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Tag: restructuring

  • Shemaroo appoints Hiren Gada as CEO in leadership rejig

    Shemaroo appoints Hiren Gada as CEO in leadership rejig

    MUMBAI: Gearing itself for the next phase of growth, Shemaroo Entertainment Ltd (Shemaroo) has restructured its top leadership making several timely appointments. 

    According to a release on the BSE website, the entertainment and content company has elevated Hiren Gada as the chief executive officer (CEO) in addition to his existing role as chief financial officer (CFO).

    Having spent time with various divisions within the company and leading the organisation to scale up and get listed, Gada will now take on the leadership role in addition to his original role as the CFO. In his new role as CEO and CFO, Gada will lead the company through its next phase of growth.

    Shemaroo has also promoted Kranti Gada to the role of chief operating officer (COO) of the company. Kranti Gada was involved in setting up the company’s mobile business and played a key role in the company’s early adoption of digital platforms. More recently she incubated the company’s expansion into the DTH segment. In her new role, Kranti will head the revenue function of the company to drive growth.

    Hiren Gada, who joined Shemaroo 15 years ago, has played a significant role in the transformation of the company from a family-run business to a professionally driven organisation in terms of systems, processes and best industry practices.

    Kranti Gada joined the family business at Shemaroo in 2006 after a successful stint in marketing at Pepsi Co. She helped set up Shemaroo’s mobile business and established the company as a leading mobile VAS player in the country.

    With a clear focus on strengthening the organisation for the next phase of development, Jai Maroo, director of the company, will now move from his current role of guiding the expansion of the digital media business to focus on organisational transformation and excellence.

    Raman Maroo and Atul Maru remain managing director and joint managing director of the company, respectively. The new leadership structure is effective immediately.

    Commenting on the restructuring, Shemaroo managing director Raman Maroo said, “Our endeavour has always been to build a future-ready organisation with distinct professional capabilities while retaining its entrepreneurial culture. We have done that with an emphasis on developing internal talent and marrying that by bringing in great talent from industry peers. We want to create a structure that will power us as we enter our next growth phase.”

  • Disney restructures business in the face of digital disruption

    Disney restructures business in the face of digital disruption

    MUMBAI: Walt Disney Co, on Wednesday, announced a sweeping restructuring aimed at accelerating its global expansion during a period of upheaval for Hollywood.
    The entertainment giant said it would combine its international media business and its content streaming operation into one unit and create another division to house its consumer products business along with Walt Disney Parks and Resorts.

    Its biggest restructuring in recent years, Disney’s move is the latest effort by a legacy entertainment and media company to adapt to rapid changes in consumer behaviour driven by digital technology.

    Disney had been expected to make structural changes as it prepared to launch two streaming services and buy film and TV assets owned by 21st Century Fox—a $52.4 billion deal that requires federal regulatory approval.

    Disney’s new direct-to-consumer and international unit will include the upcoming ESPN+ streaming service, which launches later this year, and a Disney-branded film and TV streaming offering scheduled to debut in 2019.

    The unit also will include video-on-demand service Hulu, in which Disney would own a controlling stake if the Fox deal is approved. Kevin Mayer, who has been Disney’s chief strategy officer since 2015, was named chairman of the new global business.

    The combining of Disney’s parks and resorts business and its consumer products group will help streamline operations for units that already had their share of overlap.
    Bob Chapek, who has headed Disney Parks and Resorts since 2015, was named chairman of the new unit. As its leader, Chapek will assume additional responsibility for all of Disney’s consumer products operations globally, including licensing and Disney stores.

    Disney chairman and chief executive Robert Iger said in a statement that the changes would position the company “for the future, creating a more effective, global framework to serve consumers worldwide, increase growth and maximise shareholder value.”
    In December, with the announcement of the prospective Fox deal, Iger, 67, extended his contract by three years; he is now expected to retire in 2021 when his new pact ends.

    The restructuring plan, which is effective immediately, elevates key lieutenants Mayer and Chapek, who now are poised to work more closely with Iger for the remainder of his tenure.

    Their promotions come amid much speculation about who will be chosen as Iger’s successor.
    Chapek was head of Disney Consumer Products before being tapped to lead the parks group. The 58-year-old executive also previously was president of distribution for Walt Disney Studios.

    The last time Disney restructured its business units was in 2015, when it merged its interactive and consumer products units, a move that was designed to better align once-distant businesses that new technology had brought closer together.

    Two Disney units – media networks and studio entertainment – are remaining the same, save for minor changes, such as the studio’s programme sales operation moving to the direct-to-consumer and international unit.

    Also read:

    Merger talks on the anvil once again for CBS, Viacom

    With Star India, Disney emerges as India’s largest M&E firm

    The year of sex scandals

  • Man Jit Singh, Andy Kaplan to depart Sony Pictures following restructure

    Man Jit Singh, Andy Kaplan to depart Sony Pictures following restructure

    MUMBAI: Two executives who were familiar faces in the Indian television ecosystem–Andy Kaplan and Man Jit Singh–are departing after decades of being with Sony Pictures Television Networks (SPT) and Sony Pictures Entertainment (SPE) in the US. A third executive Sheraton Kalouria, who was SPT president and chief marketing officer, has also been shown the door.

    The exits are a part of a reorganistion of SPE’s television and home entertainment businesses that CEO Tony Vinciquerra  announced through an internal memo.

    Kaplan spent a good 31 years with the company and was president of worldwide networks at Sony Pictures Networks and was one of the key drivers at its India TV network’s success story. Singh was president of Sony Pictures Home Entertainment and was helming the India operations for a good five years before handing them over to current SPN India CEO NP Singh and moving back to the US in 2014.

    The reorganisation has resulted in 18-year-old Sony vet and SPT president – distribution Keith Le Goy getting additional responsibility of home entertainment. He will report to Sony’s Motion Picture Group (MPG) chairman Tom Rothman on the MPG home entertainment business while continuing to have a line to SPT chairman Mike Hopkins on TV distribution.

    Hopkins has also taken on full responsibility of SPT’s network business–consisting of operations in 178 countries with 101 channels and 189 feeds–and all the heads, including NP Singh, will report directly to him.

    Kalouria’s departure has also led to a decentralisation of the marketing function and each team will report to the business unit they support.

    Addressing the company in the memo, Vinciquerra said: “I realise these changes are significant and will be an adjustment for many of you, but they are important in our efforts to strengthen SPE overall and make it more agile in today’s fast-moving environment.”

    Also Read :

    Man Jit Singh likely to continue as IBF president

    Sony Pictures Ent appoints Man Jit Singh president of Sony Pictures Home Ent

  • Ortel to move broadband business to new entity

    Ortel to move broadband business to new entity

    MUMBAI: Multi-system operator Ortel Communications Ltd plans to incorporate a new wholly owned subsidiary, Ortel Broadband Ltd, in order to operate the broadband business separately. 

    In a release to the Bombay Stock Exchange today, Ortel Communications stated that the board of directors had approved the decision. The company will transfer the broadband business to this new entity subject to requisite approvals.

    The restructuring of the business comes on the back of the company facing severe competition in its core market Odisha and a shortfall in collections and repayment of debt.

    Ortel, with its operations focused in Odisha, Chhattisgarh, Andhra Pradesh, Telengana, West Bengal, and Madhya Pradesh, has been a trendsetter in offering customer-centric broadband plans. 

    Taking a big step towards recovery, the company unveiled its new unlimited data plans starting from Rs 99 per month last week.

    Also read:

    Ortel takes on competition with new broadband plans

    Multiple challenges weaken Ortel numbers in second quarter

  • RTL Group restructures top management

    RTL Group restructures top management

    MUMBAI: There’s change at the top at RTL Group–which owns Fremantle Media and operates a clutch of 61 TV channels–including RTL CBS and RTL CBS Extreme–and 30 radio stations in Europe. At his own behest, Guillaume de Posch will step down as co-CEO of RTL Group, effective 1 January 2018. He will continue to serve as a non-executive member of RTL Group’s board.

    Bert Habets, who has been co-CEO of RTL Group since April 2017, will now lead it as the sole CEO, with overall responsibility for the strategy and day-to-day management. He joined RTL in 1999 and became CFO of RTL Nederland in 2001. As CEO of RTL Nederland (2008 to 2017), he transformed the company from a traditional broadcaster into an all-round media and entertainment company.

    Elmar Heggen will remain CFO of RTL Group and will also become the group’s deputy CEO, taking over the portfolio responsibility for Groupe M6 and RTL Belgium within the RTL group’s executive committee.

    Says RTL Group chairman Thomas Rabe: “On behalf of the whole board, I would like to express a big thank you to Guillaume de Posch for his leadership at the helm of RTL Group since 2012. He has been key to transforming it into the most digital European broadcasting company, and to re-invigorating FremantleMedia’s creative drive. High-end drama productions such as The Young Pope and American Gods stand testimony to this achievement. I regret, but fully respect his decision, and I’m delighted he will continue to contribute his expertise across broadcast, content and digital as a non-executive director on our Board.”

    Thomas Rabe continues: “With Bert Habets, RTL Group will be led by a digitally savvy media entrepreneur with an exceptional inhouse career development at RTL Group. He will ensure long-term continuity in the Group’s leadership, and accelerate the execution of its ‘Total Video’ strategy. This strategy includes a strong focus on fostering creativity and building more direct-to-consumer businesses in the video-on-demand domain. I look forward to continuing our close collaboration, and wish him – as well as Elmar Heggen – every success in their positions.”

    Guillaume de Posch, Co-CEO of RTL Group, says: “I had a fantastic time at the helm of RTL Group. Leading this pan-European pioneer – at which I started my career in the TV industry in 1993 – was a dream come true for me. Now is the right time to hand over to Bert Habets, who will drive the group to its next level. I would like to thank all my colleagues across the whole group – and in particular my fellow executive committee members Bert Habets and Elmar Heggen and, of course, Anke Schäferkordt and Thomas Rabe. I’m very much looking forward to becoming a non-executive director of this inspiring company.”

     

  • DreamWorks Animation loses $38.6 million in Q2 due to restructuring

    DreamWorks Animation loses $38.6 million in Q2 due to restructuring

    MUMBAI: Including the impact of the restructuring plan, DreamWorks Animation SKG, Inc reported net loss attributable of $38.6 million, or $0.45 per share for the quarter ended 30 June, 2015. The company’s operating loss stood at $21.8 million.

     

    DreamWorks Animation’s revenues for the quarter ended 30 June, 2015 at $170.8 million, were up 39.7 per cent from the same period in 2014. In addition, the company reported an adjusted operating loss of $1 million and adjusted net loss attributable to DWA of $11.6 million.

     

    Adjusted financial results exclude a $20.9 million pre-tax charge associated with company’s restructuring plan announced in January 2015.

     

    Of the restructuring-related charges totaling $20.9 million or a loss of $2.4 million was due to employee termination and other employee-related costs, $10.9 million was related to accelerated depreciation and amortization charges associated with the closure of its Redwood City facility, and $7.6 million was primarily related to excess staffing and other costs associated with previously announced changes in the feature film slate.

     

    “Our second quarter financial results were solid, highlighted by the theatrical success of Home and the rapid expansion of our Television and New Media businesses. The appetite for premium content across platforms continues to grow both domestically and internationally, and it’s clear DreamWorks Animation is well-positioned to capitalize on the growing demand,” said DreamWorks Animation CEO Jeffrey Katzenberg.

     

    Home, which was released theatrically on 27 March, 2015 has reached $177 million at the US box office and $207 million at the international box office to date. 

     

    Second Quarter Review:

     

    DreamWorks Animation’s second quarter revenues of $170.8 million increased 39.7 per cent versus the prior-year period primarily driven by the performance of the feature film, television series and specials and new media segments.

     

    Television Segment

     

    Revenues for the quarter ended 30 June, 2015 from the Television series and specials segment increased to $54.5 million, compared to $20 million during the prior-year period. The increase in revenues was attributable to a significantly higher number of episodes delivered under episodic content licensing arrangements.

     

    Segment gross profit increased to $19.2 million in the current quarter, from $1.2 million in the same period of the prior year. The increase was primarily driven by favorable amortization rates associated with episodic series, partially offset by higher up-front marketing costs associated with the release of its new television series.

     

    In addition, for the three months ended 30 June, 2014 segment gross profit was negatively impacted by higher than expected returns of seasonal and newly-released home entertainment product, as well as increased selling costs, related to the company’s Classic Media properties.

     

    Film Segment

     

    Revenues for the quarter ended 30 June, 2015 from the Feature Film segment increased to $87.8 million, up from $69.7 million in the prior-year period. Segment gross profit also increased to $31.7 million compared to $23.9 million in the same period last year.

     

    In the quarter, Home contributed revenue of $23.9 million, The Penguins of Madagascar contributed $8.3 million, How to Train Your Dragon 2 contributed $17.9 million, Mr. Peabody and Sherman contributed $8.4 million and Turbo contributed $1 million.

     

    Library titles contributed feature film revenue of $28.3 million to the quarter.

     

    Consumer Products Segment

     

    Revenues from the Consumer Products segment decreased to $12.7 million in the second quarter, compared to $18.5 million in the same period last year. The prior year period benefitted from merchandise and licensing revenue associated with How to Train Your Dragon 2, which was released theatrically in June 2014. Segment revenues in the current quarter were primarily generated by licensing arrangements related to a variety of intellectual property rights associated with the characters from films.

     

    Segment gross profit decreased to $1.8 million from $7.3 million in the prior year period, largely due to higher costs incurred across a variety of segment activities.

     

    New Media Segment

     

    Revenues for the quarter ended 30 June, 2015 from the company’s New Media segment were $14.6 million compared to $11.5 million during the three months ended 30 June, 2014. This increase was primarily attributable to revenue generated under new licensing agreements and the delivery of newly-created content versus the prior-year period.

     

    Segment gross profit increased to $7.5 million from $2.5 million in the prior-year period, primarily due to higher revenue contributions from newly licensed content. 

  • Mindshare restructures South Asia leadership

    Mindshare restructures South Asia leadership

    MUMBAI: As part of its ongoing commitment to delivering adaptive planning and thinking, for clients and dynamic markets, Mindshare APAC has realigned its senior leadership in South Asia.

     

    Mindshare APAC chief client officer MA Parthasarathy has been named chief product officer for South Asia. In his new role, Parthasarathy will lead a community of communications strategy and analytics across ten Mindshare offices in South Asia.

     

    Ruchir Mathur, currently principal partner on the PepsiCo business has been appointed as leader for client leadership. Mathur will spearhead a range of ground-breaking activity with an experience of over ten years with Mindshare.

     

    Saket Sinha returns to the Mindshare family as principal partner leading rodeos and the east zone. In his previous role, Sinha was championing business in new geographies for GroupM, creating expansions for the network in several new markets.

     

    Sinha will report to Mathur and Mindshare South Asia CEO Prasanth Kumar for the east zone. Parthasarathy and Mathur will report into Kumar directly.

     

    Commenting on the re-alignment, Kumar said, “As pioneers in adaptive marketing, we are focused on creating a team that continues to open up more possibilities and set ourselves apart, with the capability to merge strategy with market intelligence. As we advise our clients to change mindsets that reflect in the communication they partake in, so does our commitment strengthen to ensure our best talent to service the brands we work with. Parthasarathy, Ruchi and Saket have always been an integral part of the Mindshare family. Each one of them brings their expertise to the table and I am confident that they will continue to take Mindshare to greater heights.”

  • ESPN US to focus more on content, technology, intl business with restructuring

    ESPN US to focus more on content, technology, intl business with restructuring

    MUMBAI: ESPN US and ABC Sports president George Bodenheimer has announced the reorganisation of ESPN’s business functions and executive management into six specific areas.

    The aim is to pursue the company’s primary mission to serve sports fans and for future growth in the areas of content, technology, sales and marketing, the international arena, finance and administration.

    The executive management team reporting to Bodenheimer includes John Skipper, who has been promoted to executive VP content; Chuck Pagano whos is now executive VP technology; Sean Bratches who is executive VP sales and marketing. Christine Driessen continues to serve as ESPN executive VP and CFO. Ed Durso contnues to be ESPN executive VP, administration; and Russell Wolff stays in his position as ESPN Intl executive VP and MD.

    Bodenheimer says, “Changes in our management ranks presented an opportunity to redefine our structure. Aggregating all our creative energies in one division; placing all sales and marketing in one area to sell our growing menu of services; consolidating oversight of all technology; and affirming the centralised management of all international businesses are powerful statements. I am excited about the prospects of this realignment and the people leading these areas. Not only does this reaffirm ESPN as the leading sports media entity, it will strengthen our commitment to serving sports fans.”

    Skipper will now oversee content in all its forms for all ESPN and ABC Sports television, radio, Internet, publishing, wireless, broadband and Enterprises operations. Skipper joined ESPN in June 1997 after several years in the publishing business, including the Disney Publishing Group, which he joined in 1990. He oversaw one of the most successful magazine launches, ESPN The Magazine in March 1998.

    Wolff, along with the support of Driessen, has led initiatives around the world increasing the financial success of ESPN’s international operations. Wolff, who joined ESPN in 1997 managing ESPN’s business interests in the Pacific Rim, is responsible for all of ESPN’s international business initiatives across television, radio, publishing, wireless, broadband, and ESPN Enterprises operations.

  • Zee Kannada restructures management and teams

    Zee Kannada restructures management and teams

    MUMBAI: With an aim to improve its position in the south Indian market, Zee Entertainment Enterprises (Zeel)  has decided to go in for a restructuring process to ensure better quality on its channel Zee Kannada. In line, a few changes have been made.

     

    Two months ago, the then Zee Kannada business head Gautham Machaiah decided to leave Zeel. His replacement was south cluster sales head Siju Prabhakaran who was elevated to look after the channel too. A new programming head Raghavendra Hunsur was hired from ETV Kannada. The mandate was to spruce up the channel’s shows and ratings.

     

    Sources say that nearly 15 people from the production, programming and operation teams have since been asked to tender their resignations and have been offered a three month severance package. This includes professionals at both head of department level and the second level. They are being replaced with many more professionals who are being handpicked by Hunsur.

     

    Says Zeel head of human resources Rajendra Mehta “Ours being the business of people, we are careful in aligning the organization aspirations with individual capabilities and talents. Therefore, we have taken such an exercise and brought in talent from across the industry and revamped the team. We are sure it will result in building the Kannada business from here on. We remain committed to improving the business performance with realigning to strengthen channel TVMs and marketshare.”

     

    The channel is looking at revamping its look and feel by improving its overall packaging and layout. Also planned are big ticket nonfiction shows in the coming months.

     

    Zee Kannada has been at the number four position in the market with Udaya TV, ETV Kannada and Asianet Suvarna occupying the top three slots.

  • Turner International hires Ricky Ow as Marcopoto’s replacement

    Turner International hires Ricky Ow as Marcopoto’s replacement

    MUMBAI: Turner International’s Turner Broadcasting System Asia Pacific has been beset with some bad news or the other emerging from it over the past couple of years. Restructuring, layoffs and the sudden stepping down of its long serving boss Steve Marcopoto earlier this year all caught the headlines.

     

    A hunt for his successor was on, the company had stated at the time of Marcopoto’s announcement.

     

    The good news now is that the company has announced his replacement. And it is international television executive Ricky Ow who will be joining Turner International as President of Turner Broadcasting System Asia Pacific effective January 2014. The announcement was made by Gerhard Zeiler, President of Turner Broadcasting System International.

     

    Most recently Executive Vice President & General Manager for Sony Pictures Television (SPT) Networks Asia, Ow will lead Turner International’s portfolio in the Asia Pacific region, based in Hong Kong.

     

    As President of Turner APAC, Ow will have executive oversight for all entertainment and kids networks, the digital and media services offered, the distribution of CNN’s services in that region, and all licensing and merchandising activity in APAC.

     

    “We are delighted that Ricky is joining us and look forward to the leadership and wealth of international media experience he will bring to one of the most strategically important areas of Turner International,” said Zeiler in a press release. He continued: “His vast experience in the region, his successes in launching and establishing channel brands both locally and regionally, his experience in local content production, as well as his deep understanding of sales and marketing, make him the ideal choice to lead our business in the Asia Pacific region into the next stage of growth. Looking with fresh eyes at our business as a true leader, he will be a strong addition to Turner International. We all look forward to working with him to extend our core brands and build international scale.”

     

    “I am very excited to join Turner and it is an honour to work with Gerhard and the team that has built some of the most valuable media brands in the world including CNN, TNT, Cartoon Network, Pogo and Turner Classic Movies,” said Ow. “This is an opportunity to leverage on our incredible heritage of creativity and innovation to grow a dynamic portfolio of iconic brands, to develop new ventures and to strengthen relevance and value for our viewers, partners and the business community.”

     

    Ow joins Turner after a 14-year career at Sony Pictures, most recently as Executive Vice President & General Manager for Sony Pictures Television (SPT) Networks Asia. In that role, Ow was responsible for overseeing the networks business across Asia as well as developing new channel opportunities in the region. He also had oversight of SPT’s two Korean joint ventures, AXN Korea and Animax Korea. Prior, Ow was the Senior Vice President & General Manager, Networks Asia, overseeing the company’s channel brands, including AXN India and Animax India. He joined SPT in 1999 as Head of Sales and Marketing. Under his leadership, AXN became the leading English language general entertainment channel in Asia while SPT Networks Asia grew into a bouquet of entertainment brands including “One”, the leading Asian language channel in Southeast Asia. Additionally, Ow has led SPT’s networks in Asia to pioneer various award-winning pan-regional entertainment productions. Prior to joining SPT, Ow held positions at SBC Enterprises (now Mediacorp TV), Asia Business News, and CNBC.