Zoom business head M.K. Anand is joining UTV Global Broadcasting as CEO, according to multiple sources familiar with the development. Anand was not reachable for comment. Zoom CEO Suresh Bala confirmed that Anand is leaving the organization.
Medianama first reported about Anand’s movement.
UTV Global Broadcasting operates four channels–Bindass, Bindass Movies, UTV Movies and UTV World movies.
Zoom is broadcast by Zoom Entertainment Networks (ZEN), a subsidiary of Bennett, Coleman & Co. Ltd. A PE fund owned by Merrill Lynch had picked up a 25% stake in ZEN in April last year.
In a related development, Shantonu Aditya, executive director of UTV Global Broadcasting, will move out of that role and focus on UTV News Ltd, people familiar with the development said. One person said an internal memo has been sent out effecting changes in the reporting structure, under which many executives in the broadcasting business who have been reporting to Aditya, have now been asked to report to UTV chairman Ronnie Screwvala till a further announcement is made.
Aditya could not be reached for comment and did not respond to a text message left on his mobile phone. Aditya has been doubling up as CEO of UTV News from the time former CEO Arun Anant stepped down in June last year.
UTV and Bloomberg announced a strategic partnership last week, under which, UTVi will be branded Bloomberg UTV and the channel will feature content from Bloomberg TV.
A UTV spokesperson declined comment on both movements.