The channels will be established in association with Alva Brothers, the holding company of production house Miditech.
Turner and Alva Brothers will float a 50:50 joint venture for the purpose. The yet-to-be-named entity will leverage Alva Brothers' understanding of the Indian audience and Turner's expertise in operating broadcast networks globally.
"Entering the broadcasting arena with the global expertise of Turner begins an exciting new chapter for Alva Brothers. The (Hindi) channel will provide fresh alternative content to an increasingly discerning audience. We are confident that the differentiated offering will appeal to the audience targeted," said Nikhil Alva, co-promoter of Alva Brothers.
Besides, Turner will also acquire a minority stake in Miditech, including the shares previously held by ICICI Venture. The promoters of Alva Brothers, Nikhil and Niret Alva, held 75 per cent in Miditech while ICICI Venture held 25 per cent.
Now, with ICICI Venture selling their stake and the promoters diluting 4 per cent (of 75 per cent), Turner will hold 29 per cent and Nikhil and Niret will together hold the rest.
Miditech will, however, continue to be an independent content producer for television broadcasters and corporate clients.
"The partnership with Alva Brothers further strengthens Turner's presence in one of the most dynamic media markets in the world. This is our entry into the general entertainment space in India and we are confident that this partnership, drawing on the strengths of both partners, will deliver ground-breaking quality programming to Indian audiences," said Anshuman Misra, MD, Turner International India.
Turner already operates Cartoon Network and Pogo in India.
