Network 18 launches "Studio 18"

Television Eighteen India Ltd has announced about the following:

Network 18, the holding company of The TV 18 Group, launches Studio 18, a full spectrum Division that will mark the group’s entry in the motion picture business. The business spectrum of the company will involve acquisition, production, syndication and distribution of full-length feature films. Based in Mumbai, Studio 18 will have distribution offices in London and New York.

Studio 18 will be a new age motion picture company that believes in the growth potential of the Indian motion picture business. One of the key strengths of the company is its highly experienced team led by Sandeep Bhargava. He comes to Studio 18 after his highly successful stint at Sahara-One Motion Pictures, where he was responsible for some exemplary box office successes and building the company as a formidable player in the entertainment business.

Priti Shahani, regarded as one of the best marketing professionals in the entertainment business, will continue to lead the Marketing Division. Additionally, she will also be heading the Syndication & Distribution business for the company.

Ashoka Holla, one of the very few people with an in-depth understanding of the international business potential of Indian films, will head International Distribution and Acquisitions for the company. He has been responsible for successfully acquiring and distributing films in several overseas territories at UTV. He will also be responsible for launching and driving the Home Video label for Studio 18.

Chitra Subramanian, who has been instrumental in developing and producing several movies like Hanuman, Malamaal Weekly, and Corporate, will head the Production Division. She has in the past worked closely with filmmakers like Sanjay Leela Bhansali, Priyadarshan. Nagesh Kukunoor and Madhur Bhandarkar.

Deepti Chawla will head the creative function. She comes with a background in advertising and film-making and can be credited for effective packaging of films like Hanuman, Malamaal Weekly & Corporate.

Sibashish Sarkar has been appointed as CFO. Sibasish has spent 13 years across various FMCG and other industries, working with organizations like Godrej Sara Lee, Shaw Wallace & Hindustan Cables. The last 3 years have seen him in Entertainment companies like UTV & Percept Picture Company where he has played a strategic role in financial restructuring & been instrumental in setting systems and processes for the business.

Vandana Malik and Sanjay Ray Chadhuri, both Founding Shareholder-Directors of The TV18 Group, will act as creative advisors for Studio 18.

Speaking at the launch, Raghav Bahl, Managing Director of The TV 18 Group, said: ‘We are excited about our entry into India’s dynamic entertainment industry. Studio 18 is a key component in our strategy to transform Network 18 into a full-play media conglomerate, with a leadership position in motion pictures, news broadcasting and Internet portals´.

Source : Equity Bulls

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