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  • Bloomberg TV India Autocar India Awards 2013-14

    Bloomberg TV India Autocar India Awards 2013-14

    MUMBAI: Bloomberg TV India, the nation’s premier English business news channel and Autocar India the most definitive magazine of the auto industry will present the Bloomberg TV India Autocar India Awards 2013-14. The awards will be presented at a glittering function, in the august presence of an elite list of personalities from the corporate world who will come together, to salute achievers from the automotive sector.

    Ms. Amrit Rai, Business Head – Bloomberg TV India speaking about the Awards said, “The Bloomberg TV India Autocar India Awards have become the benchmark of performance for the industry and with each passing year the bar has been raised by the players. We expect the 2013 – 14 Awards to be a keenly fought battle across all categories and wish all nominees the very best.”

    Mr. Hormazd Sorabjee, Editor – Autocar India magazine, speaking about the Awards said, “These awards have unmatched credibility thanks to an exhaustive evaluation process and a jury that is the best in the business. Consumers can rely on these awards to make an informed car buying decision.”

    The Bloomberg TV India Autocar India Awards 2013-14 will be given across 20 categories to the best and the most deserving contributors to the auto industry. The categories are ~ Car of the Year ; Bike of the Year ; Viewer’s Choice Car of the Year ; Viewer’s Choice Bike of the Year ; Best Design and Styling ; Best Variant of the Year ; Manufacturer of the Year ; Car Dealer of the Year; Technology and Innovation award ; Best Driver’s Car ; Best Value for Money ; Performance Car of the Year ; Saloon Car of the Year ; Compact Luxury Car of the Year ; SUV of the Year ; Premium SUV of the Year ; MPV of the year ; Engine of the Year ; Premium Bike of the Year ; Import Bike of the Year.

    The jury panel comprising of experts like Hormazd Sorabjee (Editor – Autocar India); Renuka Kirpalani (Editor – Autocar show); Shapur Kotwal (Deputy Editor – Autocar India & Editor – What Car? India); Narain Karthikeyan (India’s first Formula 1 Driver); Kartikeya Singhee (Consultant Editor – Autocar Show); Manvendra Singh (India’s leading Automotive Historian & Restorer); Rishad Cooper (Two Wheeler Editor – Autocar India); C S Santosh (Motocross Rider).The entire methodology and process is validated by knowledge partners KPMG.

    The Bloomberg TV India Autocar India Awards 2013-14, to be held on December 20th at the Seaside Lawns of The Taj Lands End in Mumbai, is presented by Reliance General Insurance and powered by Mobil 1.

  • Essel plans to raise $500 mn to fund growth of its companies: Bloomberg

    NEW DELHI: Media baron Subhash Chandra’s Essel Group is understood to be seeking to raise as much as $500 million to fund expansion and pay debt at some of its companies.

    The group may use the funds for DTH service provider Dish TV India Ltd, multi-system operator (MSO) Siti Cable Network Ltd. and schools operator Zee Learn Ltd, according to sources quoted by Bloomberg.

    Essel joins Indian media companies including Network 18 Group and Living Media India Pvt. in seeking capital. It is understood that Essel has approached private equity firms for this purpose.

    Dish TV, India’s biggest provider of DTH services, and Siti Cable are expanding as the nation makes digital television services mandatory. Advertisement and subscription revenue is forecast by G2Mi Research to increase 87 per cent by 2015.

    “There is a heightened interest among investors in two media segments, broadcaster and cable companies, owing to a structural change that’s anticipated in the country through digitization,” Vivekanand Subbaraman, an analyst at MF Global Sify Securities India in Mumbai, told Bloomberg.

    Essel is not in “active dialogue” with buyout firms, said Himanshu Mody, group head for finance and strategy, in an interview to Bloomberg. “We from time to time keep raising expansion capital for various entities within the group.”

    According to the report, the money raised will not be used for Zee Entertainment Enterprises Ltd., Essel’s largest publicly traded unit. With a market capitalisation of 164.3 billion rupees ($3 billion), Zee Entertainment had 3.3 billion rupees in cash at the end of March, data compiled by Bloomberg showed.

    Apart from its television business, Essel manages firms that build roads, runs a newspaper and makes packaging for toothpaste and food companies.

    Dish TV had total debt of 12.1 billion rupees as of March 31 and Siti Cable, which sells cable services to about 10 million households in India, had 3.5 billion rupees of debt at the time, data compiled by Bloomberg show.

    Siti Cable plans to raise Rs 3.2 billion selling warrants convertible into equity to its owners including Essel.

  • Charlie Sheen invests in an OTT company

    Charlie Sheen invests in an OTT company

    MUMBAI: The Digital Development Group (DIDG) (DigiDev), a Hollywood-based Over the Top (OTT) TV, technology, content acquisition and distribution company, has announced that actor Charlie Sheen has invested in the company.

    The funds will be used to help the company expand its original programming and other content. This comes on the heels of Sheen‘s recent deal with DigiDev for the development and creation of the Charlie Sheen Cyber TV channel.

    DigiDev president Joe Q. Bretz said, “Charlie understands the power of this new TV technology and his fertile mind has already begun to shape his upcoming channel. Old fans and new fans will see the uncensored Charlie Sheen take on the role of the ‘outspoken‘ spokesperson for the new generation.”

    “Internet television is on fire with Bloomberg reporting that Netflix tops cable networks with 4-billion viewing hours in the past three months, and Mediapost.com forecasting that OTT (Internet TV) will hit $20 billion by 2015, which explains why in addition to Netflix, Google, and Apple, others are charging into this arena. DigiDev will continue to create new, cutting-edge programming, while increasing its channel count with an eclectic mix of compelling programming,” Bretz added.

    Sheen said, “Joe and his crew have built an amazing machine and I‘m looking forward to the launch of my channel. My investment in DigiDev is a vote of confidence, confidence in Joe and confidence in the industry”.

  • Bloomberg integrates Twitter feeds with terminals

    Bloomberg integrates Twitter feeds with terminals

    MUMBAI: Financial information platform Bloomberg has integrated real-time Twitter feeds directly into the investment workflows of market professionals.

    Bloomberg Professional service subscribers can now monitor and analyze real-time Twitter updates issued by corporations, executives, government officials, economists, commentators, media outlets and other voices that can influence the financial markets.

    By incorporating live Twitter feeds directly into its financial information platform, Bloomberg integrates social media content with users‘ existing investment workflow so market participants avoid the disruption caused by monitoring separate systems for different types of market-moving information.

    The announcement follows this week‘s decision by the U.S. Securities and Exchange Commission to allow companies to use social media for corporate disclosures.

    “When important news is shared on Twitter, traders and investors need to be able to access it, and validate its importance in order to incorporate that information into their decision making process,” said Bloomberg Professional service head of sales and product development Jean-Paul Zammitt.

    “Bloomberg‘s platform now provides this ability, along with the high-quality news, data and analytics our users need and have come to expect from us.”

    Bloomberg classifies tweets by company, asset class, person and topic, making it easy for institutional investors, traders, corporate executives and government agencies to track updates related to a specific industry or market, their portfolio holdings or an online personality.

    In addition to searching and tracking relevant financial tweets, users can also create alerts to monitor for unusual bursts of social media chatter about a company.

    The Bloomberg Professional service now funnels information from social media channels, corporate announcements, feeds from more than 1,000 news organizations, including Bloomberg News, and content from more than 90,000 websites to help investors make better informed decisions.

    Using this new functionality, subscribers can now create Twitter filters and alerts, monitor what companies are trending, or set alerts for increased levels of social media activity at TWTR<GO> on the Bloomberg Professional service.

  • ‘The news terminal biz is dominated by global players and we got a good price for NewsWire18’ : Network18 head of investments Sarbvir Singh

    ‘The news terminal biz is dominated by global players and we got a good price for NewsWire18’ : Network18 head of investments Sarbvir Singh

    Founder-promoter Raghav Bahl has started shaving Network18 Group‘s non-core businesses to stay focussed on the company‘s core strengths of television, digital assets and e-commerce.

     

    As part of the haircut, Bahl has found a buyer for NewsWire18, the home-grown real-time financial news and information provider, which competes in India with global giants like Bloomberg and Reuters.

     

    Private equity firm Samara Capital is buying Network18’s 77.50 per cent stake in NewsWire18 for Rs 900 million and has drawn up plans to expand the company‘s business, including an ambitious plan to spread out to other countries.

     

    For Network18, it is a profitable monetisation of its stake in the company it helped grow and stabilise since 2006. NewsWire made an operational profit of Rs 70 million on revenue of Rs 445 million for the fiscal ended 31 March 2012.

     

    Network18 has so far raised Rs 2 billion from stake sales in non-core businesses this year and expects to raise another Rs 3 billion over the next 12 months.

     

    It is also in discussions with new as well as existing investors (SAIF Partners and GS Shopping) to invest in its teleshopping and e-commerce arm HomeShop18 as it needs capital to grow. It intends to continue to hold a sizeable
    stake in HomeShop18, though not a controlling one.

     

    The other companies which Network18 will ultimately exit are travel portal yatra.com and Infomedia’s printing business.

     

    In an interview with Indiantelevision.com‘s Sibabrata Das, Network18 head of investments Sarbvir Singh talks about the Group‘s focus on profitability, cautious approach towards big-budgeted television channel launches, and strong digital and e-commerce assets.

     

    Excerpts:

    Q. Why is Network18 exiting from NewsWiire18 when it had turned into an operating profitable company?
    The news terminal business is dominated by global players (like Reuters and Bloomberg) and doesn’t fit into our scheme of things. We are getting a good price (Rs 900 million) for selling our stake (77.5 per cent) in NewsWire18.

     

    Q. Why didn’t the deal with Reuters consummate? Was it because it made sense for Reuters to have Network18 as an equity partner so that NewsWire18 would continue to benefit from the television news channels of the Group?
    I can’t comment on who the other interested parties were, but that (total exit) wasn’t an issue at all. We obviously sold to private equity firm Samara Capital because we got the best deal from them.

     

    Q. Wasn’t there a synergistic value as Network18 Group holds interests in television news channels?
    The news terminal business does not fall into our core focus areas; it also does not fit into our core business strength. It is a standalone business by itself and requires specific focus.

     

    We have decided to get out of our non core businesses. Our focus will be on three core areas: television, digital and e-commerce.

     

    Network18 is no longer the same company as it was in 2007. Our television business has grown exponentially, be it in the areas of news or entertainment. We have strong web properties and our e-commerce play is large.

     

    Q. Does this mean that the Group will launch more television channels through TV18?
    We may launch smaller channels, but there is no rush as such. We have too much on our plate. In addition to the existing channels, we have made a big acquisition (Rs 21 billion for acquiring assets of ETV Network) and will have to integrate operations.

     

    ‘Our focus will be on three core areas: TV, digital and e-commerce. Network18 is no longer the same company as it was in 2007. Our TV has grown exponentially. We have strong web properties and our e-commerce play is large‘
     

    Q. Is there a plan to revive the launch of a Hindi movie channel?
    We are not sure whether we would need a Hindi movie channel at this stage. The Hindi general entertainment channels have become like movie channels on weekends.

     

    Our focus will be on profitability and getting the distribution equation right. Distribution is a very important part of the evolution process and we have to set it right. We are unlikely to do big channel launches at this stage.

     

    Q. Sources say there is plan to launch a Gujarati business news channel along the lines of CNBC TV18. How far has this progressed?
    In media companies a lot takes shape at the planning stage. Everybody looks at opportunities. But as I said earlier, we are in no tearing hurry to do anything.

     

    Q. What are the other non-core businesses that Network18 is looking to sell?
    We are looking at getting about Rs 5 billion from our asset sales. We have already done Rs 2 billion this year and expect to generate another Rs 3 billion over the next 12 months.

     

    Q. Network18 has sold partial stake in bookmyshow.com. Will it exit from this as well?
    We will hold on to our remaining stake in bookmyshow.com and build that business. We want to be in digital commerce. We see ourselves as being one of the largest players in e-commerce through our presence in online and television through HomeShop18.

     

    Q. Which means the stake in HomeShop18 will be retained?
    We are looking at a similar model like bookmyshow.com. We may not remain as a shareholder with controlling stake but have a sizeable equity in HomeShop18.

    ‘We may launch smaller channels, but there is no rush as such. We are not sure whether we would need a Hindi movie channel at this stage. We have too much on our plate. Our focus will be on profitability and getting the distribution equation right‘
     

    Q. Isn’t there a plan to raise $50 million as pre-IPO funding for HomeShop18?
    We are looking at an external investor as the teleshopping and e-commerce firm needs capital to grow. We are in discussion with existing (SAIF Partners and GS Shopping) and new investors as well. There are many who come and talk to us. In the long term, we may look at raising capital through an initial public offering (IPO).

     

    Q. But isn’t the mandate given to an investment bank to scout for an investor in HomeShop18?
    I can’t comment on that.

     

    Q. Will Network18 exit from yatra.com before or after the IPO?
    We have expressed our intent to offload stake from yatra.com. But it is difficult to say whether it will be a pre-IPO exit or after it. We will see how it goes and what is the market situation then.

     

    Q. How many asset sales are we looking at for getting to the target of Rs 3 billion in the next one year?
    There will be a couple of companies which will fetch us Rs 400-500 million from each transaction. And then there is yatra.com.

     

    Q. Will Infomedia’s printing business form a part of this?
    Yes, it is on the block. But it won’t be a major part of this.

     

    Q. What about your sports marketing company Sport18?
    We are not bidding aggressively for the rights. We have certain rights (Professional Golf Tour of India, India Cyclothon, Hyderabad 10K and the Chandigarh Marathon) and this fits into our TV news business.

  • Triton creates Bloomberg UTV’s new ad campaign

    MUMBAI: Triton Communications has created a new brand campaign for Bloomberg UTV. The new campaign lays stress on Bloomberg being the original source of news and information and that its competitors in India report what it delivers.

    According to the company, with the business objective to launch the channel as an organic extension of Bloomberg, the world‘s largest financial news network, the communication objective was to establish Bloomberg UTV India as distinctly different from competitive alternatives.

    The agency felt that the communication challenge was to differentiate the brand in the Indian context and consistent with the global Bloomberg image and identity. It was further compounded by the brand‘s need to broad base itself.

    Triton Communications CEO and national creative director Renton D‘Sousa, “Research reveals that the viewer is interested in how the channel is fundamentally different rather than the run of the mill differentiators claimed by the genre. Whilst all business channels subscribe to the Bloomberg terminal for information, to BloombergUTV it is “it‘s raison d‘etre”. Hence ‘The Original Source‘. The positioning arrived enables the creative to substantiate the same with a distinct tone and bring it alive with a unique personality. The functional take away centers around incisive information, useful knowledge and actionable wisdom. The emotional take away is intelligence for the intelligent.

    The brand promise is communicated via the fundamental difference between BloombergUTV and other business channels by stating facts upfront. For starters, “Others report what we deliver”, the company said.

    BloombergUTV president Sriram Kilambi added, “The business news genre is full of the same stuff, which is very stock led, basically buy-sell hold. We at Bloomberg are about the larger picture – infrastructure, macro-economics, judiciary, policy, stocks and real-estate. We are justifiably proud of our news gathering heritage and are indeed the original source for most of the information that you see in your newspapers and your news channels. When Triton made that our positioning statement, we naturally loved it.”

  • Bloomberg invests in customised feed for Australia

    Bloomberg invests in customised feed for Australia

    MUMBAI: With the aim to widen its viewership and offer advertisers more targeted options, Bloomberg Television has announced a major investment in a separate, dedicated feed customised for audiences in Australia. The new offering will be available starting June.

    Bloomberg Television leads the way in Australia as the most widely distributed business news service with more than 2.6 million households. Bloomberg Television is available on the largest pay TV platforms, Austar and Foxtel, as well as Fetch TV, Neighborhood Cable and Transact and TPG.

    “This latest initiative continues Bloomberg‘s commitment of investing in important markets such as Australia. Our Australian feed will help us better serve our growing roster of advertising clients and open up opportunities for customized programming initiatives to build greater affinity with the local audience,” said Bloomberg Television‘s Commercial Director for the Asia-Pacific region Gary Groenheim.

  • Eleven Brandworks ropes in Sampada Chaudhari as COO

    Eleven Brandworks ropes in Sampada Chaudhari as COO

    MUMBAI: Full-service advertising agency Eleven Brandworks has appointed Sampada Chaudhari as its chief operating officer. She will be responsible for running the agency and leading new business initiatives.

    Chaudhari joins Eleven Brandworks’ Mumbai office after a 12-year stint at Lowe Lintas. Her last role as vice president – business development included founding and running the business development and growth practice for the company. She also oversaw a few corporate initiatives, including PR and agency participation in Effectiveness awards.

    Chaudhari began her career with Grey Worldwide (Trikaya Grey then), over 13 years ago as management trainee. She later moved to Lowe Lintas, working in cross functional roles. Over the years, she has worked with several leading brands and companies including Marico, Proctor & Gamble, Johnson & Johnson and Unilever.
     
    With a multi-disciplinary business background, Chaudhari brings with her rich experience across media, account management, planning, knowledge management, brand management and business development.

    Chaudhari says, “Eleven Brandworks has a dynamic, young, and talented team with hunger for growth and great work. It is a refreshing opportunity for me to nurture, build and grow Eleven Brandworks.”

    Eleven Brandworks director Puneet Kapoor adds, “We see Sampada playing a pivotal role with our current set of clients, apart from leading the new business initiative.”

    Eleven Brandworks is based out of Mumbai and Gurgaon and handles clients such as Bloomberg UTV, Archies, Hallmark, Brand Capital, Homex and Imagine TV.

  • Andrew Morse joins Bloomberg as head of US Television

    Andrew Morse joins Bloomberg as head of US Television

    MUMBAI: Andrew Morse, executive producer of innovation and integration for ABC News Digital, has been named head of Bloomberg Television in the US.

    Morse will oversee editorial, programming, operations and development in the US for Bloomberg Television, the global 24- hour business news channel that reaches over 270 million homes worldwide.

    In addition, he will work across Bloomberg’s print, radio, mobile and digital media properties to further the company’s strategy of delivering news, business intelligence, market information and critical data to the world’s most influential business news consumers across a variety of real- time platforms. Morse will report to Andy Lack.

    Bloomberg Media Group CEO Andy Lack said, “Andrew brings experience not only as an award-winning broadcast journalist, but in understanding the needs of today’s media organisations to deliver creative content to consumers across multiple platforms. As a producer, he’s created exciting, smart television for a global audience, making him an ideal fit as Bloomberg continues to build a world-class multimedia organization.

    ” Most recently, Morse led ABC News’ coverage on the ground for the earthquake, tsunami and nuclear crisis in Japan and the Egyptian Revolution in 2011, as well as the earthquake in Haiti in 2010.

    Morse also oversaw ABC News’ digital portfolio, including ABCNews.com, ABC News Now, the network’s 24-hour broadband channel, and its emerging platforms such as the iPad and iPhone applications.

    Prior to joining the ABC News digital team, Morse served as executive producer of Good Morning America’s weekend edition and had been senior producer for World News Saturday and Sunday. From 2002-2005 Morse served as ABC News’ Asia Bureau Chief and producer, where he coordinated the network’s coverage of the South Asian Tsunami in 2004 and the Bali terror bombings in 2002.

    From 1998-2001 Morse was an assignment editor and producer in ABC News’ London Bureau. He began his career in ABC News’ Washington Bureau as a production coordinator and was an associate producer for ABC News.com when it launched in 1997, experimenting with digital reporting in its earliest form.

  • Bloomberg opens new office in Mumbai to expand ops in India

    Bloomberg opens new office in Mumbai to expand ops in India

    MUMBAI: Bloomberg has announced opening of its new office in Mumbai. The move has more than tripled the size of its office, which accommodate increased customer support for its customer base in India and an expanded news reporting operation that has doubled the number of its reporters in the last two years, the company said.

    The Bloomberg Professional service, which it claims is used by more than 300,000 of the world’s leading business and financial professionals, is bringing further transparency to India’s growing financial services sector.

    The Bloomberg Professional service provides real-time access to the data, analytics and local and global financial news and market data analysis, as well as portfolio management tools, electronic trading and order management systems.

    “We experienced 18 per cent growth in India last year alone, and we are investing in our India operations to continue this expansion and deliver our trusted financial news, data and analytics to India’s increasingly important financial sector,” said Bloomberg chairman Peter Grauer.