Category: News Broadcasting

  • Encryption of DD signals: government sets up expert panel

    Encryption of DD signals: government sets up expert panel

    MUMBAI: The information & broadcasting ministry has constituted a joint group of experts to identify the technical parameters and propose a course of action for suitably regulating the sports broadcasting signals.

    The terms of reference of the joint group of experts are:

    (i) Encryption of DD signal being transmitted to regional/local Kendras for transmission terrestrially.

    (ii) Issues relating to free to air DTH of Prasar Bharati; and

    (iii) Any other technical matter related to regulating sports broadcasting signals.

    The 12-member joint group of experts will be headed by All India Radio director general Brijeshwar Singh. Other Members are: Digvijay Singh and H Rajshekaran representing Nimbus, ESPN Software India managing director RC Venkateish, Essel Group vice-chairman Jawahar Goel on behalf of Zee Sports, BCCI vice president Lalit Modi, Punjab Cricket Association president IS Bindra, Becil CMD KRP Verma, AIR chief engineer AS Guin, Doordarshan chief engineer LV Sharma and DD Sports chief engineer ES Issac.

    Rajat Bhargava, ADG (F&A) in AIR will be member-convener of the Group. The group shall submit its report within one month from the date of its constitution on the issues mentioned in the terms of reference.

    The cabinet had last week approved the promulgation of an Ordinance on the issue of mandatory sharing of broadcasting rights of sporting events of national importance with Prasar Bharati and directed the I&B ministry to constitute a joint group of experts to identify the technical parameters and propose a course of action for suitably regulating the sports broadcasting signals.

  • CNBC Universe gears up for Budget 2007

    CNBC Universe gears up for Budget 2007

    MUMBAI: CNBC Universe gears up for the Budget with a line of special programming on the theme ‘OPPORTUNITY ECONOMY?’ But the emphasis is clearly on wooing the youth and family as the network ties up with Star Plus and MTV for its budget specific programming.

    CNBC Awaaz ties up with Star Plus for Saas Bahu aur Budget where different stars from various soap families on Star Plus will join the anchors for an in-studio analysis of how the budget will affect each member of this fictional family. This show has been packaged as a dialogue between the various members of the families from popular tele-serials and tax experts.CNBC Awaaz and its editorial team will moderate this program

    CNBC-TV18 and MTV tie up to bring Budget Fundas which will be telecast on both channels. The series is supposed to connect the youth with the Union Budget.

    CNBC Awaaz budget coverage includes Aapke Sheher Main which will travel to five key cities across India taking stock of what investors expect. The Budget Express is a nationwide initiative tracking 32 cities. Both CNBC-TV18 and CNBC Awaaz will telecast the live uninterrupted coverage of the FM’s Budget Speech followed by a half hour interview with the FM.

    The programming on CNBC-TV18 will also have short segments and vignettes such as Tax Minute, CEO Bites, If I were FM…?, Budget Factoids and What the World Thinks.

    The theme of “Opportunity Economy?” will extend throughout the CNBC Universe including its web properties.

  • Global Broadcast doubles on debut

    MUMBAI: Global Broadcast News, owners and operators of English news channel CNN-IBN and Hindi news channel IBN-7, opened big and closed even bigger – at more than double its issue price of Rs 250.

    The scrip opened on the Bombay Stock Exchange today at Rs 417.10, touched an intraday high of Rs 524, and closed at Rs 510.10 with over 13 million shares changing hands.

    On the National Stock Exchange the share closed at Rs 505.90, with volumes of over 18 million shares, after opening at Rs 425.

    GBN entered the capital market with an initial public offering (IPO) of equity shares aggregating upto Rs 1.05 billion. The issue was oversubscribed 48.74 times.

    GBN is part of the Television 18 Group, which owns and operates leading business channel CNBC TV18 as well as consumer business CNBC Awaaz.

    The company proposes to utilise the net proceeds of the IPO issue to finance acquisition of land, meet construction cost and repayment of loans.

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

  • Studio 18 gears up for first Bollywood release

    Studio 18 gears up for first Bollywood release

    MUMBAI: TV18 group’s film division, Studio 18, is gearing up to make its first foray into Bollywood. It will be releasing Ritesh Sidhwani and Farhan Akhtar’s romantic comedy Honeymoon Travels Private Limited on 23 February The movie directed by Reema Kagti is will be released worldwide with 50 prints.

    In the pipeline are six other releases namely Raaj Kumar Santoshi’s Halla Bol starring Ajay Devgan and Vidya Balan and Kya Love Story Hain from VR Entertainment starring Tusshar Kapoor and Ayesha Takia.

    Studio 18 was set up last year by Raghav Bahl, along with Sandeep Bhargava, the former head of Sahara Motion Pictures. Since then it has roped in the likes of Ashoka Holla, Tanuj Garg and Gayatri Batra.

    Talking about the appointments Bhargava says, “The three have had experience in releasing some of the biggest money-spinners overseas including experience in syndication, festivals, new market development and exploitation of emerging media.”

    The international division, with offices in the US and UK, will market and distribute in-house productions and external acquisitions in foreign markets.

    Adds Holla, “The focus will also be on broadening the appetite of the overseas audience by being first-movers in presenting an alternate menu to them. This division of Studio 18 intends to assemble a diverse slate – that is mainstream Bollywood features of viable sizes, genres and set-ups and exploit them through a bouquet of available rights to the maximum.”

  • Jeff Zucker elevated to NBC Universal president, CEO

    Jeff Zucker elevated to NBC Universal president, CEO

    MUMBAI: US media conglomerate NBC Universal has announced that Jeff Zucker is its president and CEO.

    He succeedes Bob Wright, who has served in this role for 21 years..

    NBC Universal’s parent firm General Electric Company Chairman and CEO Jeffrey R. Immelt says, ” Jeff will succeed one of the true giants in media — Bob Wright — to whom we owe a tremendous debt of gratitude for helping to build this great media company. By any measure, Bob is one of the most successful media executives ever.

    “He transformed NBC from a broadcast network into a diversified global media company. He was always able to see what was coming next, whether it was cable, satellite, Hispanic broadcasting or digital media. Bob’s strategic vision and execution kept NBC growing.”

    Zucker, 41, is a 21-year veteran of NBC Universal. As president and CEO, he will have responsibility for the strategic direction and operations of all NBC Universal properties. Zucker is one of the industry’s most experienced executives and has spent much of his career working in NBC’s news, sports, and entertainment divisions. As CEO of the NBC Universal Television Group since 2005, Zucker has overseen the company’s television programming and distribution operations, which account for two-thirds of the company’s overall profits.

    Immelt adds, “Jeff Zucker is a terrific talent and the right person to guide NBC Universal on the next stage of its growth. His 20-plus years with NBC give him deep knowledge of the company’s strategy, people and culture. In the past few years, Jeff has shown that he is an energetic, focused leader who can rise to a challenge. His creative experience, expertise in news and broadcasting and intense passion for the business were immensely appealing to the Board and to me during this succession process.

    In addition to serving as a vice chairman of GE, Wright will assist with the leadership transition at NBCU.

    Zucker said, “Bob has been a terrific mentor to me throughout my career, and I am honored to be his successor and fortunate to assume responsibility of a company that is so well positioned for future growth. I’ve spent my entire career at NBC and had the privilege to work with the best in the business every day. I look forward to continuing to work with this talented management team as we take NBC Universal to the next level.”

  • Annual Academy Awards will be aired live on STAR MOVIES on february 26th at 6:30 a.m. with a repeat at 8:30 p.m.

    MUMBAI: It’s that time of the year again! It is the biggest celebrity event in showbiz … the most important night of the year for the Hollywood stars … the most awaited event of the year that is attended by the movers and shakers of the entertainment industry worldwide – The OSCARS! It’s time to roll out the red carpet and be awed by all the glitz and glamour, once again. And as always they are LIVE and EXCLUSIVE on Star Movies! Hollywood’s biggest event of the year, The 79th ANNUAL ACADEMY AWARDS will be aired LIVE on STAR MOVIES on February 26th at 6:30 a.m. with a prime time repeat on the same day at 8. 30 p.m., giving viewers in India a chance to watch the event, along with millions of viewers, worldwide!

    The event kicks off with a Star Movies Special Event ‘LIVE From The Red Carpet’ offering a first glimpse at what the stars are wearing as they arrive in their limousines and parade down the red carpet. Look for celebrity interviews, fashion statements by Hollywood’s glam brigade dressed to the nines in designer creations and jewelry! Then it’s off to the famed Los Angeles Kodak Theatre for the main event. This year’s host is comedienne-turned-US talk show host Ellen DeGeneres, voted one of the funniest people in America by Entertainment Weekly, and she’ll be joined by Hollywood’s finest presenters on this night to be remembered!

    Star Movies has been broadcasting the Oscars since 1999. This year Hollywood’s most important and glamorous awards will again have a big parade of movie stars and other Hollywood types gracing the red carpet in front of Hollywood’s Kodak Theater, dressed to the nines in designer duds and jewelry.

    Having bagged the rights for telecasting The Oscars until 2010, Star Movies has once again lived up to its promise of giving its viewers a wholesome Hollywood experience over and above the freshest and the best of the movies that they bring to the viewers. Star Movies has also been showcasing the ‘Oscar Fever’ to set the mood for its viewers, wherein some of the popular Oscar winning and nominated movies of the recent past have been aired.

     

    So prepare yourself for the BIGGEST and the most popular night LIVE and exclusive on Star Movies, on Monday, February 26th 2006 at 6.30 a.m. (red carpet followed by LIVE presentation) and repeat at primetime 8.30 pm. Root for your favorite nominees and get to know who will receive the highest honor in filmmaking this year!

    Come Home to Hollywood. Come Home to Star Movies.

    About Star

    STAR is a leading media and entertainment company in Asia. STAR broadcasts over 50 television services in nine languages to more than 300 million viewers across 53 Asian countries. STAR channels cover all genres including general entertainment (Star Plus, Xing Kong, Star Chinese Channel, Star One, Star Utsav, Star World, Vijay, Phoenix Chinese), sports (ESPN, Star Sports), movies (Star Chinese Movies, Star Gold, Star Movies), music (Channel [V]), and news and current affairs (Star News, Star Ananda, Phoenix InfoNews Channel). STAR controls over 20,000 hours of Indian and Chinese programming and also owns the world’s largest contemporary Chinese film library, with more than 600 titles, featuring superstars including Jackie Chan, Chow Yun Fat and Bruce Lee. In partnership with leading companies in Asia, STAR businesses extend to filmed entertainment, television production, cable systems, direct-to-home services, terrestrial TV broadcasting, wireless and digital services. STAR is a wholly owned subsidiary of News Corporation. www.startv.com

    For further information please contact:
    In Mumbai:
    Zeenat Khan Shiraz Bhavnani / Aditi Chada
    Asst. Vice President – Publicity Vaishnavi Corporate Communications
    Star India Pvt. Ltd. Tel: 91-22-5656 8787
    Tel No. 91-22-56305555 Fax: 91-22-5656 8788
    Email:sbhavnani@vccpl.com / achada@vccpl.com

     

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    Some nominations for the 79th Annual Academy Awards

    Best motion picture of the year
    ” Babel
    ” The Departed
    ” Letters From Iwo Jima
    ” Little Miss Sunshine
    ” The Queen

    Achievement in directing
    ” Babel
    ” The Departed
    ” Letters From Iwo Jima
    ” The Queen
    ” United 93

    Performance by an actor in a leading role
    ” Leonardo Dicaprio – Blood Diamond
    ” Ryan Gosling – Half Nelson
    ” Peter O’Toole – Venus
    ” Will Smith – The Pursuit Of Happyness
    ” Forest Whitaker – The Last King Of Scotland

    Performance by an actor in a supporting role
    ” Alan Arkin – Little Miss Sunshine
    ” Jackie Earle Haley – Little Children
    ” Djimon Hounsou – Blood Diamond
    ” Eddie Murphy – Dreamgirls
    ” Mark Wahlberg – The Departed

    Performance by an actress in a leading role
    ” Penélope Cruz – Volver
    ” Judi Dench – Notes On A Scandal
    ” Helen Mirren – The Queen
    ” Meryl Streep – The Devil Wears Prada
    ” Kate Winslet – Little Children

    Performance by an actress in a supporting role
    ” Adriana Barraza – Babel
    ” Cate Blanchett – Notes On A Scandal
    ” Abigail Breslin – Little Miss Sunshine
    ” Jennifer Hudson – Dreamgirls
    ” Rinko Kikuchi – Babel

    Best animated feature film of the year
    ” Cars
    ” Happy Feet
    ” Monster House

    Achievement in art direction
    ” Dreamgirls
    ” The Good Shepherd
    ” Pan’s Labyrinth
    ” Pirates Of The Caribbean: Dead Man’s Chest
    ” The Prestige

    Achievement in cinematography
    ” The Black Dahlia
    ” Children Of Men
    ” The Illusionist
    ” Pan’s Labyrinth
    ” The Prestige

    Achievement in costume design
    ” Curse Of The Golden Flower
    ” The Devil Wears Prada
    ” Dreamgirls
    ” Marie Antoinette
    ” The Queen

    Best documentary feature
    ” Deliver Us From Evil
    ” An Inconvenient Truth
    ” Iraq In Fragments
    ” Jesus Camp
    ” My Country, My Country

    Best documentary short subject
    ” The Blood Of Yingzhou District
    ” Recycled Life
    ” Rehearsing A Dream
    ” Two Hands

    Achievement in film editing
    ” Babel
    ” Blood Diamond
    ” Children Of Men
    ” The Departed
    ” United 93

    Best foreign language film of the year
    ” After The Wedding
    ” Days Of Glory (Indig?nes)
    ” The Lives Of Others
    ” Pan’s Labyrinth
    ” Water

  • Lakshmi Narasimhan joins TV18; to head new venture

    Lakshmi Narasimhan joins TV18; to head new venture

    MUMBAI: Lakshmi Narasimhan, who recently resigned as national director for GroupM’s Central Trading Group (CTG), which is the centralized buying unit of all the agencies of GroupM, is joining Raghav Bahl’s TV18 as head of a new business venture.

    Narasimhan, who is still serving out his notice at GroupM, takes up his new assignment as of 1 March and will be reporting to TV-18 Media CEO Sai Kumar.

    No details were available about the nature of the new venture.

  • Manmohan Singh CNN IBN’s ‘Man of the Year’

    Manmohan Singh CNN IBN’s ‘Man of the Year’

    NEW DELHI: The word was out early last morning in huge ads splashed in newspapers that Dr Manmohan Singh, the Indian premier had won the Indian Man of the Year in the “Politics” category, but later in the evening in a high-tech massive awards ceremony, he was declared the overall winner of the CNN-IBN Indian Man of the Year 2007.

    The organisers had thought he would perhaps finally be able to make it, but he could not. The award was received on his behalf by Dr Sanjay Baru, his media in-charge. But soon after, Singh was shown receiving his award at his residence in a special TV coverage. The gala event saw some of the top men and women from business, media and political fields attend the first ever CNN-IBN Indian Man of the Year awards.

    With the biggest ever business takeover of Corus Steel by the Tata group, Ratan Tata expectedly won the award in the business category. He too could not attend and the prize and citation were received by his representative.

    Laxmi Narayan Mittal had also been in the running in the business section, but had to make way to Tata. However, his stature and achievement was rewarded by a Jury Award. But perhaps the best surprise was in the sports category, with Jeev Milkha Singh winning the sports award, with a proud father, Flying Sikh, Milkha Singh applauding. Sania Mirza failed the rigorous tests and processes involved, though Amar Singh, sitting in the audience would have none other than her as his choice.

    “Jeev’s mother and I never wanted him to be a sportsperson, because when we were in sports there was no money in it. We wanted him to become a doctor or engineer, but he went ahead and became a golfer. Now that he has done so, he must win every award in the sport,” Milkha Singh said.

    There were two other delightful decisions. Rajkumar Hirani, director of “Lagey Raho Munnabhai” and the right to information missionary Arvind Kejriwal won the awards in the entertainment and social work categories.

    Hirani said he was overwhelmed by the audience reaction to the film. “I was scared when we did the film. It is truly gratifying that a concept like Gandhism has found a meaning in the context of the 21st century India,” Hirani said.

    Introducing the awards, CNN-IBN chief editor Rajdeep Sardesai said that the idea was first floated by one of his senior colleagues but “My first reaction was – Oh, another award.” He said that most Indian awards were confusing: who chose them, on what criteria, what was the credibility?

    “We decided that if we have to go for an awards ceremony, we needed to have that credibility. That is why some of India’s top people were selected as jury, headed by eminent jurist Soli J Sorabjee.” Strict criteria were fixed and nominations received from across the country. These were scrutinised and the jury spent days going through the process.

    “We wanted the Indian’s to vote as a whole and hence the SMS votes were also invited,” However, Sardesai said that “We knew SMS votes can be fixed, so there was a modicum of doubt about that.” Still, he said, some factors were considered from there.

    Finally, the awardees were decided and he along with the jury were satisfied with the choice as credible and acceptable.

    The jury comprised of Sorabjee, senior police officer and social worker Kiran Bedi, former billiards champion Geet Sethi, industrialist Deepak Parekh and Infosys boss Nandan Nilekani.

    Interestingly, before the announcement of prize for each category, members of the audience were asked their choice. In one such response, railways minister Laloo Prasad drew laughter when he refused to comment. “Yeh judicial mamla hain, to jury nay jo kaha hum usko mantey hain (This is a judicial matter, and I stand by the verdict of the jury).

    Sadesai had spoken of the new, vibrant India, the cynosure of world business, and it was thus in the fitness of things that Pepsi CEO Indra Nooyi bagged the jury’s verdict in the NRI category.

    The audience was regaled when Sorabjee said that deciding on awards was fraught with danger, of losing old friends, but in a more serious note, added that 100 top Indians had been initially short-listed and the most important deciding factor in the final verdict was, did the person concerned do India proud in his or her area of activity and put India on the global map?

    Somenath Chatterjee, Speaker, Lok Sabha brought the ceremony late at night by a long and arduous speech.

     
        

  • What Women Want

    It’s a socio political statement that became a mass movement. Today countries across the world celebrate it. It is ironic that what started out as a protest movement to discuss the terrible working conditions and low wages for women in a textile factory in New York City has been reduced to a jamboree of commercial messages that media indulges in every year.

    So we at Indiantelevision.com, decided to step out of the circle and ask a few women in power across the board what they thought about Women’s Day and whether at the end of all the lip service paid to them and their talent, corporates were actually sensitive to their needs. A range of answers, most of them positive of course, lead us to believe that corporates are indeed sensitive to their women employees. But it is also a sign of times that most women we spoke to take pride in the fact that they have made it to the top not because of organizational support, but despite it.

     

    It’s a large talent pool out there waiting to be explored and exploited. Is it time media organizations take heed. Perhaps it is.

    Here is a look at what some power women had to say –

    Vyas Gianetti creative chairwoman and chief creative officer, Preeti Vyas Gianetti says: “The business scenario in India still works within man made structures. It is a highly competitive field and women are proving to be an important human resource. Studies indicate that women are much better at handling relationships; they are better team workers and team builders, more inclusive and surprisingly – bigger risk takers. Women are also more defiant in defeat, that is, they have an attitude that screams ‘I’ll show you… I’ll do this better next time’.”

    So are corporates recognizing this trend?

    “I would say that there is an increased appreciation of women’s talents in the corporate sphere today than ever before. But we have to admit that it is a slow process. Some corporates are agnostic to the change; some others are taking their time but are making the effort. I know that the HR policies and therefore thewomen leaders in a corporate like ICICI get a huge boost but the media is catching up too.

    “I also think that corporates would be ignoring the innate leadership capacity of a woman at their own peril. Greater acceptance needs to come in and in fact will.

    “Also the glass ceiling affect is an internal proposition and most women have already broken through it. The need to restructure corporate policies will occur but once again, these are not compromises that a corporate is making. They are merely augmenting a process that will benefit their talent at work.

    “That said, any such support by a corporate cannot be forced. That kind of culture must evolve and will evolve over a period.”

     

     

    Madison Media Group CEO Punitha Arumugam takes a clear position about why women should not ask for concessions or privileges from their organizations. “Is media woman friendly? But why should they be. I think corporates judge you by your capability and not what priorities you may or may not have. As for the whole myth of a glass ceiling, I think women broke that a long time ago. My whole point is, ‘why should corporates be held responsible for the personal choices we make.’ So sure, women might want to prioritize their family but then they will also have to fend for a back up or support system. To make an organisation responsible for it is unfair. And making work an excuse for neglecting a family or not having a family is not right either.”

    Nick VP & GM Nina Elavia Jaipuria who has experience in advertising, FMCG and media believes that there is no real gender bias or preference within the media industry, both genders are given an equal opportunity to deliver. As far as balancing work with family, it works in the same manner for males as well. 

    Jaipuria adds, “Its more about the intent, you have to prioritise. If you want it to happen, you have to make it happen. And as for juggling work and home, multi-tasking is what women do best, its comes naturally.”

     

    CNBC TV 18 anchor Shereen Bhan is a recognizable face in the field of business television. She tell us why corporates may have to look at some of their talent and provide support to them if they intend to retain them. She says, “I think with media the problem that we essentially would talk about is time. Fortunately in media we also have a ‘flexi time’. We do not keep predictable time but that also means that if we are not talking a 9 to 5 job, we are also not talking about being at work 24/7.

    “I think what corporates need to address is the question of a support system for all its employees and not based on gender alone. Should we have special privileges? Increasingly corporates do step in and look at a particular talent and see if it’s worth their while to accept certain demands. This is not a case of bias, but then you also have to prove your merit before you get special privileges.

    “Also, I think, the reason why one might notice fewer women at the top is simply because women do opt out themselves and this might have nothing to do with the organisation. You can’t be everything to everybody. So yes, in the case of some women, the glass ceiling is purely internal.”

    Times Now anchor Mini Menon gives a thumbs up to most organizations she has worked with as well. “I think when you work with professional corporate organizations you do not have to worry about gender concerns. I have worked as a reporter across organizations like BiTV, Star, CNBC and now Times Now and they have all been equally sensitive. So whether you are talking security during reportage, late nights or even living conditions while on report assignments, the news organisation has been most supportive.

    “While I was at CNBC and closer to my delivery date I was given the choice to work fewer hours or even now at Times Now I am given complete freedom. But apart from the sensitivity issue, I think most women also understand that if an organization goes that extra mile for you, you have to be equally responsible at work.”

    Red FM RJ Malishka, who has just completed a marathon shopping session gearing up for the morning Women’s Day special, huffs and pants through the conversation when she says, “Radio is at a nascent stage and although it is male dominated, being fewer in number is an advantage. Yes, there are pre set ideas and lines are drawn clearly between men and women junta at work, Red still tends to be more supportive of us women.”

    Does she ever wonder what it would be like to do the balancing act between being a mother and a cool RJ all at the same time? “You have a field like advertising and you know you will be working crazy hours there. My sister has to work crazy schedules and I always tell her to quit because really, it’s bad for the ovaries. That said, I can almost imagine a day when I will wheel in a pram into the radio on air studio and say ‘Be quiet, mama needs to go on air for the next 30 minutes’.” Cool mom, indeed.

    ShowM’s Ravina Raj Kohli says that she has never faced any such discrimination during her ongoing career in media. “It becomes a problem when you think of it as a problem,” she asserts. 

    TV 18 web property IndiWo editor Swapna Chidambaram says, “I believe that the media is one sphere that allows you to choose the hours you want to work. It gives you the freedom to be a free lancer if you should so choose.”

    “Earlier, women picked 9 to 5 jobs and were satisfied. Today they venture out, look at a vast variety of disciplines and choose to work in a competitive arena. Today you have more female photographers choosing what was once a male domain. The talent pool has increased and this is certain to contribute to even more women leaders.

    “A more important issue that I would place stress on is that women should take an equal onus to perform. In media women can prove themselves based on talent and dedication and rise based on merit alone. So today, we need to establish ourselves as expert writers, photographers or whatever our chosen domain is and NOT on account of being a “woman” in a man’s world or anything.”

    UTV broadcast COO Zarina Mehta explains that because the media industry is still new, 7-8 years old, it is largely dominated by women. “I believe everyone is given an equal chance and that just goes to show what women can do. Maybe, in other industries like banking and engineering there still exists a bias. 

    “I don’t believe in Women’s Day!” staunchly declares Mehta.

    Strong words we admit. But is it such a rosy picture after all? The predominantly female team at Indiantelevision.com thinks that’s just one more facet to a woman at work. It ain’t all good, but there’s no point complaining. As for the organizations, amidst all the celebrations and cake cutting, it would be a great time to sit back and reflect on what can be done to give women power the impetus it clearly needs.

    On that note, Happy Women’s Day!

  • Broadcast Initiatives fixes IPO price band at Rs 100-120, issue opens on 9 February

    Broadcast Initiatives fixes IPO price band at Rs 100-120, issue opens on 9 February

    MUMBAI: Broadcast Initiatives Limited, which holds Hindi news and views channel Janmat, has set the price band of its initial public offering (IPO) between Rs 100 and Rs 120 per share. to raise funds in the range of Rs 855 to Rs 1,026 million for expansion.

    The company will be raising Rs 1.02 billion at the top end of the price band. The proceeds of the issue will be used for the purchase of land and construction of studio, purchase of production, post production and broadcasting equipments and prepayment of loans.

    The issue will open on 9 February and close on 14 February. The company is offering 8.55 million equity shares of Rs 10 each which includes employee reservation of 1,00,000 equity shares at a premium.

    The net issue to the public will constitute 44.27 per cent of the fully diluted post issue paid-up capital of the Company. The promoters will continue to own 55.73 per cent of the equity shares on a fully diluted basis.

    Allianz Securities Ltd. is the book running lead manager (BRLM). Allianz Securities Limited, Enam Securities Private Limited and Almondz Capital Markets Private Limited are the syndicate members to the issue. The shares are proposed to be listed on BSE and the NSE.

    Janmat was commercially launched on 30 April 2006. A wholly owned subsidiary of Broadcast Initiatives Ltd., Sri Adhikari Brothers Media Limited (SABML) is in the process of launching a Marathi language channel, Mi Marathi. SABML has entered into an exclusive ad sales representation agreement with NDTV Media Limited for the sale of airtime on Mi Marathi channel.