ITV

Tag: Gurdeep Singh

  • Hathway Cable cuts cord with Patiala venture in Rs 25 lakh deal

    Hathway Cable cuts cord with Patiala venture in Rs 25 lakh deal

    MUMBAI: Cable TV MSO and broadband provider Hathway Cable &  Datacom Ltd has flogged its entire 49 per cent stake in Hathway Patiala Cable Pvt Ltd for a cool Rs 25,00,000, the company announced on 24 March.

    The broadband behemoth completed the share transfer around 4:00 p.m. (IST), washing its hands of the Patiala operation by selling 71,175 equity shares to Jujhar Constructions & Travels Pvt Ltd.

    “The investment in Hathway Patiala was passive investment and had no contribution to the consolidated turnover and net worth of the Company for the FY2023-24,” the firm declared in its regulatory filing.

    Jujhar Constructions, a real estate and transportation outfit incorporated under the Companies Act, 1956, already has ties to Hathway Patiala through its director and shareholder Gurdeep Singh. Singh, who has been pulling strings at Hathway Patiala, will now see his firm take complete control of the cable operation.

    The cable giant was quick to note that Jujhar has no connection to Hathway’s promoter groups or other affiliated companies, maintaining that the transaction doesn’t constitute a related party deal.

    For Hathway, this move appears to be less about cutting losses and more about trimming the fat from its extensive cable empire, with the Patiala operation apparently contributing nothing to the company’s bottom line last financial year.

    The transaction was promptly reported to regulators under disclosure requirements of the Securities and Exchange Board of India.

  • Fastway entertainment industry launches IPTV set-top box

    Fastway entertainment industry launches IPTV set-top box

    Mumbai: Fastway, a provider of digital cable TV & broadband services, has announced the launch of Next Gen IPTV Set Top Box, which is set to revolutionise the way consumers experience entertainment.

    The all-new IPTV STB offers many features designed to enhance the overall entertainment experience. Subscribers will have access to over 500 live TV channels, Including 100 channels with popular regional content ensuring that there is always something to watch for every family member.

    The powerful Catch-Up TV feature allows users to access content up to 7days, ensuring they never miss out on their favourite shows. Whether you missed a live broadcast or want to re-watch your favourite part of a show, Catch Up TV has you covered.

    The Video on Demand (VOD) feature provides access to a staggering 10,000+ movies giving users unlimited options for entertainment.

    In a statement at the press conference, Dr Prem Ojha CEO expressed his excitement about the launch of the IPTV STB. “We are extremely delighted to bring to you next-gen IPTV STB which offers world-class converged services including high-speed unlimited Broadband, Video, Voice and OTT on a single platform. The launch of IPTV services will further enhance value for our consumers and take their experience to the next level.

    Jujhar Group founder & chairman Gurdeep Singh commented, “This launch represents a power-packed value proposition that the brand proudly offers to its consumers. It delivers the most cost-effective and affordable form of entertainment. The brand is deeply committed to understanding and addressing the needs of its customers, consistently providing the best solutions tailored to enhance their viewing experience.”

    The IPTV STB will also facilitate access to OTT content, thereby presenting a variety of premium regional and national content from top providers such as Hotstar, SonyLIV, ZEE5, Chupal, and many more. From regional and national channels to truly unlimited data and free OTT apps, with HD voice calls, IPTV STB offers something versatile and facile.

    The launch of IPTV STB underlines Fastway’s commitment to delivering innovative and high-quality digital services to consumers. With its unparalleled features and content offerings, the IPTV STB is certainly going to rewrite the rules of entertainment and present an unrivalled viewing experience to users.

  • RS TV audit sought, content sharing with Prasar proposed by Veep

    RS TV audit sought, content sharing with Prasar proposed by Veep

    MUMBAI: India’s vice-president M Venkaiah Naidu, who is also the chairman of Rajya Sabha, has sought audit of the upper house broadcaster.

    RSTV, Naidu also said, should be able to quantify the reach of the channel (viewership) besides having systems for feedback on and evaluation of content. Efforts, he said, needed to be made to expand its reach with a clear plan of action, suggesting the possibility of synergy with Prasar Bharati through sharing of content.

    During a review, he was surprised to notice it was spending Rs 125 million for making “Raag Desh,” a commercial film produced by former RS TV editor and CEO Gurdeep Singh Sappal. It was based on Indian National Army trials, the court martial of its officers — Col Gurbaksh Singh Dhillon, Col Prem Sehgal and Major Shah Nawaz Khan.

    Naidu was informed that the channel had invested around Rs 3.75 billion since August 2011 when it started, the Times of India reported.

    Naidu sought a full-fledged professional and expense audit after he also found that an annual rent of Rs 250 million was being paid for office premises in New Delhi and around Rs 35 million spend on housing-keeping and hiring of cabs. Naidu wants to, instead, explore the possibility of owning an office.

    Naidu also questioned on RS TV’s original mandate, reach of the channel, present content mix, utilisation of manpower and other resources, expenditure, and the scope for rationalisation, Mint reported.

    The Competition Commission of India (CCI) meantime ordered a probe against the pubcaster Prasar Bharati for alleged abuse of dominance with regard to infrastructural facilities for FM radio broadcasting.

    The probe was ordered based on a complaint filed by Mumbai-based Clear Media against Prasar and the MIB. Clear Media had entered into an agreement with Prasar in 2006 for using its common transmission tower in Delhi. The dispute started after the collapse of the tower in 2014.

    The fair trade regulator, however, rejected similar complaints against the MIB, saying it was a government department responsible for framing rules without any involvement in any economic activity.

  • Big deals happening in telecom towers

    Big deals happening in telecom towers

    MUMBAI: Valuation in the business of telecom towers has averaged out over the past decade when the sector witnessed a battery of PE firms negotiate deals in India. There have been, over the past year, a few large deals in the sector.

    American private equity firm Providence, specialising in media, telecom, and technology investments, is reportedly exchanging its holding in Aditya Birla Telecom Ltd (ABTL) with a 4.8% stake in Indus Towers Ltd. The planned potential deal is expected to be a stock swap for Providence.

    The stake for Providence may be worth around Rs 3,000 crore according to estimates in the backdrop of recent deals in the telecom tower space in India.

    VCCircle has reported that the country’s largest telecom tower firm Indus Towers is a three-way joint venture with Bharti Infratel Ltd (42%), Vodafone India (42%) and ABTL (16%). Providence Equity Partners owns compulsory convertible preference shares of ABTL that give it beneficial stake of around 30% in the privately held firm.

    Indus is an independently managed company offering passive infrastructure services to all telecom operators and broadband service providers. It operates in 15 of India’s 22 telecom service areas including Delhi, Mumbai, Kolkata and states in southern, northern and western regions. As of 31 March 2016, it operated 119,881 towers with 270,006 co-locations.

    The Economic Times, earlier this month, reported that the Aditya Birla Group was looking at restructuring its towers venture that could involve Providence swapping shares of ABTL with a 5% stake in Indus. It reported that the group was seeking to sell a large stake in its captive tower business under Idea Cellular, and may merge that arm with ABTL, and then bring down its equity in the merged entity.

    Reliance Communications recently signed term sheet with Brookfield Infrastructure Group for part-sale of its telecom tower business. RCom is selling 51% stake in tower unit for Rs 11,000 crore. The deal involving 45,000 mobile towers will facilitate RCom to lessen debt burden.Reliance Communications has a net debt of Rs. 42,000 crores as of end-June, which it expects to cut by Rs. 20,000 crore. Reliance had been looking to sell its mobile towers business, and had expected to seal a deal by October, CEO Gurdeep Singh had said earlier.

    American Tower Corporation, a year ago, purchased a 51% stake in telecom tower firm Viom Networks for Rs 7,635 crore. Co-promoted by Tata Group and the Kanoria family of SREI Infrastructure, Viom had private investors, some of whom had backed the Kanorias’s Quippo Telecom Infrastructure.

  • Big deals happening in telecom towers

    Big deals happening in telecom towers

    MUMBAI: Valuation in the business of telecom towers has averaged out over the past decade when the sector witnessed a battery of PE firms negotiate deals in India. There have been, over the past year, a few large deals in the sector.

    American private equity firm Providence, specialising in media, telecom, and technology investments, is reportedly exchanging its holding in Aditya Birla Telecom Ltd (ABTL) with a 4.8% stake in Indus Towers Ltd. The planned potential deal is expected to be a stock swap for Providence.

    The stake for Providence may be worth around Rs 3,000 crore according to estimates in the backdrop of recent deals in the telecom tower space in India.

    VCCircle has reported that the country’s largest telecom tower firm Indus Towers is a three-way joint venture with Bharti Infratel Ltd (42%), Vodafone India (42%) and ABTL (16%). Providence Equity Partners owns compulsory convertible preference shares of ABTL that give it beneficial stake of around 30% in the privately held firm.

    Indus is an independently managed company offering passive infrastructure services to all telecom operators and broadband service providers. It operates in 15 of India’s 22 telecom service areas including Delhi, Mumbai, Kolkata and states in southern, northern and western regions. As of 31 March 2016, it operated 119,881 towers with 270,006 co-locations.

    The Economic Times, earlier this month, reported that the Aditya Birla Group was looking at restructuring its towers venture that could involve Providence swapping shares of ABTL with a 5% stake in Indus. It reported that the group was seeking to sell a large stake in its captive tower business under Idea Cellular, and may merge that arm with ABTL, and then bring down its equity in the merged entity.

    Reliance Communications recently signed term sheet with Brookfield Infrastructure Group for part-sale of its telecom tower business. RCom is selling 51% stake in tower unit for Rs 11,000 crore. The deal involving 45,000 mobile towers will facilitate RCom to lessen debt burden.Reliance Communications has a net debt of Rs. 42,000 crores as of end-June, which it expects to cut by Rs. 20,000 crore. Reliance had been looking to sell its mobile towers business, and had expected to seal a deal by October, CEO Gurdeep Singh had said earlier.

    American Tower Corporation, a year ago, purchased a 51% stake in telecom tower firm Viom Networks for Rs 7,635 crore. Co-promoted by Tata Group and the Kanoria family of SREI Infrastructure, Viom had private investors, some of whom had backed the Kanorias’s Quippo Telecom Infrastructure.

  • RCom reduces debt burden with 51% towers biz sale to Brookfield

    RCom reduces debt burden with 51% towers biz sale to Brookfield

    MUMBAI: Reliance Communications, an integrated telecommunications service provider, announced that it has signed term sheet with Brookfield Infrastructure Group for part-sale of its telecom tower business. RCom is selling 51% stake in tower unit for Rs 11,000 crore. The deal involving 45,000 mobile towers will facilitate RCom to lessen debt burden.

    Reliance Communications has a net debt of Rs. 42,000 crores as of end-June, which it expects to cut by Rs. 20,000 crore. Reliance had been looking to sell its mobile towers business, and had expected to seal a deal by October, CEO Gurdeep Singh had said earlier.

    Under the existing conditions, the specified assets are intended to be transferred from Reliance Infratel Ltd. (RITL) on a going concern basis into a separate SPV, to be owned by Brookfield. RCom will own 49% in the SPV.

    RCom will receive an upfront cash payment of Rs 11000 crore, and will also enjoy 49% future economic upside from the towers business, based on certain conditions.

    RCom said that, under the term sheet, the specified assets are intended to be transferred from Reliance Infratel (RITL) on a going concern basis into a separate special purpose vehicle (SPV), to be owned by Brookfield. RCom will continue as an anchor tenant on the tower assets, under a long term MSA, for its integrated telecommunications business.

    RCom and Brookfield expect considerable growth in tenancies based on increasing 4G offerings by all telecom operators, and the fast accelerating trends in data consumption, which are expected to contribute to significant growth in revenues and profitability for the towers business in the future.

    RCom and Brookfield also see several opportunities for consolidation in the towers industry in India that will further enhance growth and value creation in the future. The proposed transaction is subject to definitive documentation, customary approvals and certain other terms and conditions.

    RCom will continue as an anchor tenant on the tower assets, under a long-term pact, for its integrated telecom business.

    Both companies expect considerable growth in tenancies on the back of increasing 4G offerings by all telecom service providers, and data consumption growth, as they are expected to contribute to significant growth in revenues and profitability for the towers business in the future.

  • RCom reduces debt burden with 51% towers biz sale to Brookfield

    RCom reduces debt burden with 51% towers biz sale to Brookfield

    MUMBAI: Reliance Communications, an integrated telecommunications service provider, announced that it has signed term sheet with Brookfield Infrastructure Group for part-sale of its telecom tower business. RCom is selling 51% stake in tower unit for Rs 11,000 crore. The deal involving 45,000 mobile towers will facilitate RCom to lessen debt burden.

    Reliance Communications has a net debt of Rs. 42,000 crores as of end-June, which it expects to cut by Rs. 20,000 crore. Reliance had been looking to sell its mobile towers business, and had expected to seal a deal by October, CEO Gurdeep Singh had said earlier.

    Under the existing conditions, the specified assets are intended to be transferred from Reliance Infratel Ltd. (RITL) on a going concern basis into a separate SPV, to be owned by Brookfield. RCom will own 49% in the SPV.

    RCom will receive an upfront cash payment of Rs 11000 crore, and will also enjoy 49% future economic upside from the towers business, based on certain conditions.

    RCom said that, under the term sheet, the specified assets are intended to be transferred from Reliance Infratel (RITL) on a going concern basis into a separate special purpose vehicle (SPV), to be owned by Brookfield. RCom will continue as an anchor tenant on the tower assets, under a long term MSA, for its integrated telecommunications business.

    RCom and Brookfield expect considerable growth in tenancies based on increasing 4G offerings by all telecom operators, and the fast accelerating trends in data consumption, which are expected to contribute to significant growth in revenues and profitability for the towers business in the future.

    RCom and Brookfield also see several opportunities for consolidation in the towers industry in India that will further enhance growth and value creation in the future. The proposed transaction is subject to definitive documentation, customary approvals and certain other terms and conditions.

    RCom will continue as an anchor tenant on the tower assets, under a long-term pact, for its integrated telecom business.

    Both companies expect considerable growth in tenancies on the back of increasing 4G offerings by all telecom service providers, and data consumption growth, as they are expected to contribute to significant growth in revenues and profitability for the towers business in the future.

  • Reliance ADA group to hive off DTH operations

    Reliance ADA group to hive off DTH operations

    MUMBAI: The Anil Ambani-owned DTH service Reliance Digital TV which claims to have a five million net subscriber base and an estimated two million active connections is likely to be hived off in to a separate company. For the past three or four years, Reliance Communications, the parent company has been seeking a buyer for the venture. It had spoken to Sun TV in the past but the valuations and expectations did not match what the former was willing to pay for Reliance Digital TV. Unconfirmed reports say that the company had inconclusive conversations with other potential partners too. Hence, it has decided to go for a spin off of its DTH service business which has been relatively stagnant.

    Reliance Communications, the parent company of Reliance Digital, is being driven to do this to pare its debt-EBIDTA ratio. Speaking to investors yesterday RCOM CEO (consumer business) Gurdeep Singh said that the idea was to bring that number from 4.64 currently to about three in 18-24 months. Other assets that could be seeking buyers include equity stakes in its international operations at Reliance Globalcom, and in its tower unit Reliance Infratel.

    “We are looking to bring down our debt-to-EBIDTA ratio to around 3 within 18-24 months and are looking at monetizing our non-core assets to deleverage the balance sheet,” Reliance Communications (RCom) CEO (Consumer Business) Gurdeep Singh informed PTI. He added: “For this, we are looking at hiving off the DTH business, stake sale in our international operations at Reliance Globalcom, monetization of our real estate assets, as well as a possible divestment in Reliance Infratel, which handles our towers portfolio.”

    The group earlier this week announced the merger of its wireless business with another telco Aircel. It is also looking to raise $1 billion (approximately Rs 6,686.5 crore) in equity to expand the venture and make possible payments to the government for mobile spectrum use.

  • Reliance ADA group to hive off DTH operations

    Reliance ADA group to hive off DTH operations

    MUMBAI: The Anil Ambani-owned DTH service Reliance Digital TV which claims to have a five million net subscriber base and an estimated two million active connections is likely to be hived off in to a separate company. For the past three or four years, Reliance Communications, the parent company has been seeking a buyer for the venture. It had spoken to Sun TV in the past but the valuations and expectations did not match what the former was willing to pay for Reliance Digital TV. Unconfirmed reports say that the company had inconclusive conversations with other potential partners too. Hence, it has decided to go for a spin off of its DTH service business which has been relatively stagnant.

    Reliance Communications, the parent company of Reliance Digital, is being driven to do this to pare its debt-EBIDTA ratio. Speaking to investors yesterday RCOM CEO (consumer business) Gurdeep Singh said that the idea was to bring that number from 4.64 currently to about three in 18-24 months. Other assets that could be seeking buyers include equity stakes in its international operations at Reliance Globalcom, and in its tower unit Reliance Infratel.

    “We are looking to bring down our debt-to-EBIDTA ratio to around 3 within 18-24 months and are looking at monetizing our non-core assets to deleverage the balance sheet,” Reliance Communications (RCom) CEO (Consumer Business) Gurdeep Singh informed PTI. He added: “For this, we are looking at hiving off the DTH business, stake sale in our international operations at Reliance Globalcom, monetization of our real estate assets, as well as a possible divestment in Reliance Infratel, which handles our towers portfolio.”

    The group earlier this week announced the merger of its wireless business with another telco Aircel. It is also looking to raise $1 billion (approximately Rs 6,686.5 crore) in equity to expand the venture and make possible payments to the government for mobile spectrum use.

  • Talenthouse India to host 2nd edition of India Mobile Film Festival

    Talenthouse India to host 2nd edition of India Mobile Film Festival

    MUMBAI: Royal Stag Barrel Select Large Short Films India Mobile Film Festival (IMFF 2016), in association with Reliance Communication & Talent house India, have created a platform for filmmakers to showcase their original creations by just using their mobile phones. The objective was to create a game changing platform for short films in India, which reduces the entry barrier for film-makers and bring creativity to the forefront. With a variety of smart phones on the market, every smartphone user (220 Mn+) in India is a potential film-maker.

    Royal Stag Barrel Select Large Short Films also showcases films made by some of India’s finest such as Anurag Kashyap, Sudhir Mishra, Sujoy Ghosh and inspires aspiring directors to create film and rewards them for their originality by showcasing them on the platform.

    Commenting on the project Pernod Ricard India AVP marketing Raja Banerji said, “Royal Stag Barrel Select Large Short Films was conceptualised to support the short film format in our country. We are proud to be the presenting partner to India Mobile Film Festival, an edgy and ground-breaking idea. In line with the Barrel Select philosophy of “Make it Perfect”, the brand intends to create a format to encourage creativity with this unique concept and connect with the discerning audience by offering a unique experience of fresh content through this platform. The Brand has always encouraged people to strive for perfection to achieve their dreams and Make it Large.”

    Reliance Communications CEO consumer business Gurdeep Singh said “The Indian Mobile Film Festival (IMFF 2016) marks the beginning of a true revolution and transition on the art & culture scene and RCOM is delighted to partner with Talenthouse India and support the efforts,”. We are now at an age when smartphones are being used to express creativity with minimal budgets resulting in some extraordinary artistic and cinematic feat. We wish IMFF 2016 all the very best for this event and all their future endeavors,” he added.

    Talenthouse India CEO Arun Mehra said, “After a successful first edition in 2015 where we received around 400 films and support from the industry and film-makers, we set out to make 2016 even bigger than last year. Talenthouse India is the largest curator of short films in India over the last 3 years. The idea of using a mobile phone to shoot films, had to be taken to the next level and we added a new Internationalfilm category this year because we believe that this format is global in nature. With support from our partners, Royal Stag Barrel Select Large Short Films & Reliance Communications, we were delighted to receive over 1200 films across categories from 7 countries. The artistic community has always provided us with exceptional content and this time has been no different.”

    IMFF 2016 reached out to film-makers and budding artists across 60 Indian cities through a combination of Digital & on-ground outreach program. According to the IMFF figures, the combined reach for this campaign was about 5 Million and as a result, the campaign crowdsourced over 1200 films from across 60 cities and 7 countries in just 6 weeks.

    This year, the India Mobile Film Festival invited participation in five categories included the newly inducted International category. The categories in 2016 are: Short films (5-10 mins), Micro films (2-5 mins), Nano films (up to 2 mins), International films (up to 10 mins) and My first short (Any interesting, quirky or impactful moments captured candidly on mobile) with cash prizes of over INR 3 lakh and individual awards to be won across categories.

    A panel of renowned jury members, spearheaded by our Chief Mentor Sanjay Gadhvi – (superhit Director of Dhoom 1 and 2) have selected the very best films along with the highly respected film and television actress Shubha Khote, popular Film Actor and Producer Karan Shah, Superhit Editor Rameshwar S. Bhagat and film writer Rohit Banawlikar.