MUMBAI: As The Walt Disney Company inches towards closing in on the pending acquisition of 21st Century Fox, the company has restructured its international operations. Uday Shankar is all set to become chairman, Star and Disney India, and president, The Walt Disney Company Asia Pacific. Shankar is currently president 21st Century Fox Asia and chairman and CEO, Star India.
“Once the acquisition is complete, all three regions will be led by exceptional, highly experienced executives who will combine the ‘best of the best’ talent from both organizations. This new structure and the outstanding leadership team we’ve put in place are clear demonstrations of our strong commitment to integrating operations and thoughtfully executing our strategic priorities around the globe,” said Kevin Mayer, chairman, direct-to-consumer and international segment, The Walt Disney Company.
In his new role, Shankar will report in to Mayer, while Luke Kang, EVP and MD, Greater China, Japan and Korea; Kylie Watson-Wheeler, MD of Australia and New Zealand; and Chafic Najia, SVP and MD of Middle East will report in to him.
The company has brought together executives from its own team as well as Fox to create a global leadership team. While Rebecca Campbell, who at present is president, The Walt Disney Company EMEA, has been given additional charge of Russia and CIS; Diego Lerner, who is president, Latin America, will head the LATAM business. Janice Marinelli will serve as president, global content sales and distribution.
Shankar has been the head of Star India since October 2007.
Star India runs a host of sports channels under the Star Sports brand, general entertainment channels, regional television through a portfolio of regional channels in Malayalam, Kannada, Tamil and Telugu, besides operating a movie joint venture Fox Star Studios.
In 2012, Star India acquired the stake of Disney’s sports subsidiary ESPN in the ESPN Star Sports equal joint venture.
Disney’s acquisition of 21st Century Fox has received formal approval from shareholders of both companies, and Disney and 21st Century Fox have entered into a consent decree with the U.S. Department of Justice that allows the acquisition to proceed, while requiring the sale of the Fox Sports Regional Networks. The transaction is subject to various international regulatory clearances, a number of which have been obtained, while others remain pending.
Walt Disney, together with its subsidiaries, has operations in four business segments — media networks, studio entertainment, parks, experiences and consumer products; and direct-to-consumer and international. Disney had annual revenues of $59.4 billion in fiscal year 2018.
