ZEEL to form JV with Voddler Group

Subhash Chandra-promoted Zee Entertainment Enterprises Ltd (ZEEL) has expressed intent to enter into a joint venture with the Stockholm-based video on demand (VoD) provider Voddler Group, for developing a proprietary technology. “If the technology succeeds, ZEEL will invest up to $5 million and form a joint venture with Voddler,” ZEEL chief corporate development officer Atul Das told TelevisionPost.com. Earlier, ZEEL said that its board has accorded in-principle approval for a proposed joint venture between Asia Today Ltd, Mauritius, the company’s wholly-owned overseas subsidiary, and Voddler Group AG. Explaining the deal, Das said:“This is an in-principle approval to invest if they develop a proprietary storage and streaming technology. If it becomes successful, we will be investing in the company.” When asked on how much stake ZEEL will hold in the JV, Das clarified that it will be calculated at the time of investment, based on the other company’s valuation. ZEEL, which is looking at expanding its over-the-top (OTT) VoD service Ditto TV in the international markets, feels that the proposed storage and streaming technology can be of great help to increase scale. Ditto TV offers live TV streaming and VoD content on mobile phones, tablets, computers and connected TVs. At present, Ditto TV is available in countries like the US, UK, Australia, New Zealand and UAE. Voddler Group already has a patented streaming technology, VoddlerNet. It is a server-less peer-to-peer distribution system, which allows streaming from users’ machine, rather than using the company’s servers. This results in keeping the server costs down. 

Read more at: http://www.televisionpost.com/television/zeel-to-form-jv-with-voddler-group/ | TelevisionPost.com

Source: http://cablequest.org/news/national-news/item/3353-zeel-to-form-jv-with-voddler-group.htmlSource: http://cablequest.org/news/national-news/item/3353-zeel-to-form-jv-with-voddler-group.html