Network18 forms JV with AETN to launch channels in India

Based in Mumbai, the JV firm 'AETN-18 India' will launch History, Bio and other AETN channels in the Indian market, Network18 said in a statement. The Network18 Group will hold 51 per cent stake in the JV firm, while the rest will be held by AETN, it added.

The venture will eventually be owned by AETN and 'New TV18' (the broadcasting business company formed after the recent restructuring in the TV18 Group), it said. AETN is a joint venture between Disney-ABC Television Group, Hearst Corp and NBC Universal.

Headquartered in New York, AETN's portfolio includes brands like A&E Network, History, Lifetime, Bio, Crime & Investigation Network, Lifetime Movie Network and Lifetime Real Women.

"India presents strong growth business opportunities for AETN's global portfolio strategy. We look forward to a long and successful partnership in this important market," AETN President and CEO Abbe Raven said.

Outside the US, AETN claims to have a viewership of 250 million TV households in more than 150 countries through 44 channels. "AETN-18 will endeavour to mirror the success that channels like History have had in the US. I believe the time is right for India to have a vibrant and dynamic factual entertainment space, led by channels like History," Network18 Editor Raghav Bhal said.

Network18 has similar partnerships with Viacom (Viacom18 is a 50:50 JV with channels like Nick, MTV, Vh1 and Colors) and newspaper Lokmat (for IBN-Lokmat).