ITV

Tag: Business Standard

  • Big FM, India Today deals: Zee Media seeks shareholder nod for loans

    Big FM, India Today deals: Zee Media seeks shareholder nod for loans

    BENGALURU: Zee Media Corporation Limited (ZMCL) has sought public shareholder approval for special resolutions by postal ballot /e-voting process for authorizing the board to borrow moneys in excess of the paid-up share capital and free reserves of the company up to Rs. 3,000 crore.

    The funds will be utilised to acquire by way of subscription, purchase or otherwise the securities of, Today Merchandise Pvt Ltd (TMPL), Today Retail Network Pvt Ltd (TRNPL), Vrushvik Entertainment Pvt Ltd (VEPL) and Azalia Media Services Pvt Ltd (ASMPL), the current and/or future subsidiary(ies) and/or associate(s) of the company, subject to the condition that the aggregate of principal amount of such loan and/or value of such investment and/or principal amount secured by such guarantee/security shall not exceed an amount of Rs. 3,000 crores at any point in time.

    VEPL and ASMPL are the two companies to which Reliance ADA will transfer its radio and television business to. Both – ZMCL and Reliance ADA have the option to acquire the balance 51 stakes in VEPL and ASMPL. Both TRNPL and TMPL are loss making companies of the India Today group’s Living Media India Limited (LMIL) that have been developing infrastructure for TV shopping and eCommerce businesses to compliment its TV shopping business.

    As mentioned earlier, the ZMCL board had earlier approved acquisition of 49 per cent stake in 92.7 BIG FM, the radio broadcasting business of Reliance Broadcast Network Limited (RBNL), part of Anil Ambani-led Reliance ADA group. This will give Zee access to 45 running FM radio channels, apart from 14 other licences. The two Essel group companies – ZMCL and Zee Entertainment Enterprises Limited (ZEEL) were to pick up stakes in Reliance ADA’s FM radio business and two television channels respectively. Business Standard had valued the radio business 49 percent stake transaction at Rs 1,592 crore.

    Earlier, in February this year, the ZMCL board had approved in-principle, acquisition of 80 per cent equity stake by the company in both TMPL and TRNL.

    Among other resolutions, ZMCL has also asked its public investors to vote for resolutions that allow it to borrow money from its promoter entity Arm Infra & Utilities Pvt Ltd to the extent of Rs 500 crore.

    The voting period will commence on and from 23 December 2016 at 9.00 a.m. and end on 21 January 2017 at 5.00 p.m. Shareholders can opt for only one mode of voting i.e. either by postal ballot or e-voting. In case any shareholder casts the vote(s) through both the modes, voting done by e-voting shall prevail and votes cast through postal ballot will be treated as invalid.

  • Big FM, India Today deals: Zee Media seeks shareholder nod for loans

    Big FM, India Today deals: Zee Media seeks shareholder nod for loans

    BENGALURU: Zee Media Corporation Limited (ZMCL) has sought public shareholder approval for special resolutions by postal ballot /e-voting process for authorizing the board to borrow moneys in excess of the paid-up share capital and free reserves of the company up to Rs. 3,000 crore.

    The funds will be utilised to acquire by way of subscription, purchase or otherwise the securities of, Today Merchandise Pvt Ltd (TMPL), Today Retail Network Pvt Ltd (TRNPL), Vrushvik Entertainment Pvt Ltd (VEPL) and Azalia Media Services Pvt Ltd (ASMPL), the current and/or future subsidiary(ies) and/or associate(s) of the company, subject to the condition that the aggregate of principal amount of such loan and/or value of such investment and/or principal amount secured by such guarantee/security shall not exceed an amount of Rs. 3,000 crores at any point in time.

    VEPL and ASMPL are the two companies to which Reliance ADA will transfer its radio and television business to. Both – ZMCL and Reliance ADA have the option to acquire the balance 51 stakes in VEPL and ASMPL. Both TRNPL and TMPL are loss making companies of the India Today group’s Living Media India Limited (LMIL) that have been developing infrastructure for TV shopping and eCommerce businesses to compliment its TV shopping business.

    As mentioned earlier, the ZMCL board had earlier approved acquisition of 49 per cent stake in 92.7 BIG FM, the radio broadcasting business of Reliance Broadcast Network Limited (RBNL), part of Anil Ambani-led Reliance ADA group. This will give Zee access to 45 running FM radio channels, apart from 14 other licences. The two Essel group companies – ZMCL and Zee Entertainment Enterprises Limited (ZEEL) were to pick up stakes in Reliance ADA’s FM radio business and two television channels respectively. Business Standard had valued the radio business 49 percent stake transaction at Rs 1,592 crore.

    Earlier, in February this year, the ZMCL board had approved in-principle, acquisition of 80 per cent equity stake by the company in both TMPL and TRNL.

    Among other resolutions, ZMCL has also asked its public investors to vote for resolutions that allow it to borrow money from its promoter entity Arm Infra & Utilities Pvt Ltd to the extent of Rs 500 crore.

    The voting period will commence on and from 23 December 2016 at 9.00 a.m. and end on 21 January 2017 at 5.00 p.m. Shareholders can opt for only one mode of voting i.e. either by postal ballot or e-voting. In case any shareholder casts the vote(s) through both the modes, voting done by e-voting shall prevail and votes cast through postal ballot will be treated as invalid.

  • Star, Sony or Etc, BCCI will have the last laugh

    Star, Sony or Etc, BCCI will have the last laugh

    MUMBAI: If you have the set-up, we have the story. If you have the money, we have got the ideas. In spite of all IPL bidders prepared to make the highest bid for the media rights, what are the chances that BCCI may favour the ones who have the infrastructure and wherewithal to give the game maximum and utmost exposure and BCCI the best mileage? A level playing field for IPL broadcast rights bidders is suspect.

    The India digital rights and rest of the world rights are for five IPL seasons each, between 2018 and 2022 and the Indian sub-continent television rights being offered are for 10 IPL seasons (2018 – 2027).

    It is being speculated that broadcasters may have the upper hand in the selection of the winner of IPL media rights. The Board of Control for Cricket in India (BCCI) said it has sold 18 tenders for the IPL rights. However, experts speculate that the tendering process may have been tilted in favour of television broadcasters.

    The row is connected to the format in which bids had to be submitted. The original tenders had specified that separate bids would have to be made for the three buckets into which media rights have been divided — India digital rights, television broadcast rights for the Indian subcontinent, and a third one for international media rights.

    In the new bundled versus separate format, if a single bidder were to quote higher than the sum of individual bidders globally, that bidder could walk away with all the rights. This change will significantly benefit Sony Pictures and Star India one of which may pocket all IPL rights. BCCI changed the bidding pattern and dynamics to permit consolidated bids across digital, TV, and international, the Times of India had reported.

    The probable winners hence could be Sony Pictures or Star India. These two broadcasters only seem to be keen for television broadcast rights, the biggest media rights component. This modification could make it uncertain for international or digital rights bidders to compete for those rights. Crucial interest was shown by Amazon, Twitter, and Reliance Jio, and by ESPN and Sky Sports for digital rights and international rights.

    Sources familiar with the tendering process said that BCCI reserved the right to pick either separate bids or consolidated bid. Bidders were earlier asked to give a separate value for each of the three packages. But, later, bidders were allowed to put in a single figure for all three rights, making it difficult for BCCI to compare consolidated bids against bids for individual rights pieces.

    By permitting TV broadcasters to put in one figure for all three packages, it seems to have nullified the international or digital bidders such as GroupM, Amazon, or ESPN, from being able to bid at par with the established TV broadcasters.

    This could also bring down the number of stakeholders BCCI may have to deal with. The new proposed change will also keep out deals between the BCCI and international broadcasters in key territories.

    Sports broadcast giant Star India and its competitor, Sony Pictures Network, seem to be in neck-and-neck race for television broadcast rights. The latter has been arguing with BCCI that its existing contract grants it the first right of refusal. While SPN enjoyed the telecast rights to Twenty-20 tournament since inception in 2008, Star India has been making inroads into IPL system. SPN has grown the property on television with innovations around language feeds, marketing, and monetising the IPL from a distribution and advertising stand-point. The 2016 edition of the IPL reached nearly 350 million TV viewers in India, a significant boost over 2015’s 200 million viewers thanks to the addition of rural households in the reporting of television viewership.

    Vinit Karnik, business head, ESP Properties, had told Business Standard, that, “It is no longer about the bouquet or distribution. The biggest change in the sports broadcast landscape is that the rights will now be awarded on the basis of production and packaging. When there are only two options, the organiser will go for the one that will present the property in the best way possible. Investments in sports production should increase now.”

    ALSO READ-

    Top court throws out BCCI’s review petition on Lodha recommendations

    18 prospective bidders for IPL Media Rights

  • Star, Sony or Etc, BCCI will have the last laugh

    Star, Sony or Etc, BCCI will have the last laugh

    MUMBAI: If you have the set-up, we have the story. If you have the money, we have got the ideas. In spite of all IPL bidders prepared to make the highest bid for the media rights, what are the chances that BCCI may favour the ones who have the infrastructure and wherewithal to give the game maximum and utmost exposure and BCCI the best mileage? A level playing field for IPL broadcast rights bidders is suspect.

    The India digital rights and rest of the world rights are for five IPL seasons each, between 2018 and 2022 and the Indian sub-continent television rights being offered are for 10 IPL seasons (2018 – 2027).

    It is being speculated that broadcasters may have the upper hand in the selection of the winner of IPL media rights. The Board of Control for Cricket in India (BCCI) said it has sold 18 tenders for the IPL rights. However, experts speculate that the tendering process may have been tilted in favour of television broadcasters.

    The row is connected to the format in which bids had to be submitted. The original tenders had specified that separate bids would have to be made for the three buckets into which media rights have been divided — India digital rights, television broadcast rights for the Indian subcontinent, and a third one for international media rights.

    In the new bundled versus separate format, if a single bidder were to quote higher than the sum of individual bidders globally, that bidder could walk away with all the rights. This change will significantly benefit Sony Pictures and Star India one of which may pocket all IPL rights. BCCI changed the bidding pattern and dynamics to permit consolidated bids across digital, TV, and international, the Times of India had reported.

    The probable winners hence could be Sony Pictures or Star India. These two broadcasters only seem to be keen for television broadcast rights, the biggest media rights component. This modification could make it uncertain for international or digital rights bidders to compete for those rights. Crucial interest was shown by Amazon, Twitter, and Reliance Jio, and by ESPN and Sky Sports for digital rights and international rights.

    Sources familiar with the tendering process said that BCCI reserved the right to pick either separate bids or consolidated bid. Bidders were earlier asked to give a separate value for each of the three packages. But, later, bidders were allowed to put in a single figure for all three rights, making it difficult for BCCI to compare consolidated bids against bids for individual rights pieces.

    By permitting TV broadcasters to put in one figure for all three packages, it seems to have nullified the international or digital bidders such as GroupM, Amazon, or ESPN, from being able to bid at par with the established TV broadcasters.

    This could also bring down the number of stakeholders BCCI may have to deal with. The new proposed change will also keep out deals between the BCCI and international broadcasters in key territories.

    Sports broadcast giant Star India and its competitor, Sony Pictures Network, seem to be in neck-and-neck race for television broadcast rights. The latter has been arguing with BCCI that its existing contract grants it the first right of refusal. While SPN enjoyed the telecast rights to Twenty-20 tournament since inception in 2008, Star India has been making inroads into IPL system. SPN has grown the property on television with innovations around language feeds, marketing, and monetising the IPL from a distribution and advertising stand-point. The 2016 edition of the IPL reached nearly 350 million TV viewers in India, a significant boost over 2015’s 200 million viewers thanks to the addition of rural households in the reporting of television viewership.

    Vinit Karnik, business head, ESP Properties, had told Business Standard, that, “It is no longer about the bouquet or distribution. The biggest change in the sports broadcast landscape is that the rights will now be awarded on the basis of production and packaging. When there are only two options, the organiser will go for the one that will present the property in the best way possible. Investments in sports production should increase now.”

    ALSO READ-

    Top court throws out BCCI’s review petition on Lodha recommendations

    18 prospective bidders for IPL Media Rights

  • Amul plans to expand in the US

    Amul plans to expand in the US

    MUMBAI: Amul, the world leader in producing milk products, is all set to expand its presence in North America.

     

    The brand which represents the Gujarat Co-operative Milk Marketing Federation (GCMMF) will be launching variants of dairy products – yogurt, lassi and curd – in the US and Canada.

    As reported in Business Standard, the brand will be eyeing the European countries as well. GCMMF will start manufacturing ghee (clarified butter) and paneer (cottage cheese) at a plant in New Jersey from February this year. It has entered into an agreement with a local manufacturing plant which is owned by a non-resident Indian.

     

    GCMMF which exports around Rs 100 crore worth of dairy products every year to the US, West Asia and Europe may also opt to buy directly from local dairy farmers. The report in the financial paper also says that Amul will be selling its products in markets with significant Indian population such as New Jersey, New York and Boston.

  • CNBC-TV18 elevates Sidharth Zarabi to national news editor

    CNBC-TV18 elevates Sidharth Zarabi to national news editor

    MUMBAI: CNBC-TV18, India’s No.1 business channel, has announced a strengthening of its editorial leadership team with a new role being assigned to senior editor Sidharth Zarabi as National News Editor. In this new capacity, Zarabi’s mandate will be to drive reporting teams nationally apart from leading special news programming initiatives on the channel. Zarabi earlier was the Economic Policy Editor and the Delhi bureau chief for CNBC-TV18.

    Speaking on this development, Anil Uniyal, CEO, CNBC-TV18 & CNBC Awaaz, said “Sidharth has played a critical role in CNBC-TV18’s leadership so far and going forward his expertise will be invaluable in terms of how CNBC-TV18 contributes as well as benefits from our integrated business newsroom”

    Commenting on this, Shereen Bhan, Managing Editor, CNBC-TV18 said “Siddharth is a versatile and prolific journalist with over 16 years of experience. He has brought energy and dynamism to the news room. In his new role as National News Editor, he will work closely with me to drive CNBC-TV18’s team of reporters. He will also front special news based shows for the channel
    Speaking on his elevation, Sidharth Zarabi added “It’s been a momentous journey so far and my experience with CNBC-TV18 has been intense and enriching over the years. I hope to bring it to bear as we thrust ahead and further strengthen its leadership”

    Zarabi has over 15 years of experience and prior to joining the group in 2008, he has had stints with the Business Standard and The Indian Express.

  • Digitisation to fuel revenue growth models: Manish Tewari

    Digitisation to fuel revenue growth models: Manish Tewari

    NEW DELHI: Information and Broadcasting Minister Manish Tewari has said that the ongoing digitisation process would help in building transparency in the system and enable the growth of revenue models in the broadcasting industry.

    The process would also help broadcasters in identifying a balanced growth model through the increased share from the subscription revenues.

    Delivering the key note address at the Seema Nazareth Award function for excellence in print media here today, the Minister said there was urgent need for key stakeholders within the media to introspect in view of the trends that had emerged as a result of corrosive discourse on one side and responsible discourse on the other.

    Referring to the challenges that had emerged because of the growth of social media, Tewari said these tools had created an unprecedented potential to connect with target audience for the dissemination of news and information.

    The impact of this medium was so profound that it had also integrated with the print media in the dissemination mechanism. The changing paradigm in the media landscape had resulted in creating opportunities for the journalistic fraternity.

    Tewari said the institution of the Seema Nazareth Award had provided an ideal platform to encourage and inspire young journalists in the print media. He conferred the Award on Sushmi Dey and two Special Mentions on Shelly Walia and Debolina Sengupta. The Seema Nazareth Award has been instituted by Business Standard.

  • Salil Kulkarni joins Zoom as regional head, West Zone, sales

    Salil Kulkarni joins Zoom as regional head, West Zone, sales

    MUMBAI: Salil Kulkarni has been roped in as the regional head, West Zone, sales by Zoom Entertainment Network.

    Kulkarni will look after all revenue aspects for the region including FCT and special projects for the Bollywood entertainment channel. He will report into Zoom VP-sales Hersh Bhandari.

    “I am delighted to be part of the Zoom family. The channel epitomises Bollywood in its truest sense and it will be a pleasure to be part of the success story of Zoom,” Kulkarni said.

    Prior to Zoom, he was with Sri Adhikari Brothers‘ music channel Masti, handling sales for Mumbai, Pune and Ahmedabad regions. He has also worked on the group‘s Hindi regional channels – Dabangg and Dhamaal.

    Earlier, he has worked with Business Standard, Business World and NDTV Media.

  • UTVi in content tie up with Business Standard

    UTVi in content tie up with Business Standard

    MUMBAI: UTVi, the soon to be launched English business news channel, has announced a content tie-up with financial daily Business Standard.

    Aimed at augmenting the news content supply, UTVi will air BS Wire, BS Alerts and BS Breaking News along with the business bytes throughout the day, based on the merit of the news.

    The strategic alliance will help UTVi to keep its audiences updated with the latest developments on the business news front, with inputs from Business Standard bureaus. 

    Business Standard editor TN Ninan says, “We are happy to partner with UTVi in this venture. This alliance gives us an excellent opportunity to combine the quality content of a business newspaper with the immediacy of television news.” 

    UTVi will get into the Business Standard news room to showcase senior journalists and subject experts. The views of these journalists and experts will be captured on air through programs such as a stock market preview in the morning, an edit page review or overview, and news items like “Tomorrow’s Headlines Tonight”.

    The business channel can also showcase Business Standard’s research information. Business Standard in turn will publish extracts of interviews and stories telecast on UTVi , as well as occasionally print the highlights of big shows and interviews shown on the channel. 

    UTVi editor-in-chief Govindraj Ethiraj says, “We see considerable synergy and learning for us.” 

    UTVi already has a strategic content tie-up with Disney-ABC International Television (Asia Pacific), the international TV distribution arm of The Walt Disney Company, for ABC News programming and services.