Star India acquires Screen, a weekly magazine cum newspaper on film and entertainment in an undisclosed amount today. Star India which is a foreign subsidiary of 21st Century Fox, has bought the weekly magazine Screen (fifteen thousand weekly circulation) to turn this paper magazine into full digital desk for their new launched entertainment app, Hotstar.
Star India acquires Screen
Screen and Hotstar
Official press release after Star India acquires Screen:
Star India’s Chief Operating Officer Sanjay Gupta expressed how they looking forward to merge Screen and Hotstar in the digital entertainment magazine desk. He says,
We believe that Screen is a strong brand and will help Hotstar to catch more visitors. Moreover it will be an amazing experience to see screen and Hotstar in web desk. Already, Hotstar is popular among the urban mass, but to catch the whole new generation we need to work with screen and Hotstar both.
Hotstar | Star India’s new Entertainment App
Hotstar is a smartphone mainly Android and iOS based app which was launched on 1st February 2021. It offers live streaming of various daily sops in seven different language including Tamil and Maratha. It covers the sports section too, that means you can enjoy live streaming of your favorite games anywhere from the world. According to the Star India- It’s a whole new world of entertainment.
Probable buy out price of Screen by Star:
According to a person who was closely related with the team of Star, the deal takes place with a transfer price/ buyout amount of 40 crore rupees. (Souce: Livemint)
Screen and Hotstar:
In the initial time, Screen on Hotstar will be advertise supported and will have a prime focus on videos only. The team of screen desk that has fifteen members in it will be headed by Priyanka Sinha Jha. ,
Its Star India’s third acquisition in India, after their largest acquisition- Telegu TV channel Ma TV in 2000 crore rupees. But the Star India acquires Screen only for focusing on the smartphone viewers supported by Hotstar.