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Tag: Uday Shankar

  • Uday Shankar, James Murdoch to acquire 40% stake in Viacom18: Reports

    Uday Shankar, James Murdoch to acquire 40% stake in Viacom18: Reports

    Mumbai: Lupa India, the investment company set up by former Star & Disney India chairman Uday Shankar and his boss from Star James Murdoch, is under negotiations for picking up a 40 per cent stake in Viacom 18, say media reports.

    Viacom 18, which runs television and digital entertainment channels, is currently a joint venture by Reliance Industries Ltd’s TV 18 (51 per cent) and Viacom CBS (49 per cent). With this deal, the latter is expected to turn into a minority player with 10 per cent stake, while RIL will retain its share.

    Lupa India is reportedly investing Rs 12,000 crore in Viacom18, the reports said. Most of the investment is said to be through the primary infusion of funds that will be used to build the company’s sports and entertainment verticals across both the broadcasting and digital businesses.

    According to reports, Uday Shankar will play a key role in the operations of Viacom 18 as the media conglomerate looks to enter the big league of sports business. He was instrumental in establishing Star as a formidable player in sports broadcasting. As the then CEO, he usurped the IPL rights from Sony in 2017 by paying double the amount (Rs 16,347 crore) for half the number of years. Star had also paid Rs 11,880 crore to win the bid for ICC tournaments for a period of eight years.

    With mounting consolidation in the media broadcasting sector, the focus of the industry has shifted to sports, especially cricket, and digital as a whole. While Viacom18’s sports portfolio today includes NBA (National Basketball Association), FIFA World Cup 2022, Italy’s popular football league Serie A, the Spanish football league LaLiga, ATP Masters (tennis) and Abu Dhabi T10 (cricket), winning the rights to the most popular cricketing event, the IPL rights, seems crucial for the broadcaster to be able to take on the Disney-Star and Zee-Sony juggernaut.

    In a bid to further build its sports vertical, in September, Viacom 18 appointed former Star Sports EVP Anil Jayraj as CEO-sports. The other two key appointments made in December were that of Siddharth Sharma (former Star Sports SVP) as EVP – sports and Mallika Petkar (former Disney+ Hotstar – head of SMB growth strategy) as SVP- sports.  

    Two major cricket broadcasting rights including the five-year broadcasting and digital rights for the Indian Premier League (IPL) and the eight-year contract for broadcasting and digital rights for various World Cup championships held by the International Cricket Council (ICC) will be auctioned this year.

  • Sanjiv Mehta named FICCI president for 2021-22

    Sanjiv Mehta named FICCI president for 2021-22

    Mumbai: The Federation of Indian Chambers of Commerce and Industry (FICCI) has announced that Hindustan Unilever Ltd (HUL) chairman and MD Sanjiv Mehta will succeed veteran media executive Uday Shankar as president of the association. The appointment will be effective on 18 December.
     
    Mehta is presently officiating as FICCI senior VP. He will be holding the office as president for the year 2021-22.
     
    “During his eight years at the helm, HUL’s market capitalisation has increased by over $55 billion making it one of the most valuable companies in the country. In this period, HUL has won several awards and recognitions including the prestigious Economic Times ‘Company of the Year’ and ‘Corporate Citizen of the Year’ awards, Business Standard’s ‘Company of the year’ award and the ‘Best Governed Company’ award by the Asian Centre for Corporate Governance and Sustainability,” said the industry body in a press statement.

    Besides leading HUL, Mehta is also a director on the board of the Indian School of Business, a member of the Breach Candy Hospital Trust, and the South Asia Advisory Board of Harvard Business School. He chairs Xynteo’s Vikaasa, a coalition of top Indian and MNC companies.

    Last year, Uday Shankar took over the top position in the industry body from Sangita Reddy who is Apollo Hospitals Group’s joint MD. At the time of his appointment, Shankar was The Walt Disney Company’s APAC president of operations and Star & Disney India chairman. He stepped down from his position at Walt Disney before holding office at FICCI.

  • James Murdoch & Uday Shankar go the SPAC way to fund new venture

    James Murdoch & Uday Shankar go the SPAC way to fund new venture

    KOLKATA: Former top Disney executive Uday Shankar and Lupa Systems founder and CEO James Murdoch are getting on the special purpose acquisition company (SPAC) rush. Months after joining forces for a new media and tech venture, the dynamic duo is looking to raise $345 million for the same.

    New York-based Seven Islands Inc, backed by Lupa Systems, has floated a blank check to raise the fund in a prospectus published on Tuesday. The company led by co-chairman Murdoch will focus on south and south-east Asia. India will be of particular focus for potential mergers.

    “While our efforts to identify a prospective target business will not necessarily be limited to a particular industry, sector or region, we intend to capitalise on our expertise in the media, entertainment, consumer technology, healthcare, and education industries in southeast and south Asia, with a particular focus on India,” the prospectus read.

    It further added: “Our acquisition and value creation strategy is to identify, acquire and, after our initial business combination, fundamentally enhance the value of a company in the public markets.”

    The one-time scion, Murdoch had exited his family’s media empire to found his own holding company Lupa Systems in 2019. Lupa entered India less than two years ago and has built a portfolio of technology investments. The company has offices in New York and Mumbai. He subsequently quit as a director of News Corp in July last year.

    Early this year, he announced his new venture along with former chairman & CEO of Star India and president of Walt Disney Company Asia Pacific Uday Shankar, to explore technology and media opportunities in emerging markets.

    “As connectivity continues to accelerate and expand across South Asia and the whole region, new opportunities for innovation, across consumer sectors, will multiply…I have every confidence that we can harness technology, enterprise, and tremendous talent to create a great business that is also great for society,” Murdoch had said at the time of the announcement.

    The duo worked together building Star India into the region’s largest media company, prior to its sale as part of the merger of 21st Century Fox and The Walt Disney Company. Shankar is also credited with consolidating Star’s sports broadcasting operations through 21st Century Fox’s acquisition of its joint venture with ESPN.

  • The future belongs to creator-led franchises: James Murdoch

    The future belongs to creator-led franchises: James Murdoch

    New Delhi: Creator-led franchises will be more powerful and more profitable in the years to come if they can take a little more risk and own their IPs, said James Murdoch former chief executive officer of 21st Century Fox and now the founder & CEO of private holding company Lupa Systems.

    As the streaming war rages on, Murdoch said it will put a lot of pressure on the content creators, leading to a huge demand for their services in near future. “The real question is what the creative output is going to look like in these conglomerates. There will be more value for creators in the future, not just in terms of selling for a high price and on a work for hire basis,” he detailed while delivering the keynote address at the annual APOS conference which began virtually on Tuesday.

    According to Murdoch, author ownership will become common, as more creators would not want to sell their work forever and a day.

    Talking about the Indian market, he noted that while some multinationals may be frustrated by bureaucracy or having the wrong local partners, ultimately India is a transparent marketplace, not very top-down but driven by ideas and entrepreneurs, and a consumer economy that is going to grow for a long time.

    “I see a lot of opportunities there, especially when you get into towns and villages where distribution revolution is most profound. Digital connectivity will open vast opportunities for society, logistics, education and it is going to be exciting for entrepreneurs as well as customers if done right,” he said. “The broader media sector is continuing to grow, but it is going to be a chaotic and tumultuous few years in terms of how it shapes in India. There is cutthroat competition in down streaming, complexities of legacy distributions, it is a very disaggregated production environment. But it will be interesting.”

    The one-time scion exited his family's media empire to found his own holding company Lupa Systems in 2019. Early this year, he announced his new venture along with former chairman & CEO of Star India and president of Walt Disney Company Asia Pacific Uday Shankar, to explore technology and media opportunities in emerging markets.

    Highlighting how several big media companies have been seeking to scale to compete in the streaming environment, Murdoch said, the question is not if it's right to scale, but how many of these companies will be more profitable than they were in the past. “Avoiding the loss of value is great, but near survival does not create value. The downstream competition is going to be intense for a long time whether it's Amazon or Netflix. If you try to compete with the mass market, you have to have an amazing user experience and lots of good programming,” he added.

    On founding Lupa Systems in 2019, Murdoch said he wanted to explore areas of long-term consequences. “The more exciting opportunity was to do something entrepreneurial with a small team, but also focus on future questions, especially with all legacy businesses adopting digital,” he shared.

    Run by the regional consultancy Media Partners Asia, the three-day conference kicked off on Tuesday, with the keynote address by Murdoch. Asia's influential media and entertainment industry conference is traditionally organised in Indonesia, but is being held virtually this year due to pandemic restrictions.

  • K Madhavan: From God’s own country to leading Walt Disney’s Indian mousehouse

    K Madhavan: From God’s own country to leading Walt Disney’s Indian mousehouse

    MUMBAI: When The Walt Disney Co international operations and direct-to-consumer chairman Rebecca Campbell was scouting for an executive to fill the big shoes of former Star India, Disney India and APAC head Uday Shankar, she did not have to look far. Though the announcement took some time a-coming, K Madhavan, country manager of Star & Disney India, was the obvious choice. As the overseer of the media conglomerate’s television and studios business in India, Madhavan had worked closely with Uday, until the latter departed in late 2020 to concentrate on an entrepreneurial venture with his former boss James Murdoch.

    An unassuming executive from Kerala, K Madhavan is known to be a hard core numbers man with an extremely razor sharp financial mind. He did well in academia as well; he holds a post graduate degree in commerce, and is a certified associate of the Indian Institute of Bankers. He cut his teeth as an investment banker, when he was roped in as a director to help turn around ailing Malayalam network Asianet in 1999. Within a year, he fortified his position and was elevated to MD & CEO of Asianet Communications.

    His keen understanding of what Malayalam viewers want to watch facilitated the growth of Asianet’s viewership and made it the favourite of those who live in God’s own country. The network was turned around and it soon became a dominant player in Kerala. He did this even as ownership of the network changed hands, more than once – from promoter Reji Menon to the-then BPL and now BJP top shot and venture financier Rajeev Chandrasekhar. In fact, K Madhavan, ended up owning a tidy piece of it as well, as he grew the network’s footprint in Kannada in concert with Chandrashekar as chairman.  

    Until, of course, it landed in the hands of News Corp supremo Rupert Murdoch’s Star TV in 2008. Star acquired a majority stake in Asianet’s general entertainment channels (separated from the news business) for a handsome $235 million and an assumption of $20 million in debt. Madhavan pocketed a neat sum for his efforts even as he was appointed as Star India’s south head in 2009.

    From thereon, there was no looking back. When Star India took control of Asianet, its portfolio consisted of Asianet and Asianet Plus (Malayalam GECs), Asianet Suvarna (a Kannada GEC) and Telugu channel Sitara. To that was added Star Vijay from the Star India network. Several other channels followed: Asianet Movies, Star Maa (through an acquisition of MAA Television network). Today, it has more than 13 pure play southern language channels, covering general entertainment, movies, in Malayalam, Kannada, Tamil and Telugu. Of course, Star India itself has many other regional language channels covering Marathi and Bengali. At the helm of this dizzying growth was Madhavan with Uday, and the Murdochs giving him total freedom. Observers today value the southern language business of Star at around $3 billion (valued at $1.33 billion in 2013 at the time of its acquisition by Star).

    When The Walt Disney Co acquired Twenty First Century Fox a couple of years ago for a massive $72 billion, along with it came all of its Indian assets including the southern language business. Uday, used to working in the maverick style of the Murdochs, quickly had K Madhavan hoicked as country manager of Star & Disney India, leading the media conglomerate’s television and studios business, while he was bumped upstairs to look after the APAC business and Hotstar directly.

    When Uday decided to turn entrepreneur in 2020, day to day operations were left in the hands of K Madhavan, who worked closely with Campbell at the worst of times when the media and entertainment industry – and  Star and Disney India – had to face lockdowns courtesy the pandemic and an acceleration towards digital video consumption. The way he steered the company impressed the Disney headquarters in Burbank.

    “A skilled leader with an extensive background in media, KM has taken our vast Star networks and local content production businesses to new heights,” said Campbell on his elevation. “I have seen first-hand how he has adeptly managed our India business, which has been and will continue to be critical to our global and regional strategy.”

    With the leadership issue for Star India and Disney India settled, it should lead to some clarity on the road ahead for the company which did an estimated top line in excess of $1.7 billion last year. K Madhavan will now be able to steer the network and make it future ready in a country where many homes have antiquated CRT TV sets, many have yet to buy one, while a small fraction have high-end 4K sets even as some are graduating to HD, and the young are increasingly consuming video content on their handsets.

    Like Uday, he has the respect and attention of Burbank, Disney's and Star India's senior leadership who hold his strategic decision making and vision for the group in high regard. Like Uday, he has an entrepreneural streak, combined with a strong systems approach which should bode well for him in an organisation which thrives because of its processes-driven environment. And of course his deep understanding of what the Indian video viewing consumer wants to watch. His success at Asianet bears testimony to that. The only difference: the canvas is larger and wider now and covers a swathe of demographics, languages and platforms, right from TV to movies to digital.

    To his advantage, K Madhavan has the track record and the wherewithal to take the right steps. After all, not every executive can make the transition from heading a small network in God’s own country to leading India’s largest media and entertainment network.

  • Uday Shankar: The man who built Star India

    Uday Shankar: The man who built Star India

    MUMBAI: 31 December 2020. A chapter ended in the history of Disney Star India. According to public announcements by the mouse house, it was the last working day for chairman Uday Shankar at Star India, a company he steered – along with the Murdochs – into its arms over a decade. No announcement has been made regarding his replacement. Not much is known about where he is headed.

    Mutterings have been heard in the media that he is setting up an investment fund along with other high net worth individuals (the gossip is that it is James Murdoch’s Lupa Systems) to help talented young entrepreneurs polevault their start-ups to the next level and even unicorn status. Which he might end up being very successful at as his track record has shown. Star India has had quite a few CEOs – Andrew Carnegie (general manager), Gene Swinstead, Rathikant Basu, Peter Mukerjea, Sameer Nair and then Uday. He probably has the distinction of being the longest running head of the network.

    Uday himself is worth a few hundred crore (some say, the stocks he has accumulated during his tenure with 21st Century Fox over the years are valued at between $100-150 million). He has been appointed as the president of industry lobbying body Ficci – reportedly the first media and entertainment executive to be given that position. Which puts him centre stage in Indian industry – amidst some of the top businessmen and industrialists in the country – and gives him tremendous access to different ministries. His track record and public profile is enough to open many a door but the Ficci handle would really come handy.  

    That track record saw Star India being valued at around $17 billion in the acquisition price of $72-odd billion that Disney paid for Fox’s entertainment assets. Clearly, Uday had a big hand to play in that growth.

    Uday, however, is leaving behind the company in good hands. K Madhavan is managing director Star and Disney India. He has the impeccable track record of transforming an ailing business, Asianet, in the previous decade into a hugely profitable one, which Star finally acquired. And he worked very closely with Uday to build its regional language business. President & head infotainment, kids & regional entertainment channels, Disney & Star India Kevin Vaz has seen and participated in the broadcaster’s growth curve for more than a decade in different roles. President & head English and Hindi entertainment Star India Gaurav Banerjee is a long-timer Uday has had tremendous trust in and he has delivered by keeping the network on the top of the ratings charts. Star veterans CFO Sanjay Jain and  chief legal counsel Deepak Jacob and the highly respected HR head Amita Maheshwari have domestic and APAC responsibilities for The Walt Disney Co. President of TV distribution Gurjeev Singh Kapoor, India and International for Star and Disney knows the ins and outs of getting the channels into Indian and international homes, having seen the network report increased revenues year on year.

    President ad sales Disney and Star India Nitin Bawankule too has tremendous pedigree with experience in companies such as Google, Dell, and Motorola.

    Then there is the new hire Sunil Rayan, who is heading the OTT business in the shape of Disney+ Star India, and has had international experience leading Google Cloud for Games before hopping on board for his new challenge. Head corporate development direct to consumer business APAC, The Walt Dsiney Co Prateek Garg too has a respectable track record with experience at Ernst & Young, HSBC, Sun group and many years at Star India. Finally, Uday has left the fortunes of the studios business for both Disney and Star India in the hands of Bikram Duggal, who too has a long track record in the business.

    Will the mouse house find a replacement for Uday? Or will it let the current structure continue? Probably The Walt Disney Co CEO Bob Chapek and international operations & direct to consumer chairman Rebecca Campbell know. And we will have to wait until early 2021 when Campbell said Uday’s successor would be announced. 

  • Uday Shankar gets appointed as FICCI president

    Uday Shankar gets appointed as FICCI president

    MUMBAI: Here’s another stripe he’s adding to the numerous ones he has got during his fascinating career. Disney Star India chairperson and Walt Disney Co Asia Pacific president  Uday Shankar will take over as FICCI president–elect for 2020-21  during the lobbying body’s ninety third AGM on 11, 12, and 14 December 2020. He will succeed Apollo Hospitals managing director Sangeeta Reddy. 

    In the process, he will become the first ever media and entertainment industry executive to lead the national chamber . Prior to this he was chairman of FICCI’s media & entertainment committee, apart from being president of the Indian Broadcasting Foundation. 

    Uday currently leads Disney’s direct-to-consumer business in over 30 countries and has been behind the tremendous success Star India has achieved in entertainment and sports broadcasting, apart from the streaming service Disney +Hotstar. 

    Uday has also been a vociferous advocate of the entertainment and broadcasting sector, speaking out at times against regulation which has slowed down the TV ecosystem. He has been at the forefront of landmark initiatives in television broadcasting, such as self-regulation of content and digitisation of the broadcasting sector. He holds an M. Phil in economic history.

  • Lens of regulation is more important: Uday Shankar on OTT platforms

    Lens of regulation is more important: Uday Shankar on OTT platforms

    KOLKATA: ‘Will OTT platforms be put on leash?’ is the question being discussed and debated lately, especially after being brought under the ambit of the ministry of information and broadcasting (MIB). It is very much evident that the industry will have some regulatory framework sooner or later but what matters is the regulatory lens, as Star & Disney India president Uday Shankar said at the HT Leadership Summit 2020.

    “More than anything else, it is an official decision. I don’t really think it matters. What is important is what will be the lens of regulation. Do we really want to be over-prescriptive or do we want creativity and imagination to have a role in this?" Shankar commented on the matter of government monitoring OTT content.

    According to him, the country and consumers have always been way ahead of where the government and regulators believe they are. They are far more open and mature but regulators assume that a huge filter needs to be applied before they consume content.

    However, he cautioned that global streaming services must not be insensitive to India’s diversity and culture by offering content simply tailored to grab eyeballs. “I’m not a fan of censorship, I don’t believe in it…the kind of gratuitous content, the amount of sex, abusive language or violence, even though it is part of all our lives…a lot of the times it is just done to pander to attention," he said.

    In light of the recent controversies and calls for boycott of certain OTT platforms over shows that purportedly wounded religious sentiments, Shankar averred that foreign players need to take some responsibility for the content they put out, because in the end, India is a sensitive country.

    “We should not take the freedom for granted. I think this is what happens when the global services come into the country and disregard everything. They believe that what works in one country can work in every country. This is the backlash,” he noted.

  • On Uday Shankar’s exit from Disney+Star, a retrospective on his rise

    On Uday Shankar’s exit from Disney+Star, a retrospective on his rise

    MUMBAI: Back in 2007, when Uday Shankar was picked out of nowhere to lead Star India, the organisation was a minnow. It had been a leader in the Hindi GEC space through its channel Star Plus, but it slipped from that pedestal following aggressive moves by competitors like Zee TV, and Sony. It had a small presence in regional languages; its channel portfolio was limited. Long-running teams and senior managers had left the network, for whatever reasons.

    Most professionals asked: “Who Uday?” with the emphasis on the fact that they did not consider him much of an entity when one asked them about his appointment.

    When he leaves the organization on 31 December, he will be leaving behind a massive beast present in almost every Indian language, which is a front runner in general entertainment, drives the sports and sports broadcasting agenda in India, is a pay TV powerhouse, has a globally recognised OTT streaming service Hotstar, that is the envy of gold standard streamer Netflix.

    To add to that the Star India network also has brilliant pedigree attached to its brand – the name Disney, which is the world’s biggest media firm.

    And industry is still asking: “Who? Uday?”

    This time, the emphasis is on the shock that they feel about his decision to leave Disney Star India, having made his mark as a media and entertainment industry leader.

    Read more news on Uday Shankar

    Many expected him to leave on the back of the merger announcement a year and a half ago. Of course, the expectation was that there would be a clash between the rigorous process and the system driven approach that Disney is known for and the entrepreneurial, back-of-the envelope, seat-of-the pants culture that the Murdochs encouraged in Star India and which Uday had gotten used to. But because he stayed put – even as his deputy Sanjay Gupta, digital head Ajit Mohan, strategy and marketing head Gayatri Yadav left – one thought he had managed to meld into the new culture; that he would stay.

    Uday filled the executive gaps quickly by bringing in K Madhavan to look after the TV business, a new Hotstar boss in Sunil Rayan, and everyone thought he was padding up to take Disney Star India into its next innings.

    His announcement comes at a time when the IPL is having its best year yet with higher viewership than ever before; that too in times of dire stress thanks to Covid2019. The IPL is something which has been very close to his heart; hence he bid the seemingly ridiculously high amount he did when he acquired its rights. Yes, revenues may be a little stifled this year thanks to the clampdown on spends by advertisers. But by any yardstick, Uday and his team have done a fairly good job in bringing in the financial numbers they have.

    The channels he runs are in fine fettle – being top of the rung in almost every genre. Yes, there are rumblings that the broadcast sector is a legacy business; digital is going to make it look antiquated. Yes, Covid2019 and subsequent lockdowns have totally upended business and revenue generation plans and accelerated digital adoption.

    Read more news on Disney & Star India

    The wrongly held perception is that we are counting down to traditional television’s inevitable demise. Which is where many are wrong-stepping themselves, at least in the Indian scenario. If one were to look at the demographics of India, television still has a lot many homes to penetrate. Will these homes leapfrog to broadband and streaming TV? Unlikely. Most experts have said no. VoD is here to stay, but the lean-back comfort that TV provides cannot be wished away.

    Uday showed he has the appetite and the aptitude to think big, to think scale.He built a team from ground up. The team listened to him, opposed him, and together they charted the growth of Star. He managed to convince the Murdochs to consolidate management of Star’s India operations into India from Hong Kong, saving them hundreds of millions of dollars in the process. He also convinced them to grant him the independence of Star Sports’ future in India by buying out ESPN’s interest in ESPN-Star, the 50:50 joint venture between the two. He then went about on his sports pursuits, acquiring cricket rights across BCCI, ICC and that of almost every sport and setting up local leagues for football, kabaddi, tennis, badminton and what have you.

    He gave the programming vertical the respect it deserves by labelling it as content; he allowed the setting up of a writer’s room in Star, he encouraged the concept of a show runner, something the broadcast sector was loathe to define. He was willing to take risks on content, on branding the network. His channel campaigns were like the broad brush of a painter who knows his craft, and they hit a chord with all of us. At one time he coalesced the messaging around Star India with the messaging of a new India with the tag line Nai Soch (new thinking).

    He chiseled the Star network into one which is deeply connected to the Indian ethos with stories and shows that talked about uplifting the Indian woman. He brought in a new narrative and seriousness through series such as Satyamev Jayate, TedX talks. Yes, they possibly did not help lift Star’s TRPs but they showed that it cared, and cares. He made many friend in high places, even with rivals. Zee TV’s Punit Goenka and he were opponents in business, but they often exchanged notes as though they were friends.

    Amongst Uday’s biggest initiatives was to give shape to Star India’s digital initiatives after failing on different versions online. With the right teams, technology and investment, he nurtured and grew the streamer, Hotstar,  into one which is driving the local streaming  agenda in India today.

    Uday raged against excessive regulation in the broadcast sector, when all his earlier efforts at diplomacy failed with the industry watchdog Telecom Regulatory Authority of India.

    What does Uday’s departure signal? Nothing much. Except that he is itching to do something different. Like he has been vaunt to do throughout his career – giving up a cushy print media job to do TV, saying ta-ta to news TV to do general entertainment television and running a network. Now giving up a prime executive position to turn entrepreneur.

    Most of the executives who left Disney Star India have left to join either digital or investment oriented ventures. It was not as if they were unhappy with what they had going at Star India. They left for better opportunities – Sanjay as Google India MD, Ajit as Facebook India boss and Gayatri as chief marketing officer at Sequoia Capital. As is Uday himself.

    Uday, in the press statement issued on his departure announcement said that he is going to partner with a bunch of global investors and pioneers to mentor startups and entrepreneurs “as they set out to create transformational solutions that will have a positive impact on countless lives.”

    Rajesh Kamat – the former CEO of Viacom18 – had in the past taken a similar tack, by partnering with Paul Aiello to run media investment funds. But they were focused on media. Going by Uday’s statement, his remit will be wider.

    The release also announced that Uday will work closely with Disney direct to consumer & international segment chairman Rebecca Campbell to find his successor. He has three months to do that. Going by the legacy he is leaving behind, finding someone who can match his energy and chutzpah might be a tall order.

  • Uday Shankar steps down from Disney Star India

    Uday Shankar steps down from Disney Star India

    MUMBAI: This is big in the world of media and entertainment. The professional who helmed Star India for the past 11 years and saw it through with its merger with Disney – Uday Shankar- has decided to step down.

    The  president, The Walt Disney Company APAC and chairman, Star & Disney India, will be leaving effective  31 December 2020, it was announced today by Rebecca Campbell, chairman of Disney’s direct-to-consumer & international segment.

    Over the next three months, Shankar will work closely with Campbell to identify his successor to ensure a smooth transition.

    “I want to thank Uday for his leadership and dedication to our APAC business. With the successful launch of Disney+ throughout the region, he has helped put The Walt Disney Company in a commanding position in this dynamic and incredibly strategic part of the world. His vast experience and expertise have been invaluable in bringing together a strong, cohesive APAC leadership team to chart a path forward for our streaming businesses in the region and beyond,” said Ms. Campbell. “Uday has been a great friend, colleague and valued counselor to me personally, and I know I speak for all of DTCI when I say he will be greatly missed. At the same time, I understand and respect his desire to make this change. I am extremely grateful that he has agreed to stay on to help ensure a seamless transition.”

    Shankar said:  “I have always believed in the power of creativity and cutting-edge technology to create a better world and consider myself incredibly fortunate to have had the opportunity to do so at Star, 21CF and now at The Walt Disney Company. As I look back on this journey, I take pride in having set ambitious goals in my professional career, and achieving all that we set out to do. For some time now, I have been contemplating the question of how I give back to the country, community and the industry that have given me so much. I think the best way to express my gratitude to all of them will be to support and mentor a new generation of entrepreneurs as they set out to create transformational solutions that will have a positive impact on countless lives.I intend to partner with global investors and pioneers to achieve this.”

    Since February 2019, Shankar has served as president, The Walt Disney Company APAC and chairman, Star & Disney India. Previously, he was president of 21st Century Fox for Asia and the chairman & CEO of Star India. He took over the leadership of Star India in 2007 and transformed not only the Star business into one of the largest and most successful media companies in Asia but has also played a significant role in revolutionizing the media landscape of the region with a great team, audacious strategy and meticulous execution. A believer in the power of local execution, Shankar led Star’s aggressive foray into regional and local language programming, transforming Star into a content powerhouse which now broadcasts more than 30,000 hours of content every year. He also consolidated Star’s sports broadcasting operations through 21st Century Fox’s acquisition of its joint venture with ESPN. Today, Star Sports is India’s largest sports broadcaster and is fundamentally redefining India’s sports ecosystem. In a notoriously single sport country, Star has launched multiple domestic sports leagues like those in Kabaddi and Football and has pioneered the agenda of creating a thriving multi-sports culture.Under Shankar’s leadership, Star has also made strides in disrupting the country’s digital landscape with the launch of Hotstar, which is now India’s largest over-the-top (OTT) platform for professionally produced content and has gone global in its footprint with offerings in the US, Canada and the UK.

    He previously served as CEO and editor of Star News, which was the first 24-hour news channel in India. He was also the editor and news director at TV Today Group, where he spearheaded the launch of Aaj Tak, a leading Hindi news channel, in 2000 and Headlines Today, a leading English news channel, in 2003. Over the past decade, Shankar has played a key role in shaping the media and entertainment sector in India, bringing reforms for the industry and its consumers. A former president of Indian Broadcasting Federation (IBF), he is currently senior vice president of FICCI (Federation of Indian Chambers of Commerce and Industry) and in line to take over as its next president.