Uday Shankar of Star India fame teams up with Murdoch for new media venture

Uday Shankar, former Star India chief, is teaming up with media mogul James Murdoch of 21st Century Fox and Walt Disney to launch a new venture that will “explore technology and media opportunities in emerging markets”, Business Standard reported.

Shankar and Murdoch worked together at Star and their new venture will be a part of Lupa, a private investment vehicle with presence in New York and Mumbai, which has invested in online learning institution Harappa Education in India.

Shankar had announced in October that he was leaving Walt Disney to “pursue his interests” and that he was looking at digital media closely. Through Lupa, Mudroch has been investing in firms in India over the last two years.

According to Livemint, Mudroch said in a statement on renewing his partnership with Shankar, “Our collaborations over the years have been immensely rewarding for consumers, our various shareholders, and our colleagues. I'm very pleased to be renewing that partnership now. As connectivity continues to accelerate and expand across south Asia and the whole region, new opportunities for innovation, across consumer sectors, will multiply.”

Shankar said in a statement, “Digital technology promises to transform the lives of many millions of people in this part of the world and I have every confidence that we can harness technology, enterprise, and tremendous talent to create a great business that is also great for society.”