ITV

Tag: Jagran TV

  • IBN18 Q2 net loss at Rs 107.94 million

    IBN18 Q2 net loss at Rs 107.94 million

    MUMBAI : IBN18 (erstwhile Global Broadcast News) has posted a stand alone net loss of Rs 107.94 million in the quarter ended 30 September 2008, as against a loss of Rs 63.60 million in the same quarter of last year.

    The scheme of arrangement between BK Fincap, Jagran TV (JTV) and the company for acquisition of IBN 7 business from JTV and merger of BK Fincap into the company with effect 1 and 2 October 2007 respectively has been approved by the Delhi High Court and Allahabad High Court during the quarter.

    Consequently the net loss of Rs 67.8 million and Rs Nil (as per management accounts) on behalf of JTV and BK Fincap respectively for the second quarter FY 09 and net loss of Rs 155.1 million and Rs nil on behalf of JTV and BK Fincap respectively will be merged with the IBN18 Broadcast.

    IBN Lokmat has incurred a loss of Rs 96.4 million. The company’s share of loss based upon its holding in IBN Lokmat is Rs 48.2 million for the second quarter. Having regard to the long term investment and strategic involvement, no provision is considered necessary for diminution in the value of investment.

    During the quarter, the company’s revenue stood at Rs 304.65 million as compared to Rs 259.96 million in the year ago period.

    IBN18’s expenditure has jumped to Rs 386.2 million in the second quarter of FY 09 as against Rs 301.9 million in the corresponding quarter of last fiscal. It has spent Rs 90.15 million on marketing, distribution and promotional expenses.

    On a consolidated basis, the company’s net loss stands at Rs 189.4 million on revenue of Rs 307.68 million for the second quarter of the current fiscal.

    Consolidated expenses for the company is Rs 434 million.

  • IBN 7 to be merged with GBN; 5:1 stock split announced

    MUMBAI: Global Broadcast News Ltd today announced the merger of Hindi news channel IBN-7 within itself after acquiring the balance stake in the holding company and a 5-for-1 stock split.

    The balance stake in Jagran TV Pvt LTD, the joint venture holding company, is presently with the Gupta family, IBN 7’s original promoters and owners of Hindi print major Dainik Jagran.

    GBN will issue 1,467,390 shares of Rs 10 each (4. 45 per cent of GBN’s capital after dilution and exercise of 3,000,000 warrants) to the Gupta family for the balance stake in Jagran TV. A further 1,793,478 equity shares of RS 10 each of GBN will be held in a Trust.

    “The Board also accorded approval for sub-division of the nominal value of its equity share from the present RS 10 per share to RS 2 per share resulting in a 5-for-1 stock split,” according to an official statement.

    The announcement follows GBN’s acquisition earlier this week of a 10 per cent direct stake in Jagran TV from New Vernon Pvt Equity LTD for RS 200 million. Prior to that transaction, GBN held a 49 per cent stake in the joint venture holding company BK Fincap, which held 90 per cent stake of Jagran TV (the remainder being with New Vernon).

    Besides, IBN 7, GBN also owns CNN IBN. It is also entering the regional news space with the launch of a Marathi news channel with Lokmat Group.

    Through GBN, Network18 operates a joint venture with Viacom called Viacom18. The JV operates the MTV, VH1 and Nickelodeon channels in India – as also Studio18, the Group’s filmed entertainment operation and will be launching a Hindi general entertainment channel.

  • GBN buys out New Vernon’s stake, ups holding in Jagran TV to 55%

    MUMBAI: Global Broadcast News (GBN) is buying out the 10.01 per cent stake of Mauritius-based New Vernon Private Equity Fund in Jagran TV for Rs 200 million.

    With this, GBN will hold around 55 per cent stake in Jagran TV which owns and operates Hindi language news channel IBN 7.

    Last year GBN had picked up 49 per cent in BK Fincap, the holding company of Jagran TV.

    “We will be holding around 55 per cent in Jagran TV. We have bought out the stake of New Vernon,” GBN joint managing director Sameer Manchanda tells Indiantelevision.com.

    Even as private equity fund New Vernon has exited from Jagran TV, the Gupta family who are founder-promoters, continue to hold stake in Jagran TV.

    GBN board has approved the acquisition of 13,47,231 equity shares, or 10.01 per cent, from New Vernon in Jagran TV, the company said on Monday.

    GBN plans to launch its Marathi news channel in the first quarter of 2008, says Manchanda. GBN has a 50:50 joint venture with Lokmat group for the Marathi news channel.

    “we are looking at other regional news channels but haven’t firmed up our plans yet,” adds Manchanda.

  • Channel7 news channel renamed IBN7

    Channel7 news channel renamed IBN7

    NEW DELHI: What had been earlier put off has finally happened. Channel7 has been rechristened IBN7 and has been sporting the new name from India’s Independence Day, 15 August.
    This has been done to integrate the synergies between English language CNN IBN and the Hindi Channel7, in which the Television Eighteen Group bought controlling stake earlier this year.

    The on-air look of IBN7, including the channel ID, programme stings, on-air graphics, will give the channel a contemporary look and feel. The logo of IBN 7 in red, black and white reflects the brand identity and corporate philosophy of Global Broadcast Network (GBN), which is in sync with CNN IBN, an official statement said.

    Eight months ago, the Television Eighteen-controlled GBN had presented CNN IBN, which over the period has become a leading English news channel, driven by the spirit of Whatever it Takes.

    Now this spirit extends to IBN 7, which would embark on the principle of delivering khabar, har keemat par or Whatever it Takes, the statement added.

    Highlighting the philosophy behind this move CNN IBN and IBN7 chief editor Rajdeep Sardesai was quoted in the statement as saying, “We are delighted to launch IBN 7, our 24-hour Hindi news channel for the benefit of the Hindi news viewers. With the introduction of IBN 7, GBN attempts to expand its reach in India.”

    He added: “We are confident that CNN-IBN and IBN 7 together will bring to the discerning viewers a holistic approach to news delivery.”

    According to IBN 7 managing editor Ashutosh, the channel will present multi-genre news programming package for the Hindi news viewers and the focus will be on building a channel that broadcasts news as it happens, when it happens, wherever it happens.

    It was 19 January 2006 that Indiantelevision.com first broke the news that GBN, owners of English news channel CNN IBN, were in talks with Jagran TV, parent company of Channel7, aimed at making the Hindi news channel a part of the GBN stable through a joint venture.

  • TV18 net up 65% at Rs 138.21 million

    TV18 net up 65% at Rs 138.21 million

    MUMBAI: Television Eighteen’s consolidated net profit has shot up 65 per cent to Rs 138.21 million for the first quarter of this fiscal, as against Rs 83.51 in the year-ago period.

    TV18’s revenue has also seen a 55 per cent jump to stand at Rs 416.07 million. In the first quarter of FY06, the company’s turnover was Rs 269.17 million. Early this year, TV18 had picked up a stake in Jagran TV, the managers of the Hindi news channel –Channel7.

    Revenue from news operations rose to Rs 364.52 million, from Rs 257.31 million a year ago. TV18’s internet business has crossed $1 million during this quarter. The new media assets include the recent acquistion of jobstreet.com (Indian arm). The group plans to hive off its internet business this year.

    TV18’s operating profit has gone up 57 per cent to Rs 213.76 million, up from Rs 136.45 million. The company has maintained an operating margin of over 50 per cent.

    TV18’s restructuring scheme, which would make it compliant with the uplinking guidelines laid down by the government, has been approved by Delhi High Court.

    “Our revenues continue to show robust growth and we expect to benefit significantly from the increase in distribution platforms for our services – via DTH, broadband, digital cable and mobile,” Television Eighteen MD Raghav Bahl says:

  • Channel7 re-launches with new on-air look

    Channel7 re-launches with new on-air look

    MUMBAI: Starting 5 June, Hindi news channel Channel7 will relaunch donning a new on-air look.

    Florida-based VDO has developed the new look for the channel where the management control was recently taken over by the Television Eighteen Group from Jagran TV.

    The new logo, look and packaging are designed to contemporize the network, informs an official release from Channel7.

    The entire on-air environment, which includes the channel identity, show openers and on-air graphic packages, has been created keeping in consideration the changing preferences of the viewers, the channel claimed.

    The channel’s director marketing Dilip Venkatraman said in a statement, “The idea behind the new logo is to give it a contemporary look. The new logo is also aimed at communicating the core brand values of the channel and its
    philosophy.”

    According to VDO senior producer Dianne Streyer, “The idea behind changing the on-air look of the channel was to make it more modern and connect with the viewers. The Indian market is cluttered with plethora of news channels and it was important to give it a distinctive look to create a unique identity for Channel 7.”

    VDO was also instrumental in developing the on-air look for CNN-IBN. The company designs brand packaging solutions for networks, broadcast groups, stations and cable channels. Its client portfolio boasts of well known
    broadcasters such as NBC, CBS, ABC and Fox.