US-based digital media firm Penske Media Corporation has appointed Debashish Ghosh as its managing director for international markets, reports Indiantelevision. Prior to joining Penske, Ghosh was the COO of Internet platforms, services, content business for LeEco, India for 9 months. Before that he was the CEO Zee Digital Convergence for over 3 years, and quit to join LeEco in May last year.
Ghosh had taken charge of all digital businesses of the Zee/Essel Group in India as CEO of Zee Digital Convergence Limited and CEO & Whole Time Board Director of India.com Network in February 2013. He started his career with Times of India Group in 1990 and worked as Head of Technology and Advertising Operations, The Times Group to CEO, Times Business Solutions Limited in 2012.
Penske’s India.com stake
It’s worth noting that the joint venture between Zee Entertainment Enterprises Ltd (ZEEL) and Penske Media Corporation (previously known as Mail.com Media Corporation or MMC) called India Webportal Private Ltd (India.com) will now be owned outright by ZEEL. The company acquired the remaining 49% stake in India Webportal for Rs 197.18 crore (or $30.7 million). ZEEL will be buying the remaining stake from existing shareholders MMC Investments Holding Company II Ltd (44%) and Ashok Kurien (5%). India Webportal runs websites such as BGR.in, Bollywoodlife.com and Cricket Country among others.