Uday Shankar, who lately stood down as head of Disney in Asia, has arrange an new enterprise with James Murdoch and his Lupa Methods firm. The unnamed enterprise will discover expertise and media alternatives in rising markets.
Murdoch arrange Lupa as a personal holding firm in 2019 following his departure as CEO of twenty first Century Fox, Sky plc, and STAR. He subsequently give up as a director of Information Corp. in July 2020.
Lupa has places of work in New York and Mumbai, with Nitin Kukreja, its MD in India. Its portfolio features a controlling stake in Tribeca Enterprises, and minority stakes in Vice Media and location-based VR agency The Void.
Shankar was in his function as Chairman and CEO of Star India and President of Walt Disney Asia Pacific solely from February 2019. Beforehand, he was president of twenty first Century Fox for Asia.
However Shankar has an extended and enviable observe report having taken over the management of Star India in 2007. There he remodeled the Star enterprise into one of many largest and most profitable media corporations in Asia, performed a major function in revolutionizing the media panorama of the area, and crossed paths with James Murdoch, who held numerous senior positions at twenty first Century Fox and Star.
It has been estimated that the Star enterprise represented $17 billion of the $72 billion that Disney paid to amass the Murdoch family-controlled twenty first Century Fox in 2018. Star has now diversified from pay-TV into streaming, the place its Hotstar service is the market chief with an estimated 600 million month-to-month lively customers.
Shankar can also be credited with consolidating Star’s sports activities broadcasting operations by way of twenty first Century Fox’s acquisition of its three way partnership with ESPN. That was adopted by the daring and defining transfer of paying $2.55 billion for rights to the Indian Premier League cricket event in 2017.
Shankar, who is known to have been made rich by a few years of share choices at Fox, mentioned on the time of resignation that he wished to “assist and mentor a brand new technology of entrepreneurs” and that he would “accomplice with international traders and pioneers to realize this.” He was additionally lately named as president of business lobbying physique FICCI.
“James and I loved a fantastic partnership at Star and I’m enormously excited to be in partnership with him once more,” mentioned Shankar in a ready assertion. “At Star, we had the nice advantage of working with the very best and brightest Indian expertise, mixed with international imaginative and prescient and a want to disrupt the outdated order. Digital Know-how guarantees to remodel the lives of many tens of millions of individuals on this a part of the world and I’ve each confidence that we will harness expertise, enterprise, and super expertise to create a fantastic enterprise that can also be nice for society.”
“I’m more than happy to be renewing that partnership (with Shankar) now. As connectivity continues to speed up and broaden throughout South Asia and the entire area, new alternatives for innovation, throughout client sectors, will multiply,” mentioned Murdoch in a press release.