ITV

Tag: Jeff Sagansky

  • India-focused OTT production Golden Karavan launched, two projects approved, 10 under way

    India-focused OTT production Golden Karavan launched, two projects approved, 10 under way

    MUMBAI: Combining their backgrounds and respective strengths into a powerful new digital production company, entertainment executives from the United States and India have announced the launch of Golden Karavan.

    Golden Karavan is a first-of-its-kind, Indian-focused OTT television production company. With two productions greenlit and 10 more in active development, the outfit intends to create a steady supply of compelling, high-quality content from the region, targeting OTT and digital services including Netflix India and Amazon India.

    The new Mumbai-based entity — set to create and finance a slate of original TV content over the next five years — is the vision of Jeff Sagansky and Florence Sloan of Goldenpeak Productions; Aaron Kaplan of Kapital Entertainment; and Apoorva Bakshi, Pooja Kohli and Sanjay Bachani of FilmKaravan Originals.

    Sagansky, former CBS Entertainment and Sony Pictures senior executive, is an active media investor having taken public companies including Videocon d2h, Global Eagle and overseeing the merger of Double Eagle and Williams Scotsman. Kaplan is founder of Kapital Entertainment, a successful TV production Hollywood company. FilmKaravan describes itself as India’s first digital distribution-led production house promoted and run by Cupertino and Bakshi, Kohli and Bachani.

    By creating and packaging this content for exclusive license, Golden Karavan will provide a compelling answer to the emerging revolution in mobile and OTT/broadband delivery in India, servicing local language audiences with original programming.

    “Given the access to broadband that is transforming the Indian media landscape, the timing is ideal to launch Golden Karavan, a studio that will provide provocative and high-end, Indian-themed content,” said Jeff Sagansky upon making the announcement.

    In 2015, Sagansky and his finance partner Harry Sloan invested in and took public on the NASDAQ Videocon d2h, which will merge with DISH TV later in the year to become the largest distribution company in Asia.

    Added Kaplan: “We recognise the opportunity to focus on the underserved Southeast Asian market with amazing storytellers and talent, both in front of and behind the camera, and we couldn’t have stronger partners leading the creative than we do with Apoorva, Pooja and Sanjay.”

    “Given our extensive knowledge and distribution experience of the Indian film business, Film Karavan wanted to use that expertise to expand into the TV sector,” said Bakshi. “We are hitting the ground running with two series projects greenlit and many others in development.”

    Golden Karavan’s initial slate of OTT projects includes the following:

    • The company has formed collaboration with renowned indie filmmaker Hansal Mehta to adapt Ashwin Sanghi’s best-selling book, “The Sialkot Saga.” Mehta’s most recent directorial venture, “Omerta,” garnered rave reviews when it recently premiered during the Toronto International Film Festival.

    • Golden Karavan is also collaborating with award winning Canadian-Indian auteur Richie Mehta on a yet unnamed drama series. His latest, a Google-funded Ridley Scott initiative called “India in a Day,” was critically applauded worldwide.

    Commented Florence Sloan: “One of the real powers behind Golden Karavan is the ability to creatively curate material with an eye to engage and entertain digital audiences in India. We are pleased with the running start we already have and look forward to bringing more exciting projects to fruition.”

  • Videocon d2h re-appoints Ernst & Young India as internal auditor

    Videocon d2h re-appoints Ernst & Young India as internal auditor

    MUMBAI: Indian direct to home (DTH) operator Videocon d2h has re-appointed Ernst & Young LLP, India for the fiscal year ending 31 March, 2016 to support it in performing internal audit and testing of internal controls over financial reporting for the company.

     
    Ernst & Young LLP, India has served as the internal auditor of the company since 16 February, 2015.
     

    Videocon d2h executive chairman Saurabh Dhoot said, “The re-appointment of Ernst & Young LLP, India will help ensure that the company continues to maintain rigorous internal financial and accounting controls and procedures, and produce accurate financial statements on a timely basis, in line with international best practices.”
     

    Videocon d2h proposed director Jeff Sagansky added, “Following the NASDAQ listing, the company has established international best practices for corporate governance and policies, including those pertaining to related party transactions and internal controls, and are pleased that Ernst & Young LLP, India will continue to help us in this area.”
     

    Ernst & Young LLP, India partner Ashish Pherwani said, “We are happy to partner with Videocon d2h in its journey towards improved practices and controls in an environment of competition and growth.”

  • Videocon d2h appoints Saurabh Dhoot as executive chairman

    Videocon d2h appoints Saurabh Dhoot as executive chairman

    MUMBAI: Direct to home (DTH) company Videocon d2h has named Saurabh Dhoot as executive chairman.

     

    In this newly created position as executive chairman, Dhoot will continue to build the Videocon d2h brand and business model, overseeing all operations and strategic direction for the satellite Pay-TV provider, which has amassed more than 13 million digital subscribers since it launched in 2009.

     

    Based in Mumbai, Dhoot joined Videocon d2h at its inception, serving as executive director.

     

    In this position, he was responsible for overseeing the launch of the Pay-TV service and the initial $650 million investment. Through Dhoot’s leadership, Videocon d2h has achieved many “firsts” in the Indian DTH industry like the launch of 4K Ultra HD channel, the 1000 GB High Definition Digital Video Recorder, Wireless DTH headphones and Radio Frequency DTH Remote amongst others.

     

    “I take great pride in all the success we’ve enjoyed at Videocon d2h, and I feel even more excited about what our terrific team and I will accomplish going forward. With 100 million homes expected to be digitalized in the next five years, Videocon d2h will play a leading role in the ‘Digital India’ campaign. We will continue to bring unique content, new mediums of delivery and innovative services to our consumers. With our new capital infusion from the US, it is time to begin the next wave of exciting growth and expansion,” said Dhoot

     

    In April 2015, Videocon d2h became the first Indian communications and media company to be listed on the NASDAQ stock market. With this IPO, Videocon d2h is now the most valued Indian company on NASDAQ at a market capitalization of $1.2 billion.

     

    Media investors Harry Sloan and Jeff Sagansky of Silver Eagle Acquisition Corp engineered the IPO. Silver Eagle contributed its $325 million cash, before payment for transaction expenses and warrant repurchases, and the Silver Eagle shareholders now own approximately 38 per cent of the equity in Videocon d2h.

     

    “We have been impressed with both Videocon d2h’s rise in India’s DTH market and Saurabh’s talent, energy and vision in leading that charge,” Sloan said.

     

    Sagansky added, “Videocon d2h is poised for growth, whether launching new dedicated channels and Services or increasing the level of advertising revenues. Under Saurabh’s guidance, the company is well positioned to maintain and expand its commanding market share.”

  • Silver Eagle to invest in Videocon d2h for at least one third stake

    Silver Eagle to invest in Videocon d2h for at least one third stake

    BENGALURU: Silver Eagle Acquisition Corp (Silver Eagle), founded by former Metro-Goldwyn-Mayer  (MGM) chairman and chief executive Harry Sloan and veteran television executive Jeff Sagansky, has announced that it will invest between $ 300 million to $375 million in Videocon d2h for a stake of between 33.5 per cent to 38.6 per cent. Sloan and Sagansky are expected to join the Videocon d2h board when the deal closes. Silver Eagle hopes to take Videocon d2h public in the US.

    In exchange for cash, Silver Eagle will receive new equity shares of Videocon d2h initially valued at no less than $303.7 million representing no less than 33.5 per cent of the equity capital of Videocon d2h.  The shares issued by Videocon will be represented by American Depositary Shares (ADSs) which will be distributed directly to Silver Eagle’s stockholders.

    The actual amount of cash to be contributed by Silver Eagle and the number of Videocon d2h shares represented by ADSs to be issued by Videocon d2h will depend, in large part, on the number of public shares which its stockholders elect to redeem in connection with the transaction.

    The current shareholders of Videocon d2h, who are all members of the Videocon Group, will also be entitled to be issued additional equity shares of Videocon d2h following the closing representing, in aggregate, 3.88 per cent of the post-closing issued share capital of Videocon d2h, subject to the achievement of certain trading price targets over a three year period after closing.

    The investment proceeds will be used for reducing debt and expanding operations in India that will undergo the third and fourth phases of cable television digitisation in India, offering large growth opportunities say industry sources.

    Sloan said, “We created Silver Eagle for the purpose of finding a fast-growing media opportunity which is taking full advantage of the digital revolution.  With almost 10 million digital subscribers, this well-managed company has passed the inflection point to become a leader in India’s explosive television growth.”

    Sagansky said, “Videocon’s DTH business is in what we believe to be the fastest growing segment of the media industry in India in part because of the government’s ongoing mandatory digitisation plan in addition to millions of Indian homes subscribing to pay TV for the first time.  Together there is an expected 33 million new Pay-TV subscribers over the next four years and we are pleased to become part of Videocon d2h’s dynamic growth story.”

     

    Videocon Group chairman Venugopal Dhoot said, “Our DTH service already offers the highest number of channels in each of our packages and we were the first company to launch HD channels in India.  We anticipate that the transaction with Silver Eagle will not only give us additional capital to continue development of our services, but also unparalleled expertise and experience.  We look forward to working closely with Harry and Jeff on expanding our market share and services.”

    Videocon d2h started in 2009 is a member of the global conglomerate Videocon Group, which owns interests in consumer electronics, oil and gas, power, retail and insurance, among others.  Videocon d2h has grown to a subscriber base of 1.18 crore or a market share of about 16.5 per cent of India’s direct-to-home market as of last September. It distributes more than 500 digital television channels.

    The deal, when it goes through, will put the valuation of Videocon d2h at around $ 1 billion plus ($ 100 crore).

    Other acquisitions by Sloan and Sagansky include the in-flight entertainment companies Row 44 and Advanced Inflight Alliance AG through Golden Acquisition Corp.