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Tag: Mail Today

  • India Today suspends print publication Mail Today; turns digital

    India Today suspends print publication Mail Today; turns digital

    NEW DELHI: Most newspapers in India are facing an uphill task to maintain their readership amidst the pandemic. India Today too faced the burn. The group announced that its English language tabloid Mail Today will suspend its print publication with effect from 10 August 2020. The reason stated is that the print segment has been hit due to the pandemic but the content shall continue to be published in the digital format.

    The BSE filing read that the newspaper Mail Today comprises an insignificant portion of the business of the company. Mail Today newspaper in its physical mode contributed less than two per cent to the total revenues of the company during the quarter ended 30 June 2020, therefore, the said the suspension shall not have any material impact on overall business of the company.

    Last year, India Today’s opinion website DailyO got shut and it was reported that many employees lost their jobs. 

  • TV Today to reorganise tabloid and radio business

    TV Today to reorganise tabloid and radio business

    BENGALURU: TV Today Network Limited (TVTN) has informed the bourses that its board of directors has inter-alia approved the acquisition of equity shares of Mail Today Newspapers Private Limited (Mail Today) from its other shareholders and to reorganise its radio business subject to the requisite approvals.

    Mail Today

    TVTN says that Mail Today is of strategic importance to it and can be of great value in the future. Living Media India Limited (LMIL) holds 66.78 percent of the equity shares through its wholly owned subsidiary India Today Online Private Limited (ITOPL), while AN (Mauritius) Limited holds 25.21 percent of the equity shares of Mail Today. Both the entities will transfer the shares to TVTN as a gift so that Mail Today becomes a wholly owned subsidiary of the company. TVTN has valued the equity shares held by ITOPL at Rs 26.80 crore and those held by AN (Mauritius) Limited at Rs 10.12 crore. TVTN says that the fair value loss under IND AS in connection with investment in Mail Today shares presently held by the company amounted to Rs 42.30 crore.

    Mail Today has an authorised share capital of Rs 135 crore, out of which Rs129.09 crore is the paid up capital. It had turnover of Rs 40.43 crore and profit after tax of Rs 6.01 crore for FY-15-16.

    Radio Business

    The TVTN board of directors have approved the acquisition of 100 percent the paid-up capital of Vibgyor Broadcasting Private Limited (VBPL) for the purpose of re-organising its radio business by transferring its radio business through slump sale to VBPL. The price at which the transfer is to take place will be decided at the next board meeting.

    TVTN says that the transfer of the radio business into a separate company is being done to segregate the radio business operations and to have better focused management for the same and enhance the business value in the subsidiary.

    It may be recalled that TVTN has been partially successful in selling off a few of its radio stations to Entertainment Network India Limited (ENIL, Radio Mirchi) of the Bennet Coleman group and has also recently signed ENIL on to hawk ads for its three remaining stations. Permission to sell the remaining three stations to ENIL has been denied by the MIB.

  • TV Today to reorganise tabloid and radio business

    TV Today to reorganise tabloid and radio business

    BENGALURU: TV Today Network Limited (TVTN) has informed the bourses that its board of directors has inter-alia approved the acquisition of equity shares of Mail Today Newspapers Private Limited (Mail Today) from its other shareholders and to reorganise its radio business subject to the requisite approvals.

    Mail Today

    TVTN says that Mail Today is of strategic importance to it and can be of great value in the future. Living Media India Limited (LMIL) holds 66.78 percent of the equity shares through its wholly owned subsidiary India Today Online Private Limited (ITOPL), while AN (Mauritius) Limited holds 25.21 percent of the equity shares of Mail Today. Both the entities will transfer the shares to TVTN as a gift so that Mail Today becomes a wholly owned subsidiary of the company. TVTN has valued the equity shares held by ITOPL at Rs 26.80 crore and those held by AN (Mauritius) Limited at Rs 10.12 crore. TVTN says that the fair value loss under IND AS in connection with investment in Mail Today shares presently held by the company amounted to Rs 42.30 crore.

    Mail Today has an authorised share capital of Rs 135 crore, out of which Rs129.09 crore is the paid up capital. It had turnover of Rs 40.43 crore and profit after tax of Rs 6.01 crore for FY-15-16.

    Radio Business

    The TVTN board of directors have approved the acquisition of 100 percent the paid-up capital of Vibgyor Broadcasting Private Limited (VBPL) for the purpose of re-organising its radio business by transferring its radio business through slump sale to VBPL. The price at which the transfer is to take place will be decided at the next board meeting.

    TVTN says that the transfer of the radio business into a separate company is being done to segregate the radio business operations and to have better focused management for the same and enhance the business value in the subsidiary.

    It may be recalled that TVTN has been partially successful in selling off a few of its radio stations to Entertainment Network India Limited (ENIL, Radio Mirchi) of the Bennet Coleman group and has also recently signed ENIL on to hawk ads for its three remaining stations. Permission to sell the remaining three stations to ENIL has been denied by the MIB.

  • TV Today’s print plans

    TV Today’s print plans

    MUMBAI: TV Today Network will hold a strategic investment of 13 per cent in Mail Today Newspapers and plans to also directly pursue print expansion in the languages segment.

    The company, which owns and operates a clutch of news channels including Aaj Tak and Headlines Today, has already paid Rs 370 million out of the deal amount of Rs 455 million.

    “The investment in Mail Today is strategic. The print expansion plan will be outside this,” a source close to the company said.

    Mail Today, a daily newspaper in compact format, is a joint venture between the India Today Group and Daily Mail of London.

      TV Today is researching into how it can expand into print. It plans to get into regional language newspapers, the source added.

    TV Today chief executive officer G Krishnan was not available for comment.

    The company had earlier acquired the radio business of Radio Today Broadcasting, a promoter group company, for a valuation of Rs 1.2 billion.

    Some media analysts feel cracking the newspaper language markets will be very difficult as there are existing players strongly entrenched in them.

    ”We are unhappy with the radio acquisition, especially due to the high valuation. It is better if TV Today launches regional news channels rather than entering print (a high gestation period business) or the radio space (a highly competitive and extremely small revenue potential media vertical). The entry into radio and print could be value destructive,” an analyst at a broking firm said.

    A media observer, however, said the revenue and valuation potential would be much higher in case of print. “They will expand into regional news channels as well. They are waiting for the right time.”

    TV Today’s consolidated second-quarter Ebitda turned negative for the first time in 24 quarters as revenue dipped 6.6 per cent while expenses climbed. Net loss for the three-month period ended September 2010 stood at Rs 76 million. The company, however, is expected to post a strong revenue growth in the third quarter and be profitable.