Balaji Telefilms, Star inks JV for regional channels

New Delhi, Apr 19 (UNI) Balaji Telefilms Ltd and Star Group today announced the formation of a joint venture to create a regional language television channel, targeting the fast-growing market in south India.

''We are excited as this deal will strengthen our relationship with Star. We believe that the expertise and resources of the two companies will enable creating leading regional language TV network in the country,'' Balaji Telefilms Chairman Jeetendra Kapoor said.

The joint venture, 51 per cent owned by Star and 49 per cent by the company, will have its headquarters in Chennai.

Under the JV, the two companies will combine their resources to infuse 'Vijay' with the company content.

It also aim to launch a Telugu channel by the last quarter of the year. Channels in key regional languages, Kannada, Malayalam, will be launched within next two to three years, a company statement said.

Star, the leading Hindi television network, will be responsible for the operations of the joint venture channels.

Balaji, which has been creating top-rated shows in various languages for the past eight years, will produce regional language shows exclusively for the joint venture.

This new partnership also helps realise our ambitions to go upstream by taking a stake in the broadcast business, Mr Kapoor said.

UNI