Indian television producer, Ekta Kapoor and her mother, Sobha Kapoor have stepped down as the head of their OTT company ALTBalaji. The film producer announced the new development in an Instagram press release, calling the decision strategic.
The statement read, “While the process of stepping down started last year, ALTBalaji now has a new team to take over. This decision is a strategic one to focus on other ventures. The company is pleased to announce that Vivek Koka has been appointed as the new Chief Business Officer of ALTBalaji.”
“Under Mr Koka’s leadership, ALTBalaji aims to follow their footsteps and continue its strong track record of delivering high-quality, original content to its audiences,” the statement read.
Ekta Kapoor accompanied the post with a caption that read, “Good luck team alt! Will always share your posts and lend support needed. Let’s welcome the new management.”
Ektaa R. Kapoor started the streaming service AltBalaji, which recently celebrated its fifth anniversary. The streamer is a part of Balaji Films, which was founded in 1994 by her and her parents, Jeetendra Kapoor and Sobha Kapoor. Balaji Films is South Asia’s largest producer of television content.