Ajit Varghese, Chief Revenue Officer – Entertainment and International at JioStar, has stepped down from his position, two people familiar with the development confirmed. Mahesh Shetty, currently heading revenue for large clients across TV and digital at JioStar, will take over the role.
The company has not responded to queries regarding the leadership change.
Ajit, a seasoned media executive, previously held senior roles including Executive Vice President and Head of Network and Ad Sales at The Walt Disney Company. He also served as Chief Commercial Officer at ShareChat and Moj, and as Global President at media agency Wavemaker.
Mahesh Shetty brings over two decades of experience in the media industry. Before joining JioStar, he was Head of Network Sales at Viacom Media and previously served as Chief Operating Officer at Radio Mirchi.
The leadership shift comes shortly after the formation of a major joint venture between Reliance Industries Ltd. (RIL) and The Walt Disney Company in February 2024. The JV merged the businesses of Viacom18 and Disney’s Star India, creating a media powerhouse valued at ₹70,352 crore (post-money), excluding synergies. RIL also announced an investment of ₹11,500 crore into the entity.
The new JV includes top entertainment and sports channels such as Colors, Star Plus, Star Gold, Star Sports, and Sports18, along with OTT platforms JioCinema and Hotstar. It now reaches over 750 million viewers in India and holds exclusive rights to distribute Disney films and access over 30,000 Disney content assets.
The leadership change marks a new phase in the integration of the two media giants under one umbrella.
