JAMES MURDOCH, UDAY SHANKAR TEAM UP FOR NEW MEDIA VENTURE

James Murdoch, son of media baron Rupert Murdoch and Uday Shankar, who headed Star India and Walt Disney Asia Pacific, on Thursday announced a new joint venture which will explore technology and media opportunities in the emerging markets.

James Murdoch is the CEO of Lupa Systems, a private holding company founded by him in 2019 after the acquisition of 21st Century Fox by Walt Disney.

"After two decades of working in India and the region, at Star and more recently at Lupa Systems, it's great to be entering into a renewed partnership with Uday. Our collaborations over the years have been immensely rewarding for consumers, our various shareholders, and our colleagues," James Murdoch said in a statement.

As connectivity continues to accelerate and expand across South Asia and the whole region, new opportunities for innovation, across consumer sectors, will multiply, he added.

"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," Shankar said.

The statement did not provide the name of the new venture or details.