Former Disney India MD Ronnie Screwvala is teaming up with former Network18 group CEO B Saikumar to launch a new digital media company, reports The Economic Times. Saikumar will be the managing director of this venture while former Network18 COO Ajay Chacko will be the CEO. Note that Chacko had left Network18 just a day after Saikumar's departure in May last year, prior to the Reliance Industries takeover. The details on this venture is a bit sketchy at the moment, although the focus seems to be on digital video. Saikumar told Exchange4Media they have begun sourcing talent in creative, product and technology functions across entertainment, current affairs & infotainment segments. He also told ET that they will source talent from broadcasting sector globally. Saikumar added that the company will offer multi-genre, multi-lingual content across video, audio, text and other traditional and new age forms and Screwvala will be investing Rs 150 crore in this venture, which will be based out of Mumbai. The company says that it will focus on the Indian market in the first phase and then evaluate new geographies and new verticals in the second and subsequent phases. Subscription model? Screwvala also hinted to ET that they may explore a subscription model for its digital offerings citing the example of Netflix, indicating that the venture would likely be a video on demand service featuring original content as well as third party content across various genres like current affairs, entertainment, technology and infotainment among others. Remember that Chacko was previously the president of Network18's infotainment business and has also led many…
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