Mumbai: Turner International and the Alva Brothers, promoters of Miditech Pvt. Limited, a leading production house, have entered into a partnership to launch an entertainment channel in Hindi and other Indian languages, targeted at the urban Indian audience.
Turner will acquire a minority stake in Miditech, including all shares previously held by ICICI Ventures.
Under the agreement, Turner and the Alva Brothers will each own 50% of the broadcasting venture. The yet-to-be-named entity will leverage the Alva Brothers’ in-depth understanding of Indian audience’s entertainment needs and Turner’s expertise in operating broadcast networks globally. The venture will be managed by both partners.
Miditech will continue to be an independent content producer, focused on creating winning content for all broadcasters and corporate clients.
Niret Alva, co-promoter, Alva Brothers, shared, “This partnership will help us widen our scope and depth of innovative creative services to broadcasters and related customers. It’s the beginning of a new journey of leadership for quality and imaginative content.”
This is going to be Turner’s first foray in the general entertainment space in India.