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.
The new partnership reunites Murdoch and Shankar, who go way back.
Both had worked together building Star India, prior to its sale as part of the merger of 21st Century Fox and The Walt Disney Company.
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 further details.
Lupa Systems, which has offices in New York and Mumbai, focuses on companies within the technology and media industries, impact-driven companies focused on environmental sustainability, and emerging markets, particularly within the Indo-Pacific region.
Shankar had left Disney on December 31, 2020 and announced that he will be pursuing entrepreneurial interests.
James Murdoch, who has over two decades of global leadership in the media and technology industry, was the CEO of 21st Century Fox from 2015 to 2019.
Lupa Systems has invested in Indian startups like Dailyhunt and Harappa Education.