ITV

Category: News Broadcasting

  • UTV plans to own 49% in UTVi holding firm

    UTV plans to own 49% in UTVi holding firm

    MUMBAI: UTV Software Communications, an integrated media company owned 59.9 per cent by The Walt Disney Company, plans to buy a 49 per cent stake in a special purpose vehicle, which would own UTVi, the business news channel owned and founded by Ronnie Screwvala and his affiliates.

    The decision follows the amendments to the foreign direct investment (FDI) guidelines in February 2009 on calculation of direct and indirect foreign shareholding in Indian companies. The changed guidelines consider investment by a company registered in India in a subsidiary as domestic shareholding as long as the company is majority owned by Indian shareholders.

    Screwvala and his affiliates will own the balance 51 per cent in the Indian Special Purpose Vehicle Company as the resident Indian and founder promoter of the business news channel.

    The board of UTV Software has taken an in principle decision to invest up to 49 per cent in the special purpose vehicle, the company said in a notice to the Bombay Stock Exchange. It will immediately get an independent valuation done of UTVi and have it submitted to the board within four weeks.

    Screwvala had earlier told Indiantelevision.com that UTV Software would acquire a 20 per cent stake in UTVi for $10 million. “The business news channel will get funding from UTV Software Communications and the promoter group,” Screwvala had said.

    However, it could not be confirmed if UTVi had gone ahead with the transaction. The new FDI guidelines would allow The Walt Disney to own up to a maximum of 26 per cent in UTVi in addition to a 49 per cent stake in the special purpose vehicle.

  • NDTV plans to launch MetroNation Chennai in April

    NDTV plans to launch MetroNation Chennai in April

    NEW DELHI: NDTV is readying for the launch of MetroNation Chennai in April while cutting costs in MetroNation Delhi to keep losses in check amid an economic downturn.

    Jennifer Arul is the managing editor of the channel. “We have already hired about 100 people and will be launching MetroNation Chennai in April,” says NDTV MetroNation CEO Rajiv Lulla.

    As reported first in Indiantelevision.com, NDTV will launch the Chennai city-centric channel through a joint venture company with the Hindu Group where it will hold 51 per cent stake.

    So what led to the delay when the channel was supposed to launch last year? “There were licence issues and it took us time arranging for everything,” says Lulla.

    Meanwhile, NDTV has scaled down the operations of MetroNation Delhi by axing jobs and reducing fresh programming on the city-specific channel for Delhi and the National Capital Region (NCR). The channel has converted its mobile studio, ‘The Metronation Bus,’ into a mobile election studio to be used by the two sister news channels, NDTV 24X7 and NDTV India.

    “MetroNation is a resilient and nimble channel. We are cutting costs and will hire people when the time is right,” says Lulla.

  • Times Global Broadcasting plans to raise $50 mn via stake sale

    Times Global Broadcasting plans to raise $50 mn via stake sale

    MUMBAI: Times Global Broadcasting Corporation Ltd, which is readying to launch business news channel ET Now, is on the hunt for an investor to raise close to $50 million (Rs 2.5 billion).

    The company is looking at a dilution of 25-26 per cent equity and has mandated UBS Securities India to help in this pursuit, sources say. When TGBCL launched the English general news channel, it had roped in Reuters as a strategic partner with a 26 per cent holding.

    The valuation at around $200 million (Rs 10 billin) seems to be steep at a time when the market cap of media companies has contracted in the wake of a global financial turmoil.

    When contacted, both Times Global Broadcasting CEO Chintamani Rao and UBS Securities declined to comment.

    TGBCL has suffered a net loss of Rs 720 million on a revenue of Rs 643.2 million for FY’08, according to a presentation made to potential investors. The estimated loss for FY’09 is Rs 1.15 billion on a turnover of Rs 931.2 million.

    The company recently signed an agreement with Reuters to source financial and business content for ET Now. Last year, Reuters divested its 26 per cent stake in Times Global Broadcasting.

  • Zee News Ltd to invest Rs 600 mn in Telugu and UP news channels

    Zee News Ltd to invest Rs 600 mn in Telugu and UP news channels

    MUMBAI: Zee News Ltd. (ZNL) is investing Rs 600 million in its two regional news channels which are slated for launch this month, a senior executive said.

    Telugu news channel Zee 24 Ghantalu will require a capex of Rs 220 million and an operating expense of Rs 180 million for one year. The news channel for Uttar Pradesh will have an investment need of Rs 200 million towards capex and operating cost for a year.

    “We are looking at launching these two channels between 20 March and 31 March. They will take up the positioning of being serious news channels. These markets have a high consumption of hard news,” said the executive.

    The Telugu news market is flooded with 12 channels while Sahara is the only player which runs a dedicated news channel for Uttar Pradesh.

    ZNL had earlier announced it had suffered a loss of Rs 9.26 million for the yet-to-be launched Zee 24 Ghantalu during the third-quarter of the current fiscal.

  • Fitch downgrades TV18

    Fitch downgrades TV18

    MUMBAI: Credit ratings agency Fitch has downgraded TV18, raising concerns over the company’s financial profile over the nine-month period of the current fiscal and deployment of large cash balances to support subsidiaries and group companies.

    TV18’s operating loss in FY’09 on a consolidated basis has been primarily due to the significant launch expenses and development costs of Web 18, and to some extent due to expenses related to its print media businesses including one time charges.

    Also disturbing is the pressure on profitability on TV18’s core news operations business due to a significant slowdown in the renewal of advertising contracts.

    “The company has utilised a substantial portion of its liquid balances (around Rs 6.76 billion as of FY’08 and Rs 2.6 billion as of 9-month period of FY’09) in investments in group companies, primarily in Infomedia18 and direct investments into other group companies,” Fitch said.

    Fitch has downgraded the rating to ‘BBB’ from ‘A.’ It has also lowered its rating outlook to negative from stable.

    Fitch ratings on the following instruments
    Rs 1.25 billion long-term loan – Downgraded to BBB (from A)
    Rs 670.1 million term-loan – Downgraded to BBB (from A)

    Rs 850 million fund-based working capital limits – Downgraded to BBB/F2 (from A/F1)

    Rs 70 million non fund-based working capital limits – Downgraded to F2 (from F1)

    Rs 250 million commercial paper/short-term debt programme – Downgraded to F2 (from F1)

    TV18 has raised fresh debt to meet the increased requirement of working capital and support its investments. “Net debt levels increased substantially to Rs 6.6 billion at the 9-month period of FY’09 compared to negative net debt levels at FY’08,” Fitch said.

    On the positive note, however, is the possible gain of advertising revenues from the upcoming elections and the budget coverage after the new government is formed.

    “TV18 has also been actively undertaking cost cutting measures across its businesses, which along with the one-time nature of some of Web18’s losses due to initial launch expenses and charging off development costs, could help stem operating losses. In addition, TV18 has put on hold its earlier investment/expansion plans into new businesses such as print media, which could reduce the extent of negative free cash flows to be funded through FY’10,” Fitch said.

    “Realisation of benefits from the company’s ongoing operational initiatives, coupled with a revival in advertising revenues materially benefiting credit metrics could lead to the outlook being revised back to stable, as could material reductions in net debt levels through equity infusions and/or monetisation of equity stakes in subsidiaries/group companies,” the ratings agency added.

  • Ashu Dutt moves to ET Now

    Ashu Dutt moves to ET Now

    MUMBAI: ET Now has poached Ashu Dutt from CNBC TV18, appointing him as chief consulting editor, financial markets.

    Dutt will be spearheading markets coverage between 8-10.30 am. Starting 9 March, ET Now will launch at 8 am a show titled Place your Bets with Ashu Dutt. It will have all the strategies, market news and tips you need for a profitable start to the trading day.

    ET Now senior editor financial markets Andy Mukherjee said, “We are delighted to have Dutt join us. He brings with him tremendous experience, credibility and in-depth knowledge of financial and commodity markets.”

    One of the pioneers of Indian financial television, Dutt has been an anchor, editor and financial-markets consultant over the past two decades. He has anchored shows such as Classroom, Markets Midday and Mid-Cap Radar for CNBC TV18, along with its flagship show, Bazaar Morning Call.

    Recently, ET Now appointed Manisha Gupta as commodities and currencies editor.

    “We are certain that Dutt and Gupta will take ET Now’s coverage of markets to a new high, unparalleled in Indian business television,” added Mukherjee.

  • UTVi, Dell to celebrate Indian spirit of entrepreneurship

    UTVi, Dell to celebrate Indian spirit of entrepreneurship

    MUMBAI: UTVi, the English business news channel, and technology brand Dell have joined hands to commemorate the “Indian spirit of entrepreneurship.”

    Titled “Take Your Own Path”, the alliance will urge business owners to share their story to success.

    UTVi, which started the initiative, said that it is directed towards the entrepreneurial owners of India’s small and medium businesses (SMBs) and future leaders from various business schools across the country.

    UTV News Ltd CEO Shantonu Aditya said, “With this powerful partnership, we look forward to bringing out many stories of inspiration, belief and business acumen that hold the key to India’s entrepreneurial tomorrow”

    The alliance is powered by Young Indians (Yi), a part of the Confederation of Indian Industry (CII). They will be facilitating UTVi and Dell India to create a platform to engage young Indians and help them shape the Indian entrepreneurial future.

    “India has a terrific entrepreneurial spirit– the successful big and small Indian entrepreneurs have made India the success it is. After our ‘Take Your Own Path’ campaign, we are seeking out more Indian entrepreneurial heroes with the Dell Small Business Excellence Awards. Dell and UTV – both first generation start-ups – have a special affinity for entrepreneurs, and we are delighted that UTVi has joined us in this search for excellence in small and medium businesses across India”, said Dell India GM – SMB Ravi Bharadwaj.

    The initiative will be held in three phases. Phase one will comprise a joint initiative between Dell India and UTVi as a special 6-part series. The episodes will showcase the stories of individuals who have made it to the top.

    Phase two will communicate with the entrepreneurial community at large to participate in the Dell Small Business Excellence Awards and share their own entrepreneurial journeys, business stories and innovative uses of technology with UTVi Business News. The top ten finalists from the entries will be featured as a part of special series on UTVi. The national winner will receive $25,000 from Dell technology and services, a best-practice sharing session with Michael Dell and Dell experts and an opportunity to be a part of the UTVi series on air.

    These winners will also get the chance to compete for the global award worth $50,000 in Dell solutions. Yi will be supporting this communication by its contribution to the evaluation process.

    Phase three will run parallel with phase two; UTVi and Dell will launch a nationwide business plan competition across Mumbai, Pune, Ahmedabad, Delhi, Lucknow, Bangalore, Chennai, Hyderabad and Kolkata. Budding entrepreneurs and post graduates can present their ideas and business plans to a joint jury in each city. The evaluation of ideas and process formulation will be done jointly by Dell India, UTVi Business News and CII Yi.

    Added UTVi COO Sumit Gupta, “With a three stage campaign flow and a multi media engagement, we approach segments like young students and budding entrepreneurs across industry verticals. We hope to involve these inspiring individuals with the channel and to set the stage for many more stories to follow.”

  • ET Now ready with clearances, to launch in June quarter

    ET Now ready with clearances, to launch in June quarter

    MUMBAI: Times Global Broadcasting has received clearances from the government for its English business news channel and will be launching ET Now in the quarter ended June, says chief executive officer Chintamani Rao.

    ET Now, which will be competing with CNBC TV18, NDTV Profit and UTVi, is also looking at a content tie up. “We are working on the partnership and the announcement will be made soon,” Rao adds.

    The channel will have a staff strength of around 300-400 people and will also leverage the resources of The Economic Times newspaper.

    On weekends, the channel will bank upon more of features. “Weekend news on a business channel is a lot more features,,” Rao says, while refusing to divulge the channel’s content strategy.

    ET Now’s logo was unveiled by Prime Minister Manmohan Singh recently at the Economic Times awards in Mumbai.

  • CNN inks global sponsorship deal with Suzlon Energy

    MUMBAI: Suzlon Energy, wind turbine manufacturer and the world‘s fifth largest turbine supplier, is now the global/ world-wide sponsor for the news broadcaster CNN International‘s capsule on environment preservation, Eco Solutions.


    Having experienced merit and synergies after sponsoring Eco Solutions for over a year on CNN International, Suzlon has expanded its sponsorship to include CNN domestic network in the US and has entered into a long-term commitment that is effective till 2011. The sponsorship encompasses Eco Solutions‘ weekly on-air segments and vignettes across CNN International‘s global network, reaching around 249 million households and hotel rooms in over 200 countries and territories worldwide and 97 million households through CNN‘s domestic network in the US. The deal also covers presence at CNN‘s interactive platform on the website, cnn.com/ecosolutions.


    Eco Solutions is a weekly snapshot dedicated to finding solutions to preserve the planet‘s natural resources for the future generations.


    CNN International VP, news ad sales Asia Pacific William Hsu says, “With Suzlon extending and expanding this multi-platform sponsorship, we keenly look forward to our continual delivery of powerful advertising campaigns with an initiative that is reflective of CNN‘s commitment towards reporting on the environment, the problems it faces, and the use of technology in addressing these problems in a way that is practical as well as sustainable.”


    Eco-Solutions is a CNN initiative that focuses on innovators and their breakthroughs that benefit the environment, thereby having long-term effects. The content features stories from different parts of the world and looks at opportunities from the environment as well as practical solutions to problems.

  • CNN-IBN to telecast ‘Punjab’s Forgotten Women’ on weekend

    CNN-IBN to telecast ‘Punjab’s Forgotten Women’ on weekend

    NEW DELHI: CNN-IBN is set to telecast a special woman-centric show during the weekend that will discuss the plight of women in Punjab. Titled Punjab‘s Forgotten Women, the show will feature the lives of Punjab‘s women who exisit under religious rituals and social obligations dictated by family, clan and caste.

    Says IBN18 Network editor-in-chief Rajdeep Sardesai, “Through this initiative, we aim to create awareness about the problems faced by these women and hope to bring about a change in their lives.”

    The 30 minute show uncovers the unseen side of the misery suffered by women in Punjab. The show will meet widows suffering with HIV/Aids with an aim to find out the problems that such women face after the death of the only earning member of the family.