Star India is an Indian Media and entertainment company, owned by 21st Century Fox. It is headquartered in Mumbai, Maharashtra. Star India portfolio includes 48 channels in eight languages. Recently, Star India entered into an agreement with Indian Express Group to acquire film magazine ‘Screen’. Founded in 1951, Screen also owns a popular film awards franchise by the same name.
As part of the transaction, Star will get exclusive ownership of the Screen brand franchise, including all archival material and transfer of key employees. The screen acquisition will yield huge benefits for Star India and Hotstar app, the digital platform. Star has built one of the largest media and entertainment organizations in the country, reaching over 700 million viewers with nearly 40 channels in seven languages.
Screen, with a circulation of nearly 15,000 copies per week, will publish its last print edition this week as Star India takes the entertainment weekly online to be a part of its recently launched digital initiative Hotstar. Hotstar launched on 1 February, is a mobile application that offers more than 35,000 hours of content in seven languages, promising viewers a big library of movies, television shows and even live sports (cricket, football, tennis, and kabaddi).
The deal is estimated to be in the range of Rs 30 crore to Rs 40 crore. The acquisitions means Star now owns the popular screen awards. Last month, Star India acquired Telugu television channel Maa TV in its largest acquisition in India, in a deal estimated to be in excess of Rs 2000 Crore. Hotstar has 35-40 advertisers across various categories including Coca Cola, Nissan, Nestle, and Airtel, as well as e-commerce companies like Snapdeal and Flipkart.