Tag: Aroon Purie

  • TV Today mulls business channel, Bloomberg tie-up

    TV Today mulls business channel, Bloomberg tie-up

    MUMBAI: The Aroon Purie-controlled TV Today Network is exploring starting a business news channel in association with American financial and business news major Bloomberg.

    The tie-up can involve Bloomberg picking up an equity stake in the proposed business channel. Even if an equity deal doesn’t happen, the tie-up would certainly be a licencing and co-branding one on the lines that Time Warner inked with the TV18 group for the English news channel CNN IBN in 2005 as and when it’s concluded.

    When contacted, TV Today declined to comment.

    Unofficially, though, the Delhi-headquartered TV Today attempted to play down the developments, saying such reports were “speculative at the moment.” Insiders, however, insisted work on a business channel has started.

    The network has earmarked between Rs 350 million to Rs 400 million for operating a new business news channel, company sources said.

    The Indian news network is targeting to launch the business channel in the first quarter of 2007, if not earlier. However, the deal is subject to regulatory and government clearances.

    Last year, Bloomberg had applied to India’s Foreign Investment Promotion Board (FIPB) for a proposed television software venture, which will produce and distribute business and financial news television programmes in English to local television channels.

    Bloomberg’s TV channel that was available in India till a couple of months back is off air as it hasn’t yet applied for landing rights, a new rule that’s being pursued by the Indian government to monitor TV channels uplinked from outside India.

    Interestingly, TV Today Network floated a subsidiary company, christened TV Today Network (Business) Ltd, during the last financial year ended 31 March 2006. The development was communicated to capital markets and investment experts some time ago.

    “Consolidated financial results (for FY 2006) include the results of 100 per cent subsidiary TV Today Network (Business) Limited, which was formed during the current year and is yet to commence business. Accordingly, figures of corresponding period/year are not applicable,” the company had said in a statement. The stock market buzz signifies that TV Today is likely to launch the business channel through this subsidiary company.

    In an interview given to Indiantelevision.com in 2004, Purie had expressed the possibility of starting a business news channel.

    Presently, TV Today operates Hindi market leader Aaj Tak, its English sibling Headlines Today, a Hindi version of Headlines Today called Tez and Dilli Aaj Tak. TV Today scrip closed on the Bombay Stock Exchange (BSE) on Wednesday at Rs 76.75 after opening the day at Rs 76.75.

  • Media companies oppose Broadcast Bill 2006

    Media companies oppose Broadcast Bill 2006

    NEW DELHI: It was day of lobbying here as print and electronic media met up with a government official on Thursday to express serious concern over a draft Broadcast Bill 2006, which despite being in formative stages has the potential of being restrictive.

    The underlying theme of a meeting that media company representatives had with I&B secretary SK Arora was that proposed media norms were simply ways to gag the media, even if it’s still to get a Cabinet nod, and had to be opposed.

    More irksome and dangerous, media companies felt, was an attempt by the government to try draft a legislation without consulting the industry, contrary to what had been done with other media norms (especially the PRB Act relating to the print medium), which smacked of total lack of transparency.

    Though Arora did not hand out any assurances at the meting with the media committee of the Confederation of Indian Industry (CII), he did admit that he would try preparing a concept paper based on a draft Cabinet note relating to the Broadcasting Bill 2006 for industry’s feedback.

    The senior government official, who also received a representation from the Indian Broadcasting Foundation separately later in the day, tried his best to allay fears of the media and conveyed that some of the so-called draconian features and restrictions already existed in some form or other in existing pieces of legislation.

    According to some of those who attended the meeting, when confronted with the fact that proposed norms would hamper fair business activities, Arora opined that government’s endeavour was not to be restrictive, but facilitate business and create a level playing field for all.

    Those who attended the meeting included the India Today Group chief Aroon Purie, Business Standard’s CEO and editor T N Ninan, Zee group’s Jawahar Goel, Discovery Network India’s EVP and MD Deepak Shourie, NDTV’s Narayan Rao and Star Group India CEO Peter Mukerjea, The Tribune newspaper editor HK Dua and Reliance-Anil Ambani group’s Tarun Katial.

    That Arora had very little to offer to the media, except carry their feedback to his political masters, was evident when Reliance’s Katial brought up the topic of allowing news and current affairs on private radio FM stations and drew a blank from the government official.

    Though CII is yet to issue an official statement on the meeting, opinion seems to be divided.

    While one media representative termed the meeting “an exercise into futility with lot of work still to be done,” another said that most media companies felt a bit re-assured.

    However, on one issue there was unanimity: the need for electronic and print apex bodies to come together on a common platform to raise voice against restrictive media legislation.

    Increasingly as the government faces flak over the proposed Broadcast Bill, which smacks of restrictions and attempts at media muzzling by introducing a government-controlled regulatory body, industry too is scurrying to get its act together.

    In the middle of June, the I&B ministry had circulated a draft Cabinet note on regulating broadcasting services amongst other ministries for feedback. When leaked in the media, it kicked up a furore.

    Since then, I&B minister Priya Ranjan Dasmunsi has been blowing hot and cold. First he denied existence of the draft. Then he backtracked to say he’d bring in a media-friendly legislation in Parliament to emphasize the very next day that he does not propose any “dilution” or “pollution” in the draft.

    While the government would want to bring the Bill in Parliament in the monsoon session, starting from Monday next, other ministries are yet to send in their feedback that may take up to 15 days for compilation, according to an official of the I&B ministry.