ITV

Tag: files

  • PVR Limited files draft Red Herring Prospectus with Sebi

    MUMBAI: Delhi-headquartered multiplex cinema operator PVR Limited has filed its Draft Red Herring Prospectus with the Securities & Exchange Board of India (SEBI) to enter the capital market with its initial public offering of 7,700,000 equity shares of Rs. 10 each for cash at a price to be determined through the book building process.

    The Book Running Lead Managers to the issue are ICICI Securities Limited and Kotak Mahindra Capital Company Limited.

    The proceeds from the Issue would be utilised to finance new cinema projects, expand film distribution business, technological upgradation and renovation of cinemas. The Company plans to expand its cinema footprint and set up new cinemas in Mumbai, Hyderabad, Delhi, Indore, Gurgaon, Lucknow, Chennai, Ludhiana, Aurangabad and Latur, states an official release.

    The issue comprises of a fresh issue of 5,700,000 equity shares by the company and an offer for sale of 2,000,000 equity shares by The Western India Trustee and Executor Company Limited in its capacity as trustee of India Advantage Fund – I acting through its investment manager ICICI Venture Funds Management Company Limited.

    The issue comprises of a contribution from the promoters of 300,000 equity shares by Priya Exhibitors Private Limited, one of the promoters of PVR Limited, and a reservation for employees of 150,000 equity shares. Thus, the net issue to public stands at 7,250,000 equity shares, the release adds.

    Of the net issue to public, up to 50 per cent i.e. up to 3,625,000 equity shares are reserved for allocation to the Qualified Institutional Buyers including Mutual Funds, on a proportionate basis. Out of this reserved portion, 5 per cent or 181.250 equity shares have been exclusively reserved for allotment to Mutual Funds on a proportionate basis.

    Of the balance, at least15 per cent of the net issue (at least 1,087,500 equity shares) have been reserved for allocation to Non-institutional investors and at least 35 per cent of the net issue i.e. at least 2,537,500 equity shares have been reserved for allocation to retail investors on a proportionate basis.

    The issue will constitute 33.66 per cent of the fully diluted post-issue capital of the company of Rs. 228.7 million.

  • Casbaa files signal piracy suit against Hong Kong bar

    MUMBAI: The Cable & Satellite Broadcasting Association of Asia (Casbaa) is continuing its efforts to stamp out satellite signal piracy in Hong Kong. In its latest move, it has taken legal action against a bar that is airing unlicensed TV broadcasters.
     

    Under Hong Kong law, bars and clubs may only broadcast pay TV channels under an appropriate subscription from a Hong Kong licensed pay TV operator. Casbaa, however, says that many venues pick up illegal signals from operators outside of the country, including UBC in Thailand and Dream in the Philippines. In October 2004, it was estimated that the gross cost associated with pay-TV signal piracy in Hong Kong amounted to HK$200 million over a 12-month period.

    Casbaa and its members have been seeking to raise the consciousness of bars and clubs in Hong Kong that screening pay TV services without legal subscriptions is against the law. Casbaa chairman Marcel Fenez said, “It is with regret that we are now taking this step. Although we have reached out to the food and beverage industry in particular to raise awareness of the illegal nature of unauthorised distribution of pay TV signals in public venues we find that these laws are still not taken seriously by many bars and clubs. Some bars refuse to cease these activities despite being warned several times; we have no choice but to take the matter to the courts.”
     
     

    In parallel with the lawsuit Casbaa is issuing a further series of advisory letters to bars and clubs, as well as to private members clubs, noting that pay TV television signal theft is not to be tolerated. This issue will be raised with club managements and, if necessary, action will be taken against those that continue to infringe.

    Casbaa has also stated that it is pleased that some progress is being made. The majority of bar owners approached have given undertakings to cease screening illegal TV broadcasts.

    “We commend those clubs and bars that screen only legitimate pay television broadcasts. And we continue to encourage bar-goers to contribute to Hong Kong’s economy by giving their patronage to businesses airing legal, Hong Kong-licensed TV services. We want people to enjoy their evenings out in bars and pubs, and to do so in a way that ensures adequate remuneration to Hong Kong’s service providers, international channel programmers, and the sports leagues who stage the games” Fenez added.

    Under Hong Kong law bars and clubs may only display pay-TV channels, such as ESPN or STAR Sports, under an appropriate subscription from a Hong Kong licensed pay-TV operator such as now Broadband Television. Other pay-TV operators such as UBC of Thailand, MultiChoice of South Africa and Dream of the Philippines are not authourised to offer subscriptions in Hong Kong.

    In Hong Kong, besides PCCW (now Broadband TV), the licensed pay-TV operators are Hong Kong Cable Television (i-Cable) and Galaxy Satellite Broadcasting (SuperSUN), all of whom are members of Casbaa.

    “We are all committed to improving this alarming situation so the community is ultimately served with a wider choice and better programming. If vast sums continue to be stolen from the value chain, investment will fall and programming standards will decline” said Fenez.

  • MPAA files lawsuits against six BitTorrent sites

    MUMBAI: Six BitTorrent sites hosting links to others with illegal copies of TV shows have been targeted in lawsuits by the Motion Picture Association of America.

    It is a shift in focus for the MPAA. Since it started legal action against file-sharers in December, its targets have been film indexing sites.
     

    A recent survey said that TV programme downloads had risen by 150 per cent in a year.

    About 70 per cent were using BitTorrent sites, according to the Envisional research. Of the total downloaders, 18 per cent were within the UK, according to the survey.

    In March this year, TV downloading made headlines with the appearance of the long-awaited new series of ‘Doctor Who’ on the net before it was even broadcast.

    The MPAA claimed that it was very worried about the issue.

    According to the MPAA, every television series depends on other markets-syndication – international sales – to earn back the huge investment required to produce the comedies and dramas in those markets, and are substantially hurt when that content is stolen.

    This is the first time that the MPAA has specifically gone after TV-oriented networks in this way, which it says are used by thousands daily.

    It has, however, targeted BitTorrent sites before and has filed 100 lawsuits against operators of BitTorrent server sites since December.

    BITTORRENT SITES HIT

    Shuntv.net
    Zonatracker.com
    Btefnet.net
    Scifi-classics.net
    Cddvdheaven.co.uk
    Bragginrights.biz

    Copies of popular US shows, such as Desperate Housewives and 24, regularly appear hours after they are first aired on networks in the US, and are downloaded by fans around the world eager to see the latest episodes.

    Because TV programmes are usually shorter than films, they are processed – or digitised – quickly.
     
     

    People with increasingly faster broadband connections can download episodes in very little time. But the MPAA says its action to hit those running servers which link to copyrighted material has slowed this.

    The percent of working servers has dropped by more than 40 per cent since it started action, said the MPAA.

    With BitTorrent software, server sites do not host the files being shared. Instead, they host links, called ‘trackers’ which tell people where to go to get the files.

    More than 90 per cent of the sites that the MPAA has sued so far have been shut down entirely.

    The sites which have been closed, such as LokiTorrent, UK Torrent and s0nicfreak, now carry warning messages from the MPAA that read: ‘You Can Click But You Cannot Hide.’

    The MPAA plans to encourage legitimate download sites instead. Several TV companies are experimenting with legal peer-to-peer based downloads, including the BBC.

  • ‘Apprentice’ producer Mark Burnett files lawsuit

    MUMBAI: Reality TV guru Mark Burnett whose company produces the business based reality show The Apprentice has sued an entertainment company.

    The company in question has been accused of telling advertisers that it has exclusive rights to broker agreements to place products on the show. In India the show airs on Star World.
     

    Media reports indicate that in a lawsuit filed last week, Burnett Productions claimed that Madison Road Entertainment charged advertisers up to 250 per cent more than it eventually paid to Burnett to get brands included in the on-air contestant challenges.

    On a more positive note 10 of the biggest names in the rock and rap music industry, including Lil’ Kim, Eve and Fat Joe, join the host Donald Trump and the remaining 10 candidates during tomorrows 10 March 2005 episode.

    The Apprentice regularly challenges contestants to design products or advertising campaigns for such companies as Burger King and Pepsi, which pay to be included in the show. In tomorrow’s episode Candidates join forces with music television network Fuse as they petition these 10 celebrities to donate a “personal experience” that will be auctioned off live on Fuse’s popular “Daily Download” programme.

    After enlisting each of the music artists for a donation, “Magna” and “Net Worth” select team members to pitch the auction items live on television. The team that brings in the most money will be declared the winner and the proceeds benefit the Elizabeth Glaser Pediatric AIDS Foundation.
     
     

    The blending of the corporate and rock worlds spark some truly hilarious moments as candidates struggle to “vibe” with the artists and to speak their “language”. One of the women encounters an overly flirtatious rocker and one of the men’s sexist comments offends the women on his team.
     

  • Shringar Cinemas plans IPO, files with SEBI

    MUMBAI: It is the turn of the film exhibition and distribution companies to go public. Shringar Cinemas Ltd, which operates a chain of multiplexes and distributes movies, is floating an initial public offering (IPO) to raise about Rs 500 million.

    The company is entering the capital market with a public issue of 81,50,000 equity shares of face value of Rs10 each at a price to be determined through 100 per cent book building route to finance its expansion plans.

    Out of the present issue, 50 per cent (39,50,000) shares are reserved for allocation to Qualified Institutional Buyers (QIBs) on discretionary basis, 25 per cent (19,75,000) shares are reserved for allocation to Non Institutional Bidders and 25 per cent (19,75,000) shares are reserved for retail individual bidders both on proportionate basis. The balance 2,50,000 equity shares are reserved for allotment to employees of the company.

    The promoters’ holding will come down from around 65 per cent to 48 per cent. G W Capital, a private equity investment firm which had picked up 35 per cent stake, will bring down its stake to 26 per cent after the IPO.

    The company has filed draft red herring prospectus with Securities and Exchange Board of India (SEBI) on 14 January. Enam Financial Consultants Private Limited and JM Morgan Stanley Private Limited have been appointed as book running lead managers to the issue, informs an official release.

    Shringar Cinemas’s plans for 2005 include the opening of two four-screen multiplexes in Mumbai and two three-screen multiplexes in Pune and Hyderabad.