, Star will get exclusive ownership of the 'Screen' brand franchise, including all archival material and transfer of key employees.
"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," says Viveck Goenka, chairman and managing director, Indian Express Group.
Speaking about the transaction, George Varghese, CEO, Indian Express, says, "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.
Star has built one of India's largest media and entertainment organisations, reaching over 700 million viewers in India and across the globe, every week, through nearly 40 channels broadcast in seven languages. Star has scaled its multi-screen presence, with hotstar emerging as the most preferred destination for sports and entertainment online.
The network's entertainment channel portfolio includes Star Gold, Channel V, Star World, Star Movies, Star Utsav, Life OK, Movies OK and Star Plus. It has presence in regional broadcasting as well, through a bouquet of affiliate channels which includes Star Jalsha, Jalsha Movies, Star Pravah, Asianet, Asianet Plus, Suvarna, Suvarna Plus and Vijay.