Six months after quitting the News Corp. board, James Murdoch is embarking on a brand new media and tech enterprise in India alongside Uday Shankar, the previous president of The Walt Disney Company Asia Pacific and chairman, Star & Disney India.
Murdoch and Shankar labored collectively to develop Star right into a dominant power within the Indian TV market earlier than it was inhaled by Disney as a part of the Mouse House’s $71.3 billion takeover of twenty first Century Fox in 2019. Shankar introduced his resolution to go away Disney final month having constructed Star to the purpose the place it reaches greater than 600 million viewers a month.
Their new, yet-to-be-named enterprise will probably be backed by Murdoch’s Lupa Systems. A press launch unveiling the corporate was coy on specifics, however Murdoch stated it’s going to look to faucet into an explosion in connectivity in India, the place cell information is reasonable, and throughout South Asia to establish “new alternatives for innovation.”
In an interview with the Financial Times, Murdoch added that M&A will probably be a part of the play, however it’s going to have an operational focus and isn’t a enterprise capital initiative. “We are doing one thing that has a broad scope… within the context of simply extraordinary cell connectivity. It’s an incredible second to start out one thing with a clean sheet of paper,” he added.
In an announcement, Shankar added: “Digital Technology guarantees to rework the lives of many thousands and thousands of individuals on this a part of the world and I’ve each confidence that we are able to harness expertise, enterprise, and super expertise to create an incredible enterprise that can be nice for society.”