He could consider ‘helping’ Ambani launch four TV channels -- two news channels, one film-based and one general entertainment channel.
MUMBAI: Even as Rupert Murdoch’s Star TV fights a desperate battle to keep its top people from leaving, an intriguing sub-plot is reportedly brewing involving Reliance Industries’ Mukesh Ambani and Star Group’s CEO Peter Mukerjea in lead roles.
If top sources are to be believed, Mukerjea could well consider ‘helping’ Ambani launch four new TV channels, two of which will be news channels (English and Hindi respectively), one film-based and one general entertainment - a close parallel to Star Plus.
Mukerjea has reportedly been asking a few very senior media and marketing professionals to come on board, and has reportedly also been in touch with professionals like Pratik Basu, former CEO of Buena Vista.
When contacted earlier by DNA Money about him starting a new channel, Mukerjea had stated that he remained very much with Star.
One theory doing the rounds is that Mukerjea will launch these channels through a separate company, which would in time come under Reliance Industries’ umbrella. Investments for this mega broadcasting venture would come from the Mukesh Ambani camp, say sources. ``As is known, Mukerjea’s contract with Star expires only in 2008, and he cannot join competition till then. This may explain why Reliance’s broadcasting venture may flag-off initially as a Peter M company or co-held venture,’’ runs market comment.
That’s a lot of rhetoric up in the air. And the roulette wheel spins back to: will he or won’t he? Will the carrots dangled by NewsCorp keep Mukerjea back at Star? Or will the chance of striding out along with India’s leading business magnate prove just too alluring for Mukerjea?
Meanwhile, what’s indisputable is that the two Ambani camps have their sights actively set on the razzle-dazzle prospects of entertainment. Investing in the launch of four new TV channels would mark Mukesh Ambani’s debut in this sector. Sibling Anil Ambani’s ADAG has already been making acquisitions in TV production and gaming under the Adlabs banner, while also tuning into Big 92.7 FM radio.
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