Ajit Varghese has stepped down as Chief Revenue Officer (CRO) – Entertainment and International at JioStar, according to sources. His responsibilities will now be taken over by Mahesh Shetty, who currently heads revenue for key television and digital clients.
Ajit Varghese held the position of Executive Vice President and Head of Network & Ad Sales at The Walt Disney Company before its $8.5 billion merger with Reliance Industries' streaming service. He was responsible for leading key ad revenue strategies across Disney’s broadcast and digital platforms in India.
Ajit Varghese previously served as Chief Commercial Officer at ShareChat and Moj, and held the role of Global President at media agency Wavemaker. Mahesh Shetty, his successor, has been leading network sales at Viacom18 since 2019.
Shetty, who currently heads the Linear Channels Sales (LCS) business, will now take charge of an expanded revenue portfolio. Before JioStar was formed through the Star India–Viacom18 merger, he led network sales at Viacom18, driving key advertising partnerships.
With close to 30 years of experience in media, entertainment, and fast-moving consumer goods (FMCG) sectors, Mahesh Shetty has held leadership roles at Radio Mirchi and PepsiCo. He is widely known for driving business transformation and long-term revenue growth across industries.
In February 2024, Reliance and Disney announced a joint venture merging Viacom18 and Star India. Reliance Industries Ltd committed ₹11,500 crore to the deal, valuing the new entity at ₹70,352 crore post-money, excluding expected business synergies.
The joint venture merges top TV brands like Star Plus, Colors, and sports channels including Star Sports and Sports18, along with OTT platforms JioCinema and Hotstar. Reaching 750 million viewers, it also gains rights to distribute Disney films and 30,000+ content titles in India.
