MUMBAI: The Zee Group is contemplating launching its own English movie channel following the buy-out of its current partner Metro-Goldwyn-Mayer by a group headed by Sony Corp.
According to a PTI report, the business head for Zee's English channels Ajay Trigunayat has been quoted as saying that the group is contemplating starting its own English movie channel, either on its own or in partnership with some other media company.
The decision, he is reported to have told, will be taken in the next four to five days following a meeting of senior programming, marketing and other personnel at Zee.
According to the report, Zee had a content sourcing agreement with MGM for the last four years and the Zee-MGM English channel commanded a market share of around 17 per cent.
In the report Trigunayat said that MGM had no equity participation in the venture and both parties were free to call off the agreement if they desired so.
"Even as we had the partnership with MGM, many of the movies on the channel were being sourced from other players like Paramount and Miramax. Thus we can go solo, taking the content from various partners," he has been quoted in the report as saying.
He said that after four years of existence in the market along with MGM, the channel had developed enough expertise in marketing and distribution, adds the report.