ITV

Tag: Reliance Capital

  • Fame is dead, long live Inox

    Fame is dead, long live Inox

    MUMBAI: In 2011, Inox’s takeover of Fame India made for headlines, while giving a fillip to the Anil Ambani-owned Reliance Capital Partners and becoming the country’s biggest multiplex chain in the bargain.

    Two years later, change is finally happening. On Monday, 17 September the Fame website www.famecinemas.com ceased to exist, and is in the process of moving into the Inox website.

    All Fame properties will henceforth be called Inox. Also, a marketing campaign comprising print, outdoor and radio and spanning over two months has been kicked off to communicate the new name to people. As part of the campaign, there will be advertisements and inserts in a range of newspapers across cities that house Fame multiplexes. The value of marketing across 24 cities is pegged at approximately Rs 15-20 crore by industry sources. Similarly, Fame will undergo physical changes where the new logo of Inox will make its presence felt on tickets, popcorn cups and uniforms worn by the staff.

    About the acquisition, Inox Leisure CEO Alok Tandon said: “The good points of Fame and Inox have been put together. The first phase will see Mumbai experiencing the change this week, after which, Kolkata and Bengaluru are next with cities such as Pune, Panchkula and Dhanbad following suit.”

    Asked why it took two years for the renaming, Tandon said: “The acquisition got finalised only this year in May since we had to visit two courts (Baroda and Mumbai) in two states- . Only after that could we start our renaming process.”

    With 73 multiplexes and 284 screens across 40 cities; of which 25 multiplexes with 94 screens belong to Fame India, Inox is in a happy space. Maharashtra boasts the highest number of Inox multiplexes – 19 with 76 screens, followed by West Bengal with 13 multiplexes and 49 screens. Indeed, the last of Inox’s 73 multiplexes was added only yesterday, in Haryana, with nearly Rs 7-10 crore having gone into the setup. As things stand, Inox claims to attract over four crore movie goers annually.

    What’s more, plans are afoot to expand into cities like Greater Noida, Gurgaon, Jalgaon, Madurai, Jamnagar and Manipal as also increase the existing number of multiplexes in places like Lucknow, Raipur and Surat.

    To mark the change from Fame to Inox, a new ‘Feature Presentation Dater’ has been created, with sound designing by Oscar Award winning Resul Pookutty. “Our aim is to make the audience experience high fidelity,” says Pookutty, adding that an atmos version of the same is on the anvil.

    The question now remains whether Inox will continue to retain its Fame?

  • Reliance Capital to pick up 18% in Bloomberg UTV

    Reliance Capital to pick up 18% in Bloomberg UTV

    MUMBAI: Reliance Capital, part of billionaire Anil Ambani’s empire, is snapping up an 18 per cent interest in business news channel Bloomberg UTV for an undisclosed amount.

    Bloomberg has already applied to the FIPB (Foreign Investment Promotion Board) for a 15 per cent stake in the channel.

    Reliance Capital is buying the stake from the promoters of Bloomberg UTV. Founder-promoter Ronnie Screwvala and associates will, thus, hold the remaining 67 per cent stake. 

    Meanwhile, rumours spread that Ambit would also be picking up a stake. Ambit Group CEO Ashok Wadhwa, however, denied such a move. “We acted as the advisor to the transaction. We are not picking up any stake in Bloomberg UTV. That is not a business we are in,” Wadhwa told Indiantelevision.com.

    Reliance Capital has existing investments in Network18 (which operates CNBC TV18, CNN-IBN, IBN7, Colors and Awaaz channels) and TV Today network (which operates Aaj Tak and Headlines Today). 

    The Reliance Group has 15.49 per cent stake in TV Today, according to data available till 31 March 2010. It also holds 2.09 per cent in Network18 and 4.99 per cent in IBN18.

    The investment will form part of Reliance Capital’s exposure to the fast growing and high potential media sector. 

    Bloomberg UTV is a strategic partnership between Bloomberg L.P., the global leader in business information, and the founders of UTV, one of India’s leading integrated media and entertainment enterprises.

  • Reliance Capital ups stake in TV Today

    Reliance Capital ups stake in TV Today

    MUMBAI: Anil Ambani’s Reliance Capital has progressively upped its stake in TV Today Network to 14.02 per cent, but is still outside the 15 per cent deadline to trigger an open offer for a fresh 20 per cent acquisition.

    Memories of an open offer go back to June 2007 when Reliance Capital took the aggressive step without being forced into it by takeover regulation. Having taken its stake then to 11.93, Reliance fixed the open offer price at Rs 130.50 per share that did not evoke any interest from shareholders to sell their shares.

    Reliance Capital’s renewed interest in TV Today, which runs a clutch of news channels including the Hindi market leader Aaj Tak, reflected in the market on 7 December when it mopped up 0.11 per cent stake, or 67,000 shares, to take its total holding to 14.02 per cent, or 8.1 million shares.

    A TV Today official declined to comment.

    A spurt in buying by Reliance Capital has prompted a sharp rise in the scrip price of TV Today that was hovering around Rs 100 in November. The scrip touched a high of Rs 151.80 on 4 December. 

    After 7 December, the shares of TV Today have started steadily falling from its high price. The scrip ended Wednesday at Rs 122 on the BSE, up 1.5 per cent from the previous day’s close.

    The promoter holding in TV Today is 55.92 per cent, according to data provided by the company till 30 September 2009. 

  • TV Today scrip soars on Reliance Capital offer

    MUMBAI: With TV Today Network shares shooting up, Anil Ambani’s Reliance Capital may find it difficult to attract investors for an open offer as it bids to increase stake in the news broadcasting company.

    The scrip jumped 5 per cent today to close at Rs 147.15 on the BSE, higher than the offer price for 20 per cent stake at Rs 130.50 per share. Reliance Capital, in fact, had set the price seven per cent below TV Today’s Tuesday market closing at Rs 140.2.

    Though the offer would open later from 6-to-25 June, analysts expect the price of TV Today to stay firm. Investors may want to sell now at a higher price or hold on with the hope that the scrip would climb as the offer date opens.

    “The price at Rs 130.50 is seen as too low to attract investors. It is not an aggressive bid and needs to be revised for having any serious selling interest from existing shareholders,” says an analyst at a broking firm.

    Reliance already has 11.93 per cent in TV Today after a recent purchase in the open market. The interest to hike up stake, analysts say, is partly due to the suppressed scrip price of TV Today which runs a clutch of news channels including the Hindi market leader Aaj Tak.

    Reliance would have to pay Rs 1.5 billion for the 20 per cent offer. For a similar stake in rival news broadcasters like NDTV and Global Broadcast News (CNN-IBN), the financial services firm controlled by the Anil Dhirubhai Ambani Group would have had to cough out more.

    Analysts dismiss the possibility of a takeover with the promoters of TV Today controlling 55.69 per cent stake in the company. “Reliance Capital is, perhaps, sending signals that they are interested in the TV company in some form. It could be as financial investors. But if they sense an opportunity, they may move in,” analysts say.

    In an official statement, Reliance Capital has clarified its position. “We have strong confidence in the future prospects and growth potential of TV Today, and wish to increase our stake beyond the threshold of 15 per cent specified under the Securities and Exchange Board of India (SEBI) takeover regulations. For meeting the procedural requirements, we are making an open offer to facilitate the increase in shareholding beyond 15 per cent. This will not result in any change in the management and / or control of TV Today.”

    Reliance Capital has equity in several media and entertainment companies including TV18, NDTV and GBN. It acquired a majority stake in Adlabs Films and Synergy Communications and has expressed interest to grow in this sector.

  • Anil’s Reliance ups stake in TV Today to 11.93 per cent

    MUMBAI: Anil Ambani’s interest in the media sector seems to be growing. Reliance Capital’s subsidiary Sonata Investments has taken its shareholding in TV Today to 11.93 per cent, after buying an additional 1 per cent stake on Monday.

    Sonata bought 583,000 shares in an open market transaction. With this, the company now has 6.9 million shares of TV Today, up from 6.3 million. Earlier on 12 February, the company had purchased 557,000 shares, or 0.96 per cent stake, of TV Today for an estimated Rs 65 million.

    Ambani’s Reliance Capital has also taken an exposure in Global Broadcast News, recently acquiring 6.27 per cent stake for an estimated Rs 870 million.

  • Adlabs Films completes acquisition of Synergy Communications

    Adlabs Films completes acquisition of Synergy Communications

    MUMBAI: Adlabs Films Ltd has completed the process of acquiring a controlling stake in Siddhartha Basu’s TV content company Synergy Communications.

    Indiantelevision.com was the first to report that Adlabs was buying a majority stake in Basu’s company. The new entity will be called Synergy Adlabs Ltd, subject to regulatory approval.
    Basu would continue to lead Synergy Adlabs’ strategy and business operations as chairman and managing director, the company said in a statement.

    In addition to Siddhartha and Anita Kaul Basu, the board would be strengthened by Adlabs Films wholetime director Pooja Shetty, Reliance Capital senior vice president Anil Arjun and Adlabs Films chief financial officer Venkat Devarajan.

    “Synergy Adlabs is envisaged to contribute sizeable revenues to the overall revenue pie of Adlabs Films by March 2008. The intention is to enhance Synergy’s production operations and scale up content to include high-quality popular fiction, youth-based shows, non-fiction content (including reality and lifestyle shows) and international content,” the statement added.

    Synergy Communications has done over 30 televised series and produced over 2000 hours of content. Among the popular shows include Kaun Banega Crorepati, Jhalak Dikkhla Jaa and Mastermind India.

  • TV18 to provide VC funding to convergence companies, earmarks Rs 500 million

    TV18 to provide VC funding to convergence companies, earmarks Rs 500 million

    MUMBAI: Raghav Bahl-promoted Television Eighteen is jumping into the convergence arena. The company plans to invest Rs 500 million in this space, identifying small-sized ventures which need funding support.

    TV18 will function more as a venture capitalist, making investments into these companies at an early stage. “We realise there are opportunities in the convergence area of internet, TV, and broadband. Small companies engaged in this field are springing up. We plan to support them and make judicious investments spread over a string of companies. We have taken an enabling resolution to make investments in this space up to a maximum of Rs 500 million,” says a senior company executive.

    TV18 is setting up a Media Venture Capital Trust (MVCT) through which it will make these investments. The MVCT shall be suitably structured as a tax efficient investment vehicle for undertaking these investments and will offer co-investment opportunities to the promoters of the company and other identified reputed investors.

    The investments will be primarily in high growth companies. “TV18 will seek to invest, directly or indirectly minority stakes in these companies through repayment guaranteed / collateralized instruments convertible into equity, with an option to increase up to majority stake at a later date, wherever possible, subject to necessary provisions and approvals,” the company informed the BSE.

    Outside these investments, TV18 will continue to acquire vertical portals. The company, which has internet ventures being consolidated into a wholly owned subsidiary, acquired in April a 50 per cent stake in the Indian arm of Jobstreet.com. Eariler in the year, it had invested in Yatra Online where other investors included Anil Ambani’s Reliance Capital and Norwest Venture Partners (NVP) – Promod Haque’s leading venture capital firm.