ITV

Category: GECs

  • Pyramid Saimira plans Rs 3 billion film funding, ties up with banks

    Pyramid Saimira plans Rs 3 billion film funding, ties up with banks

    MUMBAI: Financial institutions are structuring film financing in innovative ways. Chennai-based cinema chain operator Pyramid Saimira Theatre Ltd has tied up with banks, an insurance company and a film completion bond firm to provide an annual corpus of Rs 3 billion for funding film producers.

    IDBI Bank and HDFC have taken the lead and the guarantees from Infinity Film Completion Services (IFCS) will be re-insured by General Insurance Corporation (GIC). IFCS is a division of Infinity India Advisors Pvt Ltd.
    Pyramid Saimira plans to produce 25 movies through this route. “Our company will act as the guarantor to the banks for funding the producers. We will own all rights of exploitation including theatrical, satellite TV and international. This will provide a content pipeline of 25 films for our theatres. As we are also in film distribution, this will complete the value chain in the movie business,” says Pyramid Saimira managing director PS Saminathan.

    Pyramid has entered into an MOU with IFCS which will issue the completion guarantee for films to be procured by the company in the languages of Tamil, Telugu, Kannada and Malayalam. These guarantees are fully re-insured by GIC. This agreement is a major step towards creation of film content supply chain for us and in effect indirectly funds close to Rs 3 billion of working capital as off balance sheet funding,” says Saminathan.

    The company will, thus, be able to build of library of movies while feeding the supply chain to the theatres and the distribution business. “Besides, film producers will get access to cheaper and organised finance. The banks will be charging around 14 per cent interest as against the unorganised charge of 40 per cent,” says Saminathan.

    Pyramid Saimira recently raised Rs 844.4 million through a public float to part-finance its expansion plans. This included refurbishing theatres after taking them on long term lease and installing digital systems of delivery.

  • Guild submits representation on piracy and censorship to Shabana Azmi

    Guild submits representation on piracy and censorship to Shabana Azmi

    NEW DELHI: The Film & Television Producers Guild of India has submitted a set of proposals to Shabana Azmi, chairperson of the Core Group on Piracy (Exhibition Sector including Multiplex and issues of Certification) outlining its strategy to fight piracy and given its views censorship.

    This Core Group is amongst the five groups created by the information & broadcasting ministry recently consisting eminent personalities from the Indian entertainment industry to focus on the significant problems confronted by it.
    Sushilkumar Agrawal, honorary treasurer of the Guild, apprised the chairman about the grave repercussions of piracy and censorship on the functioning of the entertainment industry at a meeting of the group on 10 January.

    Following this, Azmi had requested the Guild to deliver its suggestions officially by inscription for setting the requisite system in place. A spokesperson for the Guild told indiantelevision.com that it was confident that its proposals would be considered in a constructive manner and Azmi will initiate appropriate corrective action.

    The Guild was appreciative of the initiatives undertaken by the Union government to solve critical matters concerning the entertainment industry. On its part, the Guild will extend its unflinching co-operation to strive for the welfare and progress of the Indian entertainment sector.

  • Star World to telecast ‘Golden Globes’ live on 16 January

    Star World to telecast ‘Golden Globes’ live on 16 January

    MUMBAI: Star World is ready to kick off the year with the live telecast of the 64th Annual Golden Globe Awards on 16 January at 6.30 am and a prime – time special telecast at 8 pm.

    This year the film that that leads the race as the most nominated film overall is Babel, which receives seven nods, including one for Best Motion Picture (Drama). Clint Eastwood has drawn dual director nods for his World War II epics Flags of Our Fathers and Letters from Iwo Jima, while Leonardo DiCaprio grabs two nominations for his starring roles in The Departed and Blood Diamond.

    The British comedy actor Sacha Baron Cohen is nominated Best Actor (Comedy or Musical) with his controversial comedy film, Borat: Cultural Learnings of America for Make Benefit Glorious Nation of Kazakhstan, which will also compete with The Devil Wears Prada, Dreamgirls, Little Miss Sunshine and Thank You for Smoking for the award of Best Motion Picture (Comedy or Musical). Beyoncé Knowles received a nod for Best Actress (Comedy or Musical) for Dreamgirls, while Jennifer Hudson, the American Idol runner-up turned Golden Globe front-runner, received a nomination for Best Supporting Actress (Comedy or Musical), informs and official release.

    For television, Heroes, the brand new drama series, has been nominated for two awards – Best TV Series (Drama) and Best Supporting Actor (Drama). Masi Oka, the Japanese actor who propelled his way from anonymity into one of the most beloved characters of the show, will compete with veteran character actors like Jeremy Irons and Jeremy Piven, for the acting award.

    Apart from Heroes, another brand new series Ugly Betty is also generating almost the same amount of attentions, receiving two nods – for Best TV Series (Comedy or Musical) and Best Actress for America Ferrera’s leading role. The other hot newcomer is 30 Rock, for which Alec Baldwin has been nominated for the award of Best Actor (Comedy or Musical). He is competing against Zach Braff (Scrub), Steve Carrell (The Office), Jason Lee (My Name is Earl) and Tony Shalhoub (Monk).

    Also in the centre of the Golden spotlight is Grey’s Anatomy. The medical drama has received four nominations, including Best TV Series (Drama). Patrick Dempsey is nominated for Best Actor, when Ellen Pompeo and Katherine Heigel receive nominations for Best Actress and Best Supporting Actress. Last year’s winner of Best TV Series (Comedy or Musical), Desperate Housewives, is back again this year to do battle with Entourage, The Office, Ugly Betty and Weeds, adds the release.

    The evening will welcome star-studded presenters like Reese Witherspoon, Felicity Huffman, Salma Hayek, Ben Stiller and Justin Timberlake, George Clooney, Rachel Weisz, Sarah Jessica Parker, John Stamos, Cameron Diaz, Jake Gyllenhaal, Hilary Swank, James Woods amongst others.

    Warren Beatty will receive this years’ Cecil B. DeMile Award from the Hollywood Foreign Press Association, who organizes the event, for his outstanding contribution to the entertainment field. The Golden Globes honour outstanding achievement in both motion pictures and television, making it one of the few ceremonies to cover both industries.

    The telecast for the same will follow the schedule below:
    – 16 January at 9am HKT (Live), 8pm HKT (prime-time special telecast)
    – 17 January at 00:20am and 11am
    – 21 January at 12pm (repeat).
     

  • Watch ‘HEROES’ every Wednesday at 9 p.m. on STAR WORLD

    MUMBAI: They thought they were like everyone else… until they woke with incredible powers! When they all come together, these ordinary people with extraordinary abilities will realize that their ultimate destiny is nothing less than saving the world…Tune in to the most anticipated series of the year- HEROES, this Wednesday, 31 January 2007 at 9 p.m. only on Star World.

    This Wednesday, in another exciting episode of Heroes, watch Nathan refusing to admit that he can fly. Peter discovers that his father had depressions and killed himself. Someone in Mohinder’s apartment plants surveillance bugs, but he and his father’s friend discover them. Hiro finds a comic book that shows exactly what happened to him last episode.

    The author of the comic book is Isaac and he goes to his apartment. There he finds Isaac dead. Niki realizes that her mirror alter ego is helping her in tough situations. We meet Matt, a cop who can hear what people say before they say it, who gets arrested for a murder because thanks to his gift he knows suspiciously much about it. And Claire continues to hide the truth about her, until her father, the evil man looking for our “heroes”, sees her tape where she shows her abilities.

    Created and produced by Emmy®-nominee Tim Kring (Crossing Jordan and Chicago Hope), Heroes chronicles the story of people who “thought they were like everyone else… until they woke with incredible abilities.” Milo Ventimiglia (Gilmore Girls), Hayden Panettiere (Ice Princess), Adrian Pasdar (Desperate Housewives), Ali Larter (Legally Blonde), Japanese actor Masi Oka (Scrubs) and Indian talent Sendhil Ramamurthy (Grey’s Anatomy) have become household names in the U.S. after the debut of this breakout series.

    A simple premise, compelling characters, incredible special effects and an enthralling story — perfect entertainment TV for those who feel special and, even now, still believe they stand out in a crowd. See if you have what it takes to help save the world! Tune in to Heroes on Wednesday, 31 Januaryat 9 p.m. only on Star World!

  • Apple launches iPhone, Cisco lawsuit

    Apple launches iPhone, Cisco lawsuit

    MUMBAI: A day after Steve Jobs introduced the latest must have gizmo from Apple Inc – the iPhone – computer networking giant Cisco has announced that it has filed a lawsuit in the United States District Court seeking to prevent Apple from infringing upon and deliberately copying and using Cisco’s registered iPhone trademark.

    With its lawsuit, Cisco is seeking injunctive relief to prevent Apple from copying Cisco’s iPhone trademark, informs an official release.
    “Cisco entered into negotiations with Apple in good faith after Apple repeatedly asked permission to use Cisco’s iPhone name,” said Cisco senior vice president and general counsel Mark Chandler. “There is no doubt that Apple’s new phone is very exciting, but they should not be using our trademark without our permission.

    “Today’s iPhone is not tomorrow’s iPhone. The potential for convergence of the home phone, cell phone, work phone and PC is limitless, which is why it is so important for us to protect our brand,” Chandler concluded.

    Cisco obtained the iPhone trademark in 2000 after completing the acquisition of Infogear, which previously owned the mark and sold iPhone products for several years. Infogear’s original filing for the trademark dates to 20 March 1996. Linksys, a division of Cisco, has been shipping a new family of iPhone products since early last year. On 18 December Linksys expanded the iPhone family with additional products.

    Apple fired back a rejoinder Wednesday claiming that several companies besides Cisco were currently using the iPhone brand name.

    “We believe that Cisco’s US trademark is tenuous at best,” Katie Cotton, Apple’s vice president for worldwide communications, has been quoted as saying. “We are the first company to use the iPhone name for a cellphone and we’re confident we will prevail.”

    How this case pans out will be closely watched but one certainty is that intellectual property lawyers will be laughing all the way to the bank as a consequence of this particular tussle.

  • WWIL, Zee News begin trading; price range as per market expectations

    WWIL, Zee News begin trading; price range as per market expectations

    MUMBAI: The debut performance of Wire & Wireless India Ltd (WWIL) and Zee News Ltd (ZNL), Zee Group’s demerged entities, on the boursess was along market expectation lines.

    Though WWIL, the cable distribution company, opened at the BSE much lower at Rs 80, it inched up to touch a high of Rs 139.80 before closing the day at Rs 120.80. Putting their faith on digitalisation, analysts had predicted the scrip to trade in the region of Rs 120-140.

    ZNL, on the other hand, opened higher at Rs 50 even as the market had expected it to be valued at Rs 35. The scrip touched a high of Rs 58.85 before tapering off to a low of Rs 33.65 and closing Wednesday’s trading at Rs 34.40.

    Speaking to a business channel, Zee Group chairman Subhash Chandra said WWIL would touch a revenue of Rs 10 billion in 12 months but the company would still not be profitable as it is in an investment mode. The multi-system operator (MSO) has already seeded 155000 set-top boxes (STBs) in the Cas (conditional access system) areas, enjoying a 50 per cent market share.

    ZNL should end the current fiscal with a revenue of Rs 1.8-2 billion and the target in five years is to have a turnover of around Rs 10 billion, Chandra said. The company is planning to launch a Marathi news channel this month.

    Meanwhile, another media and entertainment company listed on the bourses today. Shree Ashtavinayak Cine Vision closed at a premium of Rs 228, or 42 per cent higher from its IPO price.

  • Cinemax sets IPO price band at Rs 135-155

    Cinemax sets IPO price band at Rs 135-155

    MUMBAI: Cinemax India Ltd, which runs a chain of exhibition theatres, has set a price band of Rs 135 to Rs 155 for its forthcoming 8.9 million-share initial public offer (IPO).

    The issue, which constitutes 31.86 per cent of the fully diluted share capital of the company, will enable Cinemax to raise Rs 1.38 billion at the top end of its price band.
    “We will be using the IPO proceeds to widen our presence from 33 screens in 10 properties to 141 screens at 42 locations by FY09. We will have a pan India presence, though our focus will be in strengthening our position in the northern and western regions of the country. We currently have a presence in Maharashtra,” Cinemax chairman Rasesh Kanakia said at a press conference.

    The company owns 8 of its properties while two are leased. “This is a major differentiator from the other theatre operators. But moving forward we would look at the rental model to ramp up the numbers. Our locations are at high catchment areas in affluent and middle class neighbourhoods,” he said. Inox is the other theatre exhibitor which has a predominantly ownership model.

    Cinemax plans to set up a eight-screen multiplex in Chandigarh and have seven gaming zones at its new locations. The company earns 76 per cent of its revenues from ticket sales and five per cent from advertisements, Kanakia said, adding that the company enjoyed leadership position in Mumbai with a 33 per cent market share.

    For the first half of the current fiscal, Cinemax posted a revenue of Rs 347.32 million and a net profit of Rs 21.39 million. In the previous year, it reported a turnover of Rs 438.6 million while its net profit stood at Rs 75.05 million. The company had 2.73 million patrons in the first half of this fiscal as against 3.67 million in FY06.

    Pyramid Saimira Theatre Ltd, which is also into the cinema exhibition business, recently raised Rs 844.4 million through an IPO and ended trading at the BSE on Wednesday at Rs 189.95.

  • SC reserves order in Sea vs Star case

    SC reserves order in Sea vs Star case

    NEW DELHI: The Supreme Court today completed hearing arguments from both sides, Star TV and Sea TV, a franchise of WWIL, on the question of whether an a broadcaster’s agent could also be an MSO, and reserved its orders.

    The parties concerned have been asked to file written submissions within a week.The case relates to Sea TV, a WWIL franchise MSO based in Agra, which had requested signals from Star.

    However, Star had asked Sea TV to take the signals from one of their agents, Moon TV. It is then that Sea TV had pointed out that Moon TV is actually an MSO in competition with it, and had filed a case in the TDSAT, asking whether a broadcaster’s agent could also be an MSO.

    The TDSAT had earlier last year ruled against Star , who had then filed an appeal with the Supreme Court.

    The court heard the final arguments for two days over lengthy sessions, and reserved its orders.

  • IDBI, Bank of Baroda pick up 20 per cent in B.A.G Infotainment

    IDBI, Bank of Baroda pick up 20 per cent in B.A.G Infotainment

    MUMBAI: The appetite of Indian banks for investing in private FM radio business has begun. IDBI Bank and Bank of Baroda have picked up 10 per cent each in B.A.G Infotainment, the subsidiary company under which B.A.G Films operates its radio business.

    “We have offloaded 20 per cent in our radio company to the two banks for Rs 40 million. We are issuing the shares to them on par value,” B.A.G Films managing director Anuradha Prasad tells Indiantelevision.com.
    B.A.G Infotainment will also be diluting an additional 20 per cent to a foreign private equity investor at a higher valuation. The promoters of B.A.G will keep the remaining 60 per cent with them.

    “We are in advanced negotiations with private equity investors for parting with 20 per cent equity at a higher premium. We hope to finalise the deal soon,” says Prasad.

    The government regulation makes it mandatory for the promoter of private FM radio stations to have at least 51 per cent holding in the company. “We could have diluted a further nine per cent but have decided to keep it with us,” says Prasad.

    B.A.G has earmarked an investment of Rs 480 million for its radio business. The company has already pumped in Rs 140 million including Rs 50 million towards licence fee for the 10 radio stations it plans to operate in.

    The company will kick off its first radio station in March, says Prasad. The stations it has successfully bid for include Patiala, Hissar, Karnal, Simla, Ahmadnagur, Jalgaon, Dhule, Ranchi, Jabalpur and Muzaffarpur.

    “We have already lined up 1000 hours of programming. We have ordered for the equipment and are on track to launch the stations as per schedule,” says B.A.G Infotainment chief operating officer Rajiv Mishra.

  • Endemol buys back Endemol France from Telefónica

    Endemol buys back Endemol France from Telefónica

    MUMBAI: Endemol has announced a deal to buy back Endemol France from parent company Telefónica.

    Endemol has valued the transaction up to 450 million euros. Of this amount 194 million euros will be deferred over a period of four years and will be subject to the performance of Endemol France, linked to the realisation of the business plan 2007- 2010 approved by the Board of Endemol France. The transaction will be financed by bank debt and future cash flow.

    In 2006 Endemol France is expected to realise net turnover of around 175 million euros at a normalised EBITDA margin which is considerably above the average of the Group. Endemol France’s business mix is 10 per cent digital media and 90 per cent non-scripted, led by formats such as Star Academy, Deal or No Deal and Watch Your Step.