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Category: News Headline

  • Galaxy Multimedia to tap capital market

    Galaxy Multimedia to tap capital market

    Here’s another player leaping into the television universe. Galaxy Multimedia Ltd, a multimedia and entertainment company, is coming out with an initial public offering (IPO) of Rs 25 million at par to part finance its 5,000 square feet high-tech studio that is currently being set up at Andheri in Mumbai. The studio, offering high-end fully digital post production facilities, is scheduled to commence operations from April. The total project cost to set up the studio is estimated at Rs 120.5 million.

    The company, promoted by Vipin Rai Bhayana, has its main focus on multimedia which includes computer based tutorials (CBTs) for schools and colleges, production of TV software.

    “We intend to provide a one-stop shop for all production, post-production and multimedia requirements ensuring convenience and constant value-addition to customers. The studio we are setting up is totally integrated – both video and audio,” said Galaxy chairman and managing director Vipin Bhayana.

    The company will finance the studio project through an initial equity infusion of Rs 100 million and Rs 25 million through rupee term loans. Out of the Rs 100 million equity, the promoters have already invested Rs 51 million and Rs 24 million has been raised from FIIs (DSP Merill Lynch and Alliance Capital) and associates. The company will raise the further Rs 25 million from the public. The five-year rupee term loan of Rs 25 million has been raised from Bank of India (BoI). The lead manager to the issue is UTI Securities.

    Describing the share holding pattern of the company, Mr Bhayana said that the management (including promoter and board of directors) holds 51 per cent, associates hold 14 per cent, NRIs and OCBs hold six per cent, FIIs hold four per cent and the public will hold 25 per cent.

    The company has pre-empted its present multimedia installed capacity for 18 months. It has entered into a tie-up with Schoolnet India, a company formed by IL&FS, for 18 months and will be providing it with 10 CBT titles for K-10 programmes.

    Galaxy Multimedia is currently working on the development of education aids. The MoU with Schoolnet India was signed in October 1999.

    Galaxy has also entered into a joint venture with another media company for producing the television serial Hotel Hindustani for Zee TV that has been sold to Zee TV through an associate company Buddha Films. The serial is scheduled to be on air from February-end. The company is currently working on four more teleserials slated to be shown on ther channels.

  • VOOM HD Networks unveils high-definition gaming channel

    VOOM HD Networks unveils high-definition gaming channel

    MUMBAI: A subsidiary of Rainbow Media Holdings LLC, VOOM HD Networks announced the launch of Gameplay HD, the first high-definition channel solely dedicated to the world of video gaming.

    VOOM HD Networks is the provider of the largest suite of high-definition channels nationwide in the U.S. and are available nationally on Echostar’s Dish Network. The channel will offer televised tournaments and programming for gamers across the nation.

    The channel also announced its first deal with CNET Networks’
    Gamespot, one of the leading sources for gaming information, to produce two new series for the channel: GameSpotting, a half-hour series of news, reviews and previews, and CinemAddicts, an hourly series featuring video games in a cohesive cinematic story.

    VOOM HD Networks general manager Greg Moyer said, “VOOM provides a platform for viewers who are looking to maximize the power of HD, and in the gaming category Gameplay HD is the leader in this next generation of channels. The channel takes advantage of the growing demand for global entertainment and video gaming and now, with new advancements, the manufacturing of games in high definition. Working with CNET affords us the ability to collaborate with an authoritative voice as we delve into this gaming revolution.”

    “With HD playing a leading role in next generation game content, we’re excited to be working with a partner who shares our belief in developing authentic brand experiences around points of passion to bring the GameSpot name and programming to this platform in a way that celebrates games and gamers in true high-def format,” for “This also underscores how far the production values of broadband video have come and how well Internet-native content can translate to the most demanding of broadcast mediums,” said CNET’s Games & Entertainment division’s vice president of strategy and development Keith Bencher.

    Mark DeAngelis serves as vice president of programming for Gameplay HD. Earlier, DeAngelis was VP of Creative Services for Rainbow Media, and an independent producer for 15 years, where he collaborated on projects for Madonna and The Rolling Stones, Times, Rolex, and Hearst Entertainment.

    “Gameplay HD offers the most comprehensive content dedicated to the video game industry, and delivers it in hi-definition and 5.1 surround sound. Gameplay HD also offers the most worldwide tournament coverage, bringing together gamers from across the globe. We look forward to working with Gamespot to create great originals for the channel that will continue to add to our already growing library of visually stunning HD programming, states DeAngelis.

    As gaming becomes more mainstream, it has slowly invaded movies, television, and other forms of mass media. The channel features three tiers of entertainment including news and information from the industry, original series & specials, and tournaments and competitions from around the world. Within each tier of entertainment Gameplay HD will feature games from publishers such as Ubisoft, NCsoft, SEGA and Blizzard Entertainment.

    The programming includes:

    Original Series & Specials:

    The original programming block includes the co-created CinemAddicts with GameSpot, where viewers are presented a cinematic video game experience through some of the best next generation games out there. It brings the stories inside the game to life, in an entertaining way, by bridging actual gameplay with cinematics to deliver a cohesive storyline. Among the games featured are Condemned: Criminal Origins and Prince of Persia:The Two Thrones.

    Advanced Training turns the average gamer into an amazing gamer. This innovative series brings the top pro gamers and developers to assist in making you a pro by giving game exclusives, key strategic insights into how to play the game and hidden secrets and tips to give you that definitive edge.

    Tournaments:

    This month, the channel covers the 2005 digital life Global Gaming League (GGL) Tournament, the leading competitive video gaming league for gamers of every skill level as video gamers compete for their share of $100,000 in prizes.

    The Blizzard Worldwide Invitational Tournament event is also covered from Seoul, Korea where the world’s best gamers of Warcraft and Starcraft converge at the Coex Center for the finals.

    Building on the popularity of gaming in the Asian market, Gameplay HD covers the Guild Wars World Championship in Taipei, Taiwan. Throughout the three months of qualifications and after a fiercely competitive Regional Playoff, six teams have proved their mettle and will be representing their guilds and their regions at the Taipei Game Show. Team members from Brazil, Alaska, Finland and Korea, among other countries, will take the stage to determine who will be the 2006 Guild Wars World Champion.

    News & Information:

    CNET Networks’ Gamespot produces a half-hour series called GameSpotting that features interviews with video game editors, designers and publishers. Games featured include the Xbox 360 high definition games, like Amped 3, and Peter Jackson’s King Kong: The Official Game of the Movie.

    The Art of Play show gives viewers a full access pass inside next generation games through stunning gameplay footage, in-game cinematics, and voice-over that take viewers on a visceral tour through each game’s highlights. Games featured include: Peter Jackson’s King Kong and Beyond Good & Evil.

    Price Waterhouse Coopers forecasted video games to eclipse music as the second most popular form of entertainment by 2008 with worldwide consumer spending on video games estimated to hit $55 billion compared to $34 billion for recorded music. According to the Entertainment Software Association (ESA), U.S. computer and video game software sales grew four percent in 2005 to $7 billion, a more than doubling of industry software sales since 1996. In 2005, the ESA also reported more than 228 million computer and video games were sold, almost two games for every household in America. The worldwide market for video games and interactive entertainment will grow 44% from $23.2 billion in 2003 to $33.4 billion in 2008, according to DFC Intelligence.

  • Discovery Channel content to be preloaded in select Nokia handsets

    Discovery Channel content to be preloaded in select Nokia handsets

    MUMBAI: Discovery Communications has formed a mobile content deal with Nokia which aims at delivering to consumers Discovery’s high quality, knowledge-based content preloaded onto Nokia s latest mobile devices and wireless personal devices.

    This tie-up is symbolic of Discovery’s aggressive efforts to create content for new distribution platforms across the globe, and Nokia’s drive to leverage its mobile technology to offer consumers great user experiences.

    The initial phase of the deal provides consumers ready access to a Discovery produced “Best of Discovery” montage clip on the Nokia N92 mobile device and Nokia 770 Internet Tablet. The clip includes inspiring and engaging video of nature scenes, landscapes, animals, and city-scenes. Also, Discovery’s content will be demonstrated on Nokia’s devices in many trade shows.

    Discovery Communications senior executive VP of strategy and development Donald A. Baer said,”Cooperating with Nokia, which is widely recognized as one of the most innovative companies in the world, allows Discovery to bring its high quality content to consumers wherever they are, whenever they want it.The worldwide appeal, utility and flexibility of Discovery’s content make it a great fit for on-the-go applications.”

    “Discovery Communications is an ideal partner in cooperation to show the world the very best of what both companies have to offer-engaging and knowledge-based information on sophisticated and innovative devices.This collaboration allows Nokia to continue its leadership in mobile communications as we find better and smarter ways to connect people to our partners’ information and entertainment services,” said Nokia senior VP of multimedia experiences Ilkka Raiskinen.

    Discovery has now deployed its content for mobile devices from 21 different wireless carriers in 11 countries. launched direct-to-consumer WAP portals in the United Kingdom and Asia as well as a broadband portal in the U.K. and rolled out video on demand with 20 carriers in 10 countries.

  • Endemol India upbeat as ‘Fear Factor’ opens well for Sony

    Endemol India upbeat as ‘Fear Factor’ opens well for Sony

    MUMBAI: Endemol India is upbeat as the opening numbers of Fear Factor India have come in. The show opened with TVRs of 4.6 in the C&S 4+ Hindi speaking markets (HSM), whereas it garnered TVRs of 3.2 in the C&S 4+ all India markets.

    Fear Factor, which airs on Sony Entertainment India’s flagship channel SET, has opened as the channel’s top rated show.

    And it’s not just Fear Factor India that the production company is buoyant about. At present Endemol has three shows on two channels in the 8 pm – 11 pm band. On Sony it has Deal Ya No Deal from 8 – 9 pm and Fear Factor from 9 – 10 pm. On Star One, Endemol has The Great Indian Laughter Challenge Dwitiya (TGILCD), which airs from 10 – 11 pm.

    Speaking to Indiantelevision.com on Fear Factor India, an elated Endemol India managing director Rajesh Kamat said, “We are very happy with the opening numbers of Fear Factor and they have met our expectations. We are confident that the numbers from here on will only be on the rise as word of mouth is sure to bring in new viewers to the show.”
    Dwelling on the factor that worked for the show, Kamat said, “Fear Factor has a novelty aspect, which has a potential of clicking with the audience. Apart from that, the chance of seeing celebrities in real life situations that involve thrill and drama has also worked for the show.”

    Kamat is of the opinion that even without the celebrity factor, the show will continue to deliver numbers because of its freshness.

    Now moving on to TGILC Dwitiya on Star One, which opened at a TVR of 5.06 in the C&S 4+ HSM. This was the first major project Endemol started work on after setting shop in India. If one had to compare the opening ratings of the first season, TGILC has surely seen a considerable increase in ratings. The first season opened with TVRs of 2.3.

    Kamat said, “This is surely a good sign for us as the show has opened at 5 TVRs. One must keep in mind the fact that Star One is having connectivity problems in Mumbai and despite that the ratings is good. If we had had no problems in Mumbai, I’m sure the show would have opened at a TVRs of 7, because at the end of the day Mumbai is an important for any channel.”

    The format of Deal Ya No Deal underwent a revamp when the anchor R Madhavan called it quits. Post his departure, in came the suave Mandira Bedi who has kept the show going. However, on the numbers front, Deal Ya No Deal hasn’t managed to deliver much.

    But there’s more to come from Endemol India’s kitty. The high-tension game show Heartbeat will soon be launching on Star One. So one can expect a lot of activity from Endemol in terms of new programming and also good ratings.

  • Verizon, CBS reach programming deal on FiOS TV

    Verizon, CBS reach programming deal on FiOS TV

    MUMBAI: Verizon and CBS have reached a deal in which Verizon will carry CBS programming on its new television service.

    The companies announced a comprehensive retransmission consent and video-on-demand (VOD) agreement, which includes analog, digital, multicast and HD rights to programming on CBS owned-and-operated television stations; local VOD content from those stations; and CBS Television Network VOD content, including such current popular network series as CSI,NCIS and Survivor.

    Verizon will offer the programming on its new fiber-optic TV service FiOS TV, which is now available in parts of seven states of the U.S. All FiOS TV subscribers with a set-top box will receive the CBS Television Network VOD content at no incremental cost, which will also be true for FiOS TV subscribers in CBS owned-and-operated markets with regard to the local VOD content.

    “With each subscriber that Verizon’s FiOS TV adds, CBS will directly benefit, and therefore, we look forward to our partnership as Verizon showcases our programming both in our (owned-and-operated) markets and across the country,” CBS chief executive Leslie Moonves said in a statement.

    Verizon Chairman and CEO Ivan Seidenberg said the deal expands the market for both companies.”For us, it means we can offer our customers the tremendously valuable content provided by the CBS Television Network and local broadcast stations,” Seidenberg said.

    CBS locally owned-and-operated stations are in all Verizon TV markets except Washington, D.C.Verizon said its retransmission consent agreement with CBS is its largest such deal. Prior to the deal, Verizon provided programming from the CBS owned-and-operated stations under a special agreement with CBS.

  • Ficci entertainment division head Siddhartha Dasgupta quits

    MUMBAI: At a time when the Indian entertainment industry is booming, the revolving door is not restricted to just media companies. It has started spinning at apex chambers of commerce too.
    Take, for example, the Federation of Indian Chambers of Commerce and Industry (Ficci) that had taken a lead to propel the entertainment and media sector in the forefront in the country. Its joint director and head of entertainment division, Siddhartha Dasgupta, has left to join a digital movie distribution company, UFO Moviez, the digital cinema network launched by Valuable Media Pvt Ltd late 2005.
    Sources in Ficci confirmed that Dasgupta has quit, but refrained from handing out other details like a likely replacement for him. At the moment, a high-level delegation of the apex chamber of commerce, including its secretary-general, Dr Amit Mitra, is on a business tour of China where rampant video and audio piracy has rattled some of the visiting businesspersons.

    Apart from Dasgupta, two other senior functionaries of Ficci in recent times left to join the Reliance group, promoted by Mukesh Ambani. A possible casualty in the animation division of Ficci has been averted, according to the sources.

    Meanwhile, UFO Moviez aims to be at the forefront of the convergence of entertainment and technology. Its goal: create the world’s largest integrated digital cinema network capable of digitally delivering and exhibiting motion pictures and alternative content. Dasgupta’s experience at Ficci would help the top management of the company.

    UFO Moviez is aiming to set up 500 digital movie halls by middle of 2006 at an investment of Rs 800 million and then scale it up progressively to 2,000 cinema halls across the country at a total investment of Rs 3 billion.

    UFO Moviez is the digital cinema network launched by Valuable Media Pvt LTD, where the lead investor is the Delhi-headquartered Apollo International Ltd.

    At the launch of the network, Apollo group’s head OS Kanwar had said, “Earlier businesses were driving technological applications, now technological applications are driving business models. UFO Moviez digital cinema is a prime example of how Indian technology whiz kids have adopted technology to deliver the best of content even to the remotest Indian towns.”

  • WPP’s first quarter revenues up 18 per cent

    MUMBAI: Advertising conglomorate WPP Group PLC has reported an 18 per cent rise in it’s first quarter revenue with record new business and strong growth across most of the group. The acquisition of Grey Global was also instrumental to this growth to an extent.

    The agency said that revenues excluding currency fluctuations and acquisitions for the three months to 31 March rose to ?1.37 million, in line with analyst forecasts and from ?1.11 billion a year earlier.

    The Middle East region has become the fastest growing region for WPP, while Asia Pacific, India and China continued their rapid growth. “Asia Pacific remains strong, with India and China continuing the rapid growth seen in 2005, with first quarter like-for-like revenues up sharply again. Western Continental Europe, although still relatively more difficult, has seen some improvement, particularly in Germany,” the agency said.

    The agency also said that it was on track to increase operating profits by 10-15 per cent annually.

    However, WPP said that Britain remains the slowest advertising market in the world as the agency had reported strong first-quarter double digit growth across all its territories but its home region, which recorded a growth of nine per cent. “All regions, with the exception of the United Kingdom, showed double digit revenue growth,” WPP said in a trading update.

    WPP said like-for-like revenues rose almost five per cent and that it had won a record level of new business for the quarter at ?1.30 billion.

    The agency is also considering increasing its share buyback programme, two per cent of total shares annually, at a cost of about ?175 million, buoyed by favourable market conditions.

    “Given the group’s cash flow of over $1 billion and under-geared balance sheet, it may be advantageous to repurchase more outstanding shares. In the first quarter of 2006, shares were repurchased for cancellation at an annualised rate of 2.5 per cent. The (rise in like-for-like revenue) maintains the improvement in the organic growth rate of the last eighteen months, which began with the last two quarters of 2004 and continued through 2005. This also reflects the continued relatively benign economic environment across the world and the continued strength of the US economy,” the agency said.

    The strongest growth for the agency came from media investment management, which was fuelled by demand for online and interactive marketing and communications. WPP’s public relations and public affairs grew by just over 14 per cent, consultancy by almost 10 per cent.

  • CNN once again has its ‘Eye on China’

    CNN once again has its ‘Eye on China’

    MUMBAI: News broadcaster CNN will once again dedicate its global resources to China for incisive debate, programming and insights next month. The network will have its second week-long Eye On China. A 20 member newsgathering team offers analysis, documenting the latest cultural, economic, and social developments in a country rapidly emerging as a pre-eminent global force.

    The week begins with CNN Connects – an hour long debate on The Price of Progress and continues with a blend of live reporting and features from Shanghai in the show CNN Today. Two editions of the talk show Talk Asia also go behind the headlines with China ‘s leading newsmakers.

    Following on from debates in Davos, Beirut , Mumbai, Beijing and New York CNN Connects visits Shanghai for an hour-long round table debate evaluating the issues in balancing double-digit economic growth and the environmental challenges this presents.

    Jim Clancy anchors The Price of Progress with a panel of environmental experts including Jim Harkness of the World Wide Fund for Nature, academics and specialists debating in front of a live audience including students from China’s prestigious and internationally respected Fudan University.

    Throughout the week, Kristie Lu Stout reports live from locations around Shanghai for CNN Today. In addition, Kristie and correspondents Stan Grant, Mike Chinoy and Tara Duffy bring a number of reports charting contemporary China in all its fascinating complexity. Topics cover a wide range of issues including Shanghai ‘s rise as a new business Mecca , preparations for the 2008 Beijing Olympics, the nation’s growing environmental challenges, the rise of the blogger and a look at China ‘s new sexual revolution. And, of course, Shanghainese food.

    With the Olympics just two years away, China ‘s political, environmental, and economic outlook is being scrutinised as never before. Eye On China reveals the drive behind modern China, assessing how its inhabitants are adapting to a more affluent economy while also examining efforts to balance modernisation with traditional values.

  • Trai urges unified licensing to spur next generation networks

    Trai urges unified licensing to spur next generation networks

    MUMBAI: Telecom regulator Trai today said that operators should be encouraged to move to next generation networks (NGN) for effective utilisation of spectrum for mobile services asked government to act fast on unified licensing regime to make NGN a reality.

    Trai’s recommendations for a unified licensing regime, dated 13th January 2005, should be considered expeditiously so that various operators can make best use of NGN platform to provide all types of telecom, data, video and broadcast services through a single licence, Trai said in its recommendations.

    A statement issued by Trai today says: “Due to technological advancements there is a trend towards unification of networks & services leading to the emergence of Next Generation Networks, which are predominantly IP based. The NGNs enable the service providers to provide a wide range of services (voice, data, video) over the same platform.”

    In addition, NGNs also enable fixed-mobile convergence / substitution resulting into reduced demand on mobile services spectrum, the statement points out.

    Increase in broadband penetration is a must for wider deployment of NGN services and since the policy targets for broadband have not been met, it is time to undertake the review of various recommendations on broadband access related issues, Trai said, adding that unless various operators are able to deploy NGN in access to provide multiple services its full benefits cannot be made available to customers.

  • Intelsat appoints Jeffrey P Freimark as CFO

    Intelsat appoints Jeffrey P Freimark as CFO

    MUMBAI: Intelsat, Ltd. has announced the appointment of Jeffrey P Freimark as its executive VP and chief financial officer, effective on the resignation of Robert Medlin.

    Medlin has been serving as acting chief financial officer of Intelsat since June 2005, and is expected to resign from his post in April 2006.

    Jeffrey P Freimark resigned on 15 March as executive vice president, chief financial and information officer of Beverly Enterprises Inc., a provider of healthcare services to the elderly.

    Beverly Enterprises was sold to Pearl Senior Care, Inc. in a transaction that closed on 14 March, 2006. Prior to his role at Beverly, Freimark held senior-level positions at a number of public companies, including serving as chief financial officer of OfficeMax Inc., CEO, president and CFO for Grand Union Company, and chief financial officer of Pueblo International, Inc.

    Freimark, who holds an MBA in accounting and taxation from the Stern School of Business at New York University and a JD degree from New York Law School, is a Certified Public Accountant and a member of the New Jersey Bar.

    Intelsat chief executive officer Dave McGlade says, “Jeff’s experience in working with the capital markets and building strong finance and accounting teams will be very valuable as Intelsat completes the PanAmSat merger. Including his work on integrations, Jeff has successfully implemented significant cost reduction and process improvement programs, demonstrating his strong abilities and effectiveness in driving company value. We know that he will be a major contributor at Intelsat.”

    McGlade also noted the role played by Robert Medlin for Intelsat: “Bob Medlin has been very important to Intelsat over the past several months, and he has assisted in maintaining solid financial controls and processes during this period. All of us at Intelsat are appreciative of the efforts of Bob and his team.”

    Medlin, a senior managing director of FTI Consulting, Inc., will continue to support Intelsat’s financial operations for an interim period on a consulting basis.