Pankaj Krishna, Head of UTV Entertainment Television Ltd (UTVETL), has left the company in order to set up his own business venture in the media and real estate space.
Krishna was responsible for two channels at UTVETL: UTV Movies and World Movies. To ensure a smooth transition, he will continue to work for UTV for the next couple of months.
Krishna’s business will focus broadly on three verticals: ‘Design’, edifice concepts and architectural drawings; ‘Development’, turnkey execution of designer commercial projects; and ‘Media’, one-stop solutions for media strategy, planning and buying and creative. The corporate office will be headquartered in Delhi with facilities in Delhi and Mumbai. Krishna will manage the first two verticals directly, while the third vertical will be launched in partnership with an existing media company. At this point he would not reveal details about the funding for his businesses nor the partner firm.
On the timing of his decision, Krishna commented, “I view the current situation as a brilliant opportunity, and have a focused strategy to surge forward. For anyone who has been able to manage funding, this is an opportune time as barriers to entry are limited and there is no dearth of good talent available. This time can be a huge advantage for low cost businesses to enter into new arenas”. He added, “Given the global meltdown, businesses with international affiliation would suffer directly. Luckily, we have no such dependence, and most importantly, we have the liberty to work without interference from anyone.”
He also commented on the choice of business, “I see exponential growth in the second vertical, infrastructure development, as a major chunk of this is part of a largely unorganised segment, and it is the right time for someone to corporatise the same.”
Media organisations will continue to slash costs and manpower and will outsource many key activities. Krishna wants to be able to provide such advice and inputs to media companies.
Krishna has twelve years’ experience in the media space having worked across brand management, advertising sales, distribution, media buying, research, and on-air presentation and strategy. He has previously worked with Living Media, where he was responsible for marketing the India Today brand and has also worked for National Geographic Channel.