UTV enters into Rs 200 cr JV with Malaysia based Astro

Mumbai, Nov 27 (UNI) UTV Software Communications Ltd today announced a joint venture with Malaysia-based Astro, focusing on Youth segment with an investment in the venture estimated at around Rs 200 crore.

Zarina Mehta, COO - Broadcasting, UTV said in a statement here, ''As much as 23 per cent of the viewership of cable and satellite television comes from the youth space which is currently very underserved by existing broadcast offerings. The Hungama TV experience has been enormously enriching and has reinforced our belief that innovative content, marketing and distribution are the key factors in determining success in Broadcasting. Our extensive learnings on Hungama TV will help us address the changing needs of the exciting 17-25 year target group.

The UTV team is currently understanding the need gaps in this segment and working on innovative ways to address them.

The new venture will operate across multiple platforms, including a television channel, gaming, mobile, licensing and merchandising, ground events and the Internet. The first television channel in Hindi is slated for launch in the second quarter of 2007, supported by a huge multimedia campaign and multi-city ground events. UTV is currently conducting extensive research on this target group as an input to its Programming and Marketing plans.

The plans include the launch of multiple channels across languages in India and Southeast Asia. UTV had earlier entered into a business co-operation arrangement with Astro to set up kids channels in Malaysia and Indonesia, which were launched on the Astro platform earlier this year, the UTV statement issued here today said.

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