ITV

Category: News Headline

  • ETC share buyback programme: SEBI exempts Zee from making open offer

    ETC share buyback programme: SEBI exempts Zee from making open offer

    MUMBAI: The Securities and Exchange Board of India (SEBI) has paved the way for repurchase of shares by ETC Networks Ltd. The market regulator has granted exemption to Zee Telefilms Ltd. (ZTL) and Asian Satellite Broadcast Pvt. Ltd. from making an open offer regarding increase in their voting rights from 54.42 per cent to 58.73 per cent.

    “Pursuant to the said increase in voting rights, there would not be any change in control of the target company (ETC Networks). The application seeking exemption was forwarded by SEBI to the takeover panel. The panel recommended for exemption to the acquirers from making an open offer,” SEBI says in a release.

    ZTL and Asian Satellite Broadcast (referred to as ‘the acquirers’) are the promoters and collectively hold 54.42 per cent in ETC.

    “The repurchase of shares by ETC is aimed at increasing shareholder value. We plan to exercise the buyback programme after getting the necessary approvals,” says Essel Group CEO of corporate strategy and finance Rajiv Garg.

    ZTL and Asian Satellite Broadcast (holding company of the Group) had, on 13 June 2006, filed an application with the SEBI. “ETC Networks has announced to buy back up to 10 per cent of its total paid up equity capital and free reserves at a price not exceeding Rs 62 per share in compliance with the provisions of sections 77A and 77AA of the Companies Act 1956 and provisions of SEBI (Buy-Back of Securities) Regulations, 1998. In view of the said buy back, the holding of the acquirers would increase from 54.42 per cent to 58.73 per cent of the total paid up capital of the target company. As the shareholding of the acquirers would increase beyond 55 per cent of the issued capital of the target company, the acquirers have sought exemption from the provisions of Chapter III of the Takeover Regulations,” the letter said.

    The aim of the share repurchase programme is reduce the paid up share capital and improve earnings per share (EPS). This will be beneficial to the shareholders in the form of higher dividend pay out and increased EPS.

  • Global Broadcast News announces Rs 1 billion IPO

    Global Broadcast News announces Rs 1 billion IPO

    MUMBAI: Global Broadcast News Ltd (GBN), which manages English news channel CNN-IBN and Hindi channel IBN7, has announced plans to raise Rs 1.05 billion through the capital market. The GBN, a TV18 Group company has filed its s draft red herring prospectus (DRHP) with the Securities & Exchange Board of India, according to an official statement.

    The company proposes to raise up to Rs 1.05 billion through the issue of equity shares of Rs 10 each for cash at a premium to be decided through the 100 per cent book-build process. The equity shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.

    The net issue to public comprises the issue of equity shares aggregating up to Rs 1 billion, and the issue of equity shares aggregating up to Rs 50 million is reserved for the employees. Of the net offer to public, 60 per cent is reserved for allotment to qualified institutional buyers on a proportionate basis, 5 per cent of which will be available for allotment to mutual funds. Further, up to 10 per cent of the net offer to public is reserved for allotment to non-institutional investors and the balance of up to 30 per cent for allotment to retail investors.

    GBN joint managing director Sameer Manchanda says, “The IPO is an important milestone in realizing our larger corporate vision. It would help strengthen GBN’s position in the television news business and tap future growth opportunities”

    The book running lead managers to the issue are ICICI Securities Ltd and Kotak Mahindra Capital Company Limited. JM Morgan Stanley Limited and IL&FS Investsmart Limited are the co- book running lead managers.

  • Pio TV, IPTV channel dedicated to Indian diaspora goes onstream

    Pio TV, IPTV channel dedicated to Indian diaspora goes onstream

    MUMBAI: US-based India Broadcast Live, a global entertainment and media company, has unveiled Pio TV, a television channel meant for the Indian diaspora. The channel will be available through the Internet Protocol Television (IPTV) platform.

    Minister for Overseas Indian Affairs Vayalar Ravi formally inaugurated the new channel yesterday at a function held in New Delhi.

    IBL has begun streaming a variety of content from India, including news, sports and entertainment in several Indian languages to 40 million Indians living outside of India and 1.2 billion Indian subscribers in India via www.IndiaTVLive.com, states an official release.

    “We look after the interest of the 20 million people of Indian origin (PIOs) and non-resident Indians (NRIs) who reside overseas. Hence I am delighted to launch this new platform that will connect the expatriates with instantaneous news and information from India,” Ravi has been quoted in media reports as saying.

    PIO TV will offer specialized programming to the Global Organization of People of Indian Origin (GOPIO) around the world. The channel distributed via the Internet on www.IndiaTVLive.com will offer daily news bulletins, business news & features, talk shows, sports coverage, segments on lifestyle, fashion, cuisines, culture, tradition, religion and an exhaustive coverage of Bollywood and Indian entertainment, the release adds.

  • Star One announces prime time soap ‘Betiyaan apni yaa…Paraaya Dhan’

    Star One announces prime time soap ‘Betiyaan apni yaa…Paraaya Dhan’

    MUMBAI: Star One is all set to launch one more soap to complete its prime time revamp. The soap Betiyaan apni yaa…Paraaya Dhan, slotted for Monday-Thursday 9 pm, will launch in October.

    Announcing the new programming block, Star India senior creative director Shailja Kejriwal said, “We are delighted to bring a whole new entertainment experience to our viewers. With the new season of Nach Baliye 2 coming soon, we are all set to revamp primetime viewing with the two new shows that boast of a combination of intense family and social drama. Paraaya Dhan and Saathi Re will also see fresh content and some exciting new faces on Star One. ”

    Betiyaan apni yaa…Paraaya Dhan is the story of six daughters & one son born into a zamindar family of Neelkanth Chanda Rana. It is the story of a father who rebukes his daughters because for him they are a burden. They have come into his life only want of a son. Krishna, the eldest daughter and the protagonist, is based on Lord Krishna’s character and personifies his depth of wisdom and understanding. A simple, honest and principled girl, she is the balancing factor amongst her sisters. Paraaya Dhan may be considered the story of many a home in India where it is believed that a son will take the family name further and a daughter is Paraya Dhan, says an official release.

  • Zee Sports back on Hathway; Incable blackout stays

    Zee Sports back on Hathway; Incable blackout stays

    MUMBAI: Zee Sports is back on Hathway Cable & Datacom in Mumbai, but has reached no agreement yet with Incablenet.

    The case with Incablenet comes up for hearing in the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) tomorrow. Incablenet had moved the TDSAT, seeking restoration of signals as “Zee Sports had not served a 21-day notice before blacking out the signals.”

    Sources say signals, however, were restored to Hathway today as the multi-system operator (MSO) had agreed to enter into a commercial agreement.

    Zee Sports was put back on cable networks in Pune after the Pune District Consumer Disputes Redressal Forum directed Zee Sports to restore the signals till further hearings on 21 September. Zee had restored the signals in Pune following the order, but moved the Commission.

    Zee Sports has the exclusive telecast rights for the DLF Cup between India, Australia and West Indies. The tri-series will last till 24 September.

  • Spielberg, Burnett film based reality show to air on Star World, Star Movies from May

    Spielberg, Burnett film based reality show to air on Star World, Star Movies from May

    MUMBAI: Star World and Star Movies will air the upcoming film based reality show On The Lot in May 2007.

    The show is being done by reality TV guru Mark Burnett and film director Steven Spielberg.

    In the US the show kicks off on Fox from 16 May 2007. The aim of the show is to give aspiring filmmakers from around the world the chance to earn a $1-million development deal at DreamWorks.

    16 undiscovered filmmakers will compete to win the support of the show’s viewers, as their fate will be decided by a weekly audience vote.

    The show will have a one-hour Film Premiere episode, followed by a half-hour Box Office results show.
    After a global search, applicants will be winnowed to a group of 16 talented filmmakers. These finalists will be brought to Hollywood, where they will be divided into teams and begin the journey toward their ‘big break’.

    Every week, the hopeful filmmakers will produce short films from a chosen genre, running the gamut from comedies to thrillers, personal dramas to romance, sci-fi to horror. They’ll have access to the best resources the industry has to offer — professional writers, cast and crew, and maybe even Hollywood celebrities.

    After the teams have battled time frames, budgets and all the usual chaos that goes along with filmmaking, their films will debut and be critiqued in front of a live audience during the Film Premiere episode. Judges will include a high-ranking motion picture executive, a prominent film critic and a succession of well-respected guests, such as directors who are experts in the week’s featured genre. But the filmmakers ultimately will be judged by the harshest critics of all … the public.

    Fox viewers votes will determine which film should be left on the cutting-room floor. On the next night’s Box Office results show, the director whose feature garners the fewest votes will be sent home. Reports indicate that Fox will use American Idol as a vehicle to create awareness for this show.

  • Eros acquires distribution rights for Aishwarya Rai’s ‘Provoked’

    Eros acquires distribution rights for Aishwarya Rai’s ‘Provoked’

    MUMBAI: Eros International plc has acquired the distribution rights of Provoked starring Aishwarya Rai for the UK and US, besides the Indian terriority.

    Provoked is based on the true story of a Punjabi woman named Kiranjit Ahluwalia who moves to England and marries a man who subjects her to violent physical abuse. In a fit of desperation, she resorts to killing him and is subsequently charged with first-degree murder and sentenced to life imprisonment. The movie follows her pursuit for justice, according to an official statement.

    Kiranjit Ahluwalia’s story has succeeded in transforming the British judicial system and the meaning of ‘provocation’ has since been redefined in the case of physically abused women. The story has been so influential that a book was published on her life called ‘Circle of Light’, by Rahila Gupta.

    Directed by Jag Mundhra Provoked also stars Miranda Richardson (The Hours, Phantom of the Opera, Get Carter), Robbie Coltrane (Harry Potter, Ocean’s 12, Golden Eye, The World is Not Enough), Nandita Das (Sandstorm, Fire, Earth), Rebecca Pidgeon (Heist), Deborah Moore (Die Another Day) and Naveen Andrews (Lost, The English Patient, Bride & Prejudice)

    The movie was screened at this year’s Cannes Film Festival and more recently to Patricia Hewitt, British Culture Minister, informs the statement. Eros will be announcing the release date of the film shortly.

  • Vijay TV youth show ‘Entertainment Quotient’ launches on 18 August

    Vijay TV youth show ‘Entertainment Quotient’ launches on 18 August

    MUMBAI: After the culmination of the talent hunt show Airtel Super Singer, Star India’s Tamil channel Vijay TV has announced the arrival of a new talent hunt property, Orbit EQ (Entertainment Quotient).

    Launching on 18 August, the show has been slotted for Friday, Saturday at 8 pm.

    According to an official release, EQ is an inter-collegiate state level cultural competition for TV. The main objective of this programme is to bring to centre-stage the budding talent in college students. Essentially EQ is a show where colleges in Tamil Nadu compete against each other in a set of entertainment events comprising of: choreo teams, classical music, classical dance, light music solo, light music group, fusion music, dramatics, mono acting, folk arts and variety entertainment.

    The college that emerges victorious in the finals will win loads of prizes and the prestigious Rolling Trophy. But that’s not all; this show could pave the way to exciting career options for all those talented college students who aspire to enter the entertainment industry, as EQ will emerge as the favourite hunting ground for fresh talent by an industry that is continuously on the look out for fresh and emerging talent, the release adds.

    The EQ of colleges will be judged by Malgudi Subha and dance master Sridhar. Prominent film personalities like Shobana will also be part of the jury panel. The show will be hosted by Shiva of Radio Mirchi fame. The co-host is Tejashri.

  • Zone Reality acquires a spy show

    Zone Reality acquires a spy show

    MUMBAI: Global media firm Zonemedia has signed their first deal with UK independent producer, Wall to Wall Media.

    Zonemedia has bought the reality game show Spy acquired for broadcast on its Zone Reality channel in India.

    Commissioned by the BBC, the 10 episode one hour series sees a group of ordinary people set the ultimate life-changing challenge – to leave their lives behind, lie to family and friends, relocate to a new city and assume a whole new identity – as they step into the shadows and become spies.

    Replicating the real training processes of MI5, MI6 and the CIA, recruits will find themselves under the most intense psychological pressure – but only one recruit will make it; the rest will have to return to their ordinary lives.

    Zonemedia senior VP channels Steve Cole says, “This groundbreaking show takes reality television to a whole new level as people are challenged to leave everything behind – Zone Reality is the perfect platform for such an innovative idea and I am confident audiences will find Spy riveting viewing”.

    Wall to Wall Media sales executive Nick Pawsey says, “We’re pleased to be in business with Zonemedia on intelligent reality series Spy. This deal now means the show is available in over 100 territories worldwide – a real testament to the universal appeal of the secrets of spying.”

  • Balaji to foray into other genres; start Sharjah operations

    Balaji to foray into other genres; start Sharjah operations

    MUMBAI: The country’s most successful soap factory is looking to spread its sphere of activity into new content terrain. In its latest annual report, Balaji Telefilms has announced its intent to expand into animation and mythological programming, among other new initiatives. Further it announced at its annual general meeting (AGM) today that it would be starting a wholly owned subsidiary at Sharjah for production of serials for the Middle East market.

    Balaji has a confirmed order for one and negotiations are on for more serials with different channels, the Bombay Stock Exchange (BSE) was informed today. The Sharjah unit is expected to be operational by the first week of November, the posting with the BSE states.

    Managing director and CEO Shobha Kapoor, while reviewing the company’s performance, says, “For years, the Balaji brand has been associated with soap content. We expect to evolve this into new business lines like animation, non-fiction content, ad films and mythological programmes. We are optimistic that with India emerging as an attractive outsourcing hub for animation, our established infrastructure and industry position will serve as a relevant foundation for growth in this new area.”

    Balaji Telefilms, which had entered the reality show genre with Kosmiic Chat and Kandy Floss, plans to reinforce this with non fiction content programmes like Karmiic Connection and Karbon Copy in 2006-07.

    The company produced 2113 hours of live action programming in 2005-2006 generating revenues of Rs 2.69 billion and net profit of Rs 594.2 million. This was buoyed greatly by the company’s realisation per hour of commissioned shows to Rs 2.2 million up from Rs 1.7 million last year. It is reportedly sitting with oodles of cash and looking for new investment avenues.

    The company invested Rs 131.7 million in captive equipment, three studios, and editing infrastructure in 2005-2006. The company is also reportedly drawing up plans to start a media educational academy in Pune.

    Today’s AGM also aproved the re-appointment of Akshay Chudasama and Pradeep Sarda as directors of the company. The re-appointment of Deloitte Haskins & Sells and Snehal & Associates as joint auditors was also passed during the meeting.