ITV

Tag: DMCL

  • Shareholders to receive 1 DMCL share for 4 ZMCL equity shares

    Shareholders to receive 1 DMCL share for 4 ZMCL equity shares

    BENGALURU: Zee Media Corporation Limited (ZMCL) has informed the bourses that Friday, 6 October 2017 would be the record date for the purpose of determining its shareholders who would be entitled to issuance of equity shares by Diligent Media Corporation Limited (DMCL) in the ratio of 1 (one) equity share of Re. 1 each of DMCL for every 4 (four) equity shares of Re. 1 each of ZMCL held as on the record date.

    Earlier, the Mumbai bench of the National Company Law Tribunal vide an order passed on 8 June 2017, had approved the scheme of arrangement and amalgamation among ZMCL, DMCL, Mediavest India Private Limited (Mediavest), Pri-Media Services Private Limited (Pri-Media) and Maurya TV Private Limited (Maurya) and their respective shareholders and creditors.

    The scheme inter alia provides for demerger of print media undertaking of ZMCL vesting with DMCL with effect from appointed date of 1 April 2017.

    The company says that the communication was being issued for the general guidance of the shareholders of ZMCL, who have been issued Equity Shares by DMCL, for computing the proportionate of cost of acquisition of ZMCL shares to be split between ZMCL and DMCL as per the provisions of the Income Tax Act, 1961.

  • Print business demerger: Zee Media awaits National Company Law Tribunal approval

    MUMBAI: Essel group company Zee Media Corp had got shareholder approval earlier this year to demerge its print media business which includes its newspaper DNA into Diligent Media Corp Ltd (DMCL) and merge two other firms – Mediavest India Pvt Ltd and Pri-Media Services Pvt into – DMCL. The exercise of restructuring would become effective 1 April 2017 and finally see DMCL being listed on the stock exchanges at a later date.

    The company yesterday announced – during the release of its latest Q4 2017 and financial year 2017 financial results – that the demerger is awaiting the go-ahead of the National Company Law Tribunal.

    According to its latest financial results, Zee Media notched up a healthy 27.3 per cent growth in advertising revenues over the previous corresponding year’s quarter to Rs 1403.7 million in the latest quarter and a 13.7 per cent growth in the full fiscal to Rs 4553.8 million. The spike in advertising revenues came despite the slowdown in ad spends, courtesy demonetisation, and can be attributed to the ad spends by political parties in the assembly elections which took place in the period after January 2017.

    Zee Media took a hit of 27.2 per cent on subscription revenues in Q4 to Rs 115.3 million and of 43.8 per cent in the full fiscal to Rs 575.3 million.

    Its total revenue in Q4 2017 grew 17.5 per cent to Rs 1559.6 million, while its FY2017 was dragged down by the lower subscription revenues to show a growth of just 1.3 per cent to Rs 5508.2 million.

    Higher marketing costs of Rs 208.4 million (a growth of 190.7 per cent) to promote and distribute its new channel WION in Q4 2017 saw its expenses rise 31.5 per cent in the quarter. Its full-year expenses however rose only 3.8 per cent to Rs 4819 million as its marketing expenses shaved by 15.1 per cent in FY 2017.

    Its profit after tax for Q4 2017 fell 71.2 per cent Rs 53.6 million while it registered a higher loss of Rs 160.6 million for the full fiscal (Rs 45.4 million in FY2016).

    For further detailed financial analysis, please log in a little later today.

  • ZMCL to demerge print biz into DMCL, list; approves new home shopping channel

    ZMCL to demerge print biz into DMCL, list; approves new home shopping channel

    MUMBAI: The board of directors of ZMCL has inter alia approved a draft of Scheme of Arrangement and Amalgamation for demerger of print media undertaking of the company into Diligent Media Corporation Limited (DMCL), merger of Mediavest India Private Limited and Pri Media Services Private Limited into DMCL and merger of Maurya TV Private Limited with the Company. As a part of the Scheme, the equity shares of DMCL shall be listed on stock exchanges.

    Newspaper Launch: The Network launched the Delhi edition of DNA on 11 October 2016.

    DNA launched with a promise. “We won’t compromise on the quality and integrity of journalism. You won’t find a story where we have sold our soul to make money and sold it to you as news,” wrote the editor-in-chief of the newspaper on the front page of the first issue of the 32-page paper priced at Rs 10. He further promised that the spanking new newspaper will change the rules of the game. DNA’s Delhi debut has, interestingly, took the media fraternity, including top media buyers at advertising agencies, by surprise.

    Delhi is a bigger print media market than Mumbai. Of Rs 5,100 crore invested into advertising in newspapers in Delhi and Mumbai, 60% goes into print brands in the capital. The English print market in Delhi is estimated to be at Rs 1,700 crore.

    Acquisition: Subsequent to September 30, 2016, the company has acquired 49 per cent stake in Today Merchandise Private Limited and Today Retail Network Private Limited and the Board of Directors today approved in-principle launch of a Home Shopping channel by the company.

  • ZMCL to demerge print biz into DMCL, list; approves new home shopping channel

    ZMCL to demerge print biz into DMCL, list; approves new home shopping channel

    MUMBAI: The board of directors of ZMCL has inter alia approved a draft of Scheme of Arrangement and Amalgamation for demerger of print media undertaking of the company into Diligent Media Corporation Limited (DMCL), merger of Mediavest India Private Limited and Pri Media Services Private Limited into DMCL and merger of Maurya TV Private Limited with the Company. As a part of the Scheme, the equity shares of DMCL shall be listed on stock exchanges.

    Newspaper Launch: The Network launched the Delhi edition of DNA on 11 October 2016.

    DNA launched with a promise. “We won’t compromise on the quality and integrity of journalism. You won’t find a story where we have sold our soul to make money and sold it to you as news,” wrote the editor-in-chief of the newspaper on the front page of the first issue of the 32-page paper priced at Rs 10. He further promised that the spanking new newspaper will change the rules of the game. DNA’s Delhi debut has, interestingly, took the media fraternity, including top media buyers at advertising agencies, by surprise.

    Delhi is a bigger print media market than Mumbai. Of Rs 5,100 crore invested into advertising in newspapers in Delhi and Mumbai, 60% goes into print brands in the capital. The English print market in Delhi is estimated to be at Rs 1,700 crore.

    Acquisition: Subsequent to September 30, 2016, the company has acquired 49 per cent stake in Today Merchandise Private Limited and Today Retail Network Private Limited and the Board of Directors today approved in-principle launch of a Home Shopping channel by the company.

  • Bombay HC clears Zeel acquisition of DMCL’s media business undertaking

    Bombay HC clears Zeel acquisition of DMCL’s media business undertaking

    MUMBAI: Finally passing all the hurdles, Subhash Chandra-promoted Zee Entertainment Enterprises Limited (Zeel) announced to the BSE that the company has finally got the Bombay High Court nod for the ‘Scheme of Arrangement between Diligent Media Corporation Limited (DMCL) and the Company and their respective shareholders and creditors, for demerger of Media Business Undertaking (MBU) of DMCL’.

     

    The undertaking comprises media and entertainment business, event management activities, TV channel license and TV reality show formats for game based shows. Through this business, Zeel is planning to give an impetus to its event management capabilities. Planned are events and game shows.

     

    The scheme looks at the demerger of the MBU from DMCL and then vesting it with Zeel. Equity shareholders of DMCL will be given preference shares by Zeel in the ratio of one preference share of Re 1 of Zeel for every four equity shares of Rs 10 each held in DMCL. The company says that 2.23 crore preference shares shall be issued in all.

     

    DMCL was formed in 2005 with a 50:50 JV between Essel Group and Dainik Bhaskar Corp (DB). In 2012, Essel Group bought out DB’s 50 per cent.

     

    The entire DMCL is now under the two arms of Essel – Zee Media with DNA and Zee Entertainment with the MBU.

     

    Zeel was also recently included in the 50-share CNX Nifty index replacing Diageo-controlled United Spirits. The network has been included in the recently launched CNX Media Index on the NSE and carried the maximum weight of 45.45 per cent in the index that comprises 15 media and entertainment stocks.

     

    Reacting to the news, the share price of Zeel rose to 285.25 during trading on 12 September and closed on 283.75

  • Shareholders approve Zeel’s acquisition of DMCL’s media business undertaking

    Shareholders approve Zeel’s acquisition of DMCL’s media business undertaking

    MUMBAI: Another level gets cleared for Zee Entertainment’s (Zeel) proposed acquisition of Diligent Media Corporation’s (DMCL) media business undertaking. The court convened meeting on 4 June, saw majority of both equity and preference shareholders give their nod to the scheme of arrangement.

     

    Now, the approval needs to go through the Bombay High Court and other regulatory authorities such as the central government.

     

    Out of the 745419538 equity shares that were polled, 99.082 per cent were in favour of the decision while 99.437 per cent of the 13195108470 of the preference shares that were polled were in favour. In all, 97365 equity shareholders and 91076 preference shareholders voted in the meeting.

     

    With both giving majority approval, Zeel will look forward for the legal and regulatory approvals to also sail through, thus allowing it to completely own the media business undertaking of DMCL that involves events as well as a non-News channel licence and certain registered intellectual properties for TV formats of gaming-based shows.

     

    DMCL was formed in 2005 with a 50:50 JV between Essel Group and Dainik Bhaskar Corp (DB). In 2012, Essel Group bought out DB’s 50 per cent stake.

  • Zeel seeks shareholder approval to acquire media business of DMCL

    Zeel seeks shareholder approval to acquire media business of DMCL

    MUMBAI: A few months post Zee Media’s amalgamation with Essel Publishers that brought the English newspaper DNA under Zee Media, its sister company Zee Entertainment (ZEEL) has called for a meeting of its shareholders to approve the scheme of arrangement with Diligent Media Corporation’s (DMCL) media business undertaking (MBU).

     

    The notice to shareholders says that the MBU conducts various events on women empowerment, education, automobiles and real estate.  It also consists of a non-news TV channel licence and certain registered intellectual properties for TV formats of various gaming-based shows.

     

    The court convened meeting shall be held on 4 June. The scheme looks at the demerger of the MBU from DMCL and then vesting it with ZEEL. Equity shareholders of DMCL will be given preference shares by ZEEL in the ratio of one preference share of Re 1 of ZEEL for every four equity shares of Rs 10 each held in DMCL. The company says that  2,22,73,886 preference shares shall be issued in all.

     

    Through this business, ZEEL is planning to give an impetus to its event management capabilities. Planned are events and game shows.

     

    The scheme, post approval by shareholders, is subject to the approvals of the central government and the Bombay High Court. All statutory licences, permissions, approvals or consents relating to, vested with and/or held by DMCL will be with ZEEL. All DMCL employees will then be considered as ZEEL employees.

     

    DMCL was formed in 2005 with a 50:50 JV between Essel Group and Dainik Bhaskar Corp (DB). In 2012, Essel Group bought out DB’s 50 per cent stake.

     

    The entire DMCL is now under the two arms of Essel – Zee Media with DNA and Zee Entertainment with the MBU.

  • Essel targets January 2007 launch of digital venture; plans web portal

    Essel targets January 2007 launch of digital venture; plans web portal

    MUMBAI: Subhash Chandra-promoted Essel Group will unveil a set of digital initiatives under the banner of its newly-formed digital arm Digital Media Convergence Ltd (DMCL) by January 2007, including a web portal.

    The plan is to explore new media platforms such as mobile and IPTV and the online space in a full-fledged manner to distribute various formats of digitised content.

    “We will be unveiling our initiatives in three months time. We are going to create various in-house formats and shows. Apart from this, we are speaking to various foreign players as well to acquire internationally acclaimed formats. We are sending a special programming delegation for the upcoming Mipcom session. Though the stress is on delivering fresh content, we are keen on the Zee digital library as well,” says DMCL CEO Abhijeet Saxena.

    DMCL will concentrate on acquiring, digitising and making available content on various delivery platforms. “Apart from our library products, we are keenly looking at providing our services to all the content owners who want to distribute their content in these platforms. The company will also be exploring the interactivity segment to tap the potential this space offers to the maximum,” Saxena adds.

    To enrich its platforms, DMCL will be creating special interest content, apart from making use of the Zee Network library on a selective basis. DMCL has already initiated talks with various Indian as well as international companies to acquire programming formats and various genres of content.

    According to Saxena, the company is thinking beyond mobisodes and other existing mobile value added services (VAS). He says the plan is to launch multiple formats of shows, targeting various segments of the consumer.

    “We have thought about the viability of the services from a consumer point of view and the practicalities of making it a popular medium. Hence, we will offer various price rates depending on the duration and uniqueness of the formats. For example, we are working on multiple formats for movies, not just abridged versions. To market these multiple segments, we have classified the services into premium and mass oriented,” Saxena offers.

    DMCL expects to contribute to the mobile VAS in a significant manner with the initiatives. “The existing mobile VAS market size comes about $500 million and this space is expected to reach $10 billion by 2010. DMCL expects to be a major contributor to the expansion,” says Saxena.

    DMCL has recently roped in Intel and IBM for its back-end technology support. The company has already brought most of the telecom operators on board for the initiative.

  • Essel, Intel partner on digital content

    Essel, Intel partner on digital content

    NEW DELHI: The Subhash Chandra-promoted Essel Group has launched DMCL (Digital Media Convergence Ltd) as a company that will facilitate the availability of digital content in India.

    Infotech major Intel will partner the Essel Group in this digital venture, according to senior Intel company executives at the ongoing FICCI Frames event in Mumbai.

    DMCL, to be headed by Zee Telefilms president Abhijeet Saxena, will concentrate on acquiring, digitising and making available on various platforms a wide variety of content.

    This content could be special interest content sourced from outside India for the Indian audience as well as Indian/Bollywood content for use in India and outside.

    DMCL will also engage in creating special interest /niche content that will be of immense value to select audiences in India.

    Announcing the initiative, Saxena said, “We have always been very conscious of offering the best in entertainment to our consumers. Keeping our sights on the future of entertainment in the digital new media scenario, we will be at the forefront of providing both new and existing content across various consumer gadgets.”

    Dwelling on shaking hands with Intel, he added, “While selecting the technology and partner for implementation, performance and expertise in successful implementation was given prime consideration. As Intel is a domain specialist, we are very happy to collaborate with them for this effort. We are confident that we will have mutually beneficial partnership with Intel for this gigantic strategic initiative.”

    Intel Corp launched its Intel Viiv technology platform for home entertainment devices at the CES show California in January 2006.

    The Intel Viiv technology is designed to make it easier for people to download, view, manage and share digital entertainment on a variety of viewing screens and networked devices such as portable media players, digital TVs and routers.

    The company is working to bring the Intel Viiv platform to India in the near future.

    DMCL and Intel will work towards offering digital content over the Intel Viiv platform in India. DMCL will offer an agnostic platform, by being an aggregator (including doing re-purposing) for other content owners, starting with Zee Telefilms Ltd.’s content.

    Intel will work with other players in the industry to introduce DMCL as an Intel Viiv content service provider in India. This joint industry supporting effort means that the consumers who procure Intel Viiv will get a ready service available on the platform for them to access information, entertainment and other services.

    Essel Group has diverse national and global business interests, encompassing media programming, broadcast and distribution, specialty packaging, entertainment and trading.

  • Zee to rejig; mulls Siti Cable hive-off

    Zee to rejig; mulls Siti Cable hive-off

    NEW DELHI: The Subhash Chandra-promoted Zee Telefilms, which is planning a restructuring of its businesses, is toying hiving off its distribution activities as a separate company.

    On being specifically asked whether Siti Cable, the distribution arm of the company and the country biggest MSO, would be hived off as a separate company, a senior executive of Zee Telefilms admitted, “There is a possibility.”

    However, the executive was quick to point out that such an initiaive would not be done overnight. “We’ll have to take the shareholders’ nod for any such restructuring,” he added.
    Yesterday, Zee Telefilms Ltd informed the Bombay Stock Exchange (BSE) that its board of directors would meet on 29 March 2006 to consider restructuring the company’s businesses.

    Few days back, Zee Telefilms finalised a deal for distribution of some family channels in Afghanistan where the flagship is now available on cable networks. Applications for landing rights in China too were made, but the chances are slim as China has stringent laws for non-Chinese broadcasting companies.

    According to information available with Indiantelevision.com, Zee Telefilms — India’s largest vertically integrated media company with its flagship Zee TV now inching back to the No. 2 position ahead of Sony — is toying a de-merger of its businesses.

    At the moment, all aspects of the broadcast business like content generation, marketing, distribution and syndication are carried out under the Zee Telefilms umbrella with different divisions.

    The DTH business of Subhash Chandra is carried out by another concern, ASC Enterprise, which has a content supply agreement with Zee Telefilms for country’s first private sector DTH service Dish TV.

    And, on Thursday Zee Telefilms announced at Ficci-Frames in Mumbai that the group’s digital media initiative will be carried out through a separate company called DMCL (Digital Media Convergence Ltd) that will facilitate the availability of digital content in India in association with Intel.

    In the past, Chandra has gone on record saying that the company would explore opportunities of unlocking shareholders’ value by hiving off Siti Cable as a separate company and possibly listing it also.

    Zee Telefilms subscription revenue (mainly garnered through distribution of TV channels; in India, Siti Cable is the vehicle) has been on the upswing with the company clocking Rs 1,751 million for the third quarter ended 31 Dec, 2005, signifying an increase of 7.8 per cent as compared to the corresponding period last fiscal.

    Out of the total subscription revenue, domestic subscription amounted to Rs 716 million for the Q3 2006.

    Meanwhile, the senior executive of Zee Telefilms talking to Indiantelevision.com said that the company in 2006-07 hoped to do better than the annual average advertising industry growth of 9-11 per cent.

    Buoyed by good ad revenue (Q3 revenue: Rs 1,698 million, an increase of 12.3 per cent YoY), Zee Telefilms is set to increase ad rates across all channels by 30-40 per cent from the next financial year starting 1 April 2006.

    In the last one month, shares of Zee Tele have been heading northward rising to over Rs. 250 during the intra-day trading on 23 March from being quoted at Rs 168.15 on 22 February on the BSE.

    On Thursday, the Zee Tele scrip closed at Rs 242.70 after opening the day at Rs. 238.50.