Category: Software

MUMBAI: Market leader Dish TV India is planning a Global Depositary Receipt (GDR) issue as it pursues to raise up to $200 million to fund its expansion programme, a source in the company says.

Reversing its earlier plan, the Essel Group company has decided to have a mix of GDR and FCCBs (Foreign Currency Convertible Bond). “We will simultaneously have the FCCB and GDR issue. The size is yet to be decided and will depend on the market situation then,” the source adds.

Dish TV had made a revised proposal to the FIPB (Foreign Investment Promotion Board) seeking to raise up to $200 million via GDR and FCCBs. “In our fresh application, we sought changes in both the amount and the instrument for raising money. By going in for a GDR, we will be able to raise equity capital as well. In the mix, the FCCB will be the debt component,” the source says.

Dish TV had earlier got the FIPB nod to raise $150 million through FCCBs.

“We have now got the FIPB clearance to raise up to $200 million and through GDR and FCCBs. With this, we will complete our funding requirement before we operationally break even,” the source adds.Dish TV has already received Rs 7.25 billion out of the Rs 11.4 billion rights issue in three tranches. The promoters of Dish TV had offloaded 5.8 per cent stake to raise Rs 2.7 billion. The shares were sold in the open market at Rs 49 per share.
“The promoters currently hold 73.5 per cent stake. With the GDR issue, this will be diluted by around 10 per cent. But this will depend on the price and size of the issue,” the source avers.

Dish TV has mopped up 5.9 million subscribers and is targeting a revenue of Rs 12.5 billion for the fiscal ended 31 March 2010, a jump of 70 per cent from the year-ago period.

Shares of Dish TV closed Wednesday at Rs 44, up marginally by 0.11 per cent from its previous close on the BSE.

MUMBAI: The Telecom Regulatory Authority of India (Trai) has announced that the total broadband subscribers in India have increased to 6.98 million in August as against 6.80 million in July.

Thus, in the month of August, 0.18 million new customers subscribed to high speed connectivity, showing a growth of 2.65 per cent over the previous month.

On-year-on-year basis, internet subscribers has grown from 4.73 million in 2008 to 6.98 million in 2009, an addition of 2.25 million.

Meanwhile, Trai has also announced that the total telephone connections (wireline and wireless) have reached to 494.07 million subscribers as compared to 479.07 million in July 2009.

With this growth, the overall tele-density has reached 42.27 per cent at the end of August 2009.

MUMBAI: With the new fall television season heating up this week in the US, Comcast has announced the findings of its TV Pulse Survey.

The survey reveals that 81 per cent of individuals plan to watch primetime TV this fall and nearly 60 per cent state the fall TV season is important to them.

The data also reports that while many consumers plan to tune into this year’s fall primetime line-up live, the usage of time-shifting technologies such as On Demand, the internet and through digital video recorders (DVRs) continues to increase.

The company says that the research clearly indicates that time- and place-shifting convenience is complementing live TV viewing and making entertainment better for consumers.

Fall primetime trends: With several new programmes debuting and many favourites returning to primetime TV, when viewers were asked what they planned to watch the most this fall, they said – drama series (68 per cent), comedy (67 per cent), movies (61 per cent), news/educational (47 per cent),
sports (43 per cent) and reality TV (41 per cent).

MUMBAI: Fox Mobile Entertainment has roped in Airborne Mobile, a full-service mobile media company, to develop and distribute mobile personalisation content based on The Cleveland Show. The animate series will premier on the Fox network on 27 September.

The initial product offering will be available on all major North American carrier decks.

Says Fox Mobile Entertainment SVP content Andrew Stalbow, “We‘re pleased to work with Airborne Mobile on Fox‘s newest animated series and confident that they will meet our expectations.”

MUMBAI: The Reader‘s Digest Association (RDA) is rolling out a new global web platform in more than 40 international markets including China, where the platform is scheduled to debut live this week.

The launch is a key part of a wider digital monetisation strategy that will see Reader‘s Digest leverage its branded content on a variety of platforms.

Reader‘s Digest Community president Eva Dillon said, ” Reader‘s Digest continues its transformation in creating a global brand experience online. This new platform allows each of our international markets to focus on driving digital revenue via advertising sales and e-commerce, and creates a compelling online experience for new and existing customers.”

The global web platform is being developed by RDA Interactive (RDAi), the company‘s core digital team. The platform is launching in China (this week) followed by Portugal, Spain, Belgium (French and Flemish), Germany, Austria, Switzerland, Russia, Romania, France, India, Singapore, Malaysia, Philippines, Hong Kong, Brazil and Australia through the end of 2009.

MUMBAI: BSkyB is all set to challenge UK media watchdog Ofcom, accusing it of exceeding its legal powers and insisting the former to cut down prices for supplying its premium sports and movie channels to third-party platforms.

In response to the latest Consultation Document in Ofcom’s Pay TV market investigation, BskyB has mentioned that this is an extreme and unprecedented intervention in circumstances in which Ofcom has not found Sky to be in breach of any competition law and has acknowledged that good outcomes are being delivered for consumers.

“Ofcom is seeking to treat Sky’s premium channels as regulated assets in order to pursue a clear agenda -to promote the growth of Pay TV retailers operating on DTT, and to encourage Pay TV retailing on new IPTV platforms. The proposals are in essence a form of industrial policy under which Ofcom wishes to step in and seek to ‘manage’ the market in an effort to promote the growth of particular high-cost technologies that it has chosen to favour,” mentioned a statement prepared by BSkyB.

Additionally, BskyB has accused Ofcom to have failed to think through the consequences of the proposal. While Ofcom acknowledges that its proposals go far beyond what would be required under competition law, it fails to recognise that, in the circumstances of the present case, such a departure from orthodox competition law principles renders its proposed intervention unlawful.

In its submission, BSkyB argues that “Ofcom appears to accept no meaningful constraint at all on the use of its sectoral competition powers.”

Additionally, the model used by Ofcom to calculate financial model of profitability of Sky’s notional premium channels business contains a number of basic but material errors which affect the results substantially. “Once those errors are corrected within Ofcom’s model, the model indicates that, were Sky actually to charge the wholesale prices at the low end of Ofcom’s range, the notional premium wholesale business would expect to lose more than ?700 million over 4 years and would expect to incur an average loss as a percentage of sales of 15%. This is a clear illustration why regulators such as Ofcom should not seek to manage markets,” added the statement.

“Ofcom’s proposals are essentially confiscatory, and suggest that the moment a firm makes a return above its cost of capital, Ofcom will price regulate in order to ensure that its returns fall back into line with those implied by Ofcom’s spreadsheet models of perfect competition. If implemented, Ofcom’s proposals would send an extremely negative message about the UK as a place to invest, and Ofcom as a responsible licensing authority,” concluded the statement.

MUMBAI: Sony Pictures Television (SPT) has confirmed that action channel AXN is now being aired across the Adriatic region of Europe, including Croatia, Serbia, Slovenia, Macedonia and Montenegro, reports C21 Media.

SPT also said that cable, DTH and IPTV systems in the region are now carrying the channel with the new feed managed by AXN general manager in Central Europe Eddie Nelson.

MUMBAI: The Asiasat 5 communications satellite of Asian satellite operator Asiasat began commercial service on 17 September, at the orbital location of 100.5 degrees East with enhanced power, coverage and connectivity, for advanced satellite broadcasting, telecom and broadband services across the Asia Pacific.

Following its launch on 12 August and the successful completion of in-orbit testing to verify the satellite‘s performance and integrity, Asiasat 5 is now operational at 100.5 degrees East, the orbital slot occupied by AsiaSat 2 since 1996.

Traffic transfer from AsiaSat 2 to AsiaSat 5 has commenced and is expected to be completed over the next few weeks.

As part of the restructuring, the movie business will move into Planet E-Shop. The Hindujas are involved in movie financing and have shown interest in film distribution as well. The latest film set for release is Teen Patti, a mega budget movie.

“Planet E-Shop will house the movie side of the Group’s business,” says Indusind Media & Communications CEO and MD
Ravi Mansukhani.

CVO, the cable movie channel, will, however, continue to operate under IndusInd Media & Communications (IMCL). “The channel is part of IMCL and there are no plans as of now to shift this out,” says Mansukhani.

The distribution of channels for retail and commercial will fall under Planet E-Shop. It will also be engaged in marketing and distribution of foreign channels which seek downlinking in India.

“We are distributing ESPN in Mumbai and are in talks with two other major broadcasters We also have taken up marketing and distribution of foreign channels like Arirang and Miracle Channel. We are looking at signing up three more channels this year,” says Mansukhani.