ITV

Tag: subsidiary

  • Reliance Industries: a subsidiary change

    Reliance Industries: a subsidiary change

    MUMBAI: Network18 Media & Investments informed the Bombay stock exchange on the evening of 31 December that Viacom18 India had ceased to be its subsidiary on 30 December and become a direct offshoot of Reliance Industries Ltd (RIL).

    This, it said,  happened when RIL converted 24,61,33,682 compulsorily convertible preference shares (CCPS) held by it in Viacom18 into 24,61,33,682 equity shares. Post this conversion, RIL’s equity holding in Viacom18 went up to 83.88 per cent and 70.49 per cent on a fully diluted basis. Network18 ended up with 16.12 per cent of Viacom18’s  total equity share capital and 13.54 per cent on a fully diluted basis. On 14 November, RIL had informed  the exchange that its stake in Viacom18 was at 70.49 pr cent on a fully diluted basis following its acquisition of Paramount’s 13.01 per cent stake (on a fully diluted basis) in it for Rs 4,286 crore. 

    AS per the BSE regulatory filing, Viacom18 was a material subsidiary of Network18 with nil turnover and a net worth of Rs 26,928.17 crore (representing 90.39 per cent, of the annual consolidated net worth of  Network18) for the financial year 2023-24.

    Network18    received     intimation     from     Viacom18     on 30 December at 7:46 p.m. regarding the allotment of equity shares to RIL pursuant to conversion of CCPS.

    The shareholders of Network18 had earlier approved this change of ownership.

    With this transition, Viacom18 will now operate under RIL control.

  • Zee sets up Kenyan broadcasting subsidiary

    Zee sets up Kenyan broadcasting subsidiary

    Mumbai: Even as Zee Entertainment Enterprises led by Subhash Chandra is streamlining businesses by laying off high cost senior management, it is also expanding its footprint international.

    Last week, the media major informed the Bombay stock exchange that it was setting up a step down subsidiary for its UK outfit in Kenya.

    Styled as Zee Media Kenya Ltd (ZMKL), it has been set up to launch free to air channels in in Kenya and east Africa.

    Zee Entertainment UK Ltd (ZeeUL) is investing 1000 Kenyan schillings in its equity with a price of 100 KES per share. ZMKL has received clearance from the Kenyan registrar of companies for its incorporation.

  • TradeSmart – arm of VNS Finance appoints Rohit Onkar as Chief Growth Officer

    TradeSmart – arm of VNS Finance appoints Rohit Onkar as Chief Growth Officer

    MUMBAI: TradeSmart discount broking space announced the appointment of Rohit Onkar as its Chief Growth Officer. With over a decade of trailblasing experience in digital business landscapes, Rohit brings a drive for transformative growth strategies.

    Rohit is a luminary in the realm of digital marketing, boasting more than 12 years dedicated to architecting and nurturing digital enterprises. His illustrious career showcases crafting growth engines that propel customer acquisition and pioneering retention strategies that optimise customer lifetime value.

    “As a seasoned Digital First marketing leader, I’ve always seen growth as more than numbers; it’s about sustainable innovation,” Rohit emphasises. He is renowned for driving businesses from steady ground to exponential growth, having orchestrated impressive transitions from 1X to 10X in his previous endeavours. At TradeSmart, his visionary goal is to elevate the company from its current thriving 10X status to an extraordinary 100X growth trajectory.

    Prior to TradeSmart, Rohit wielded his strategic acumen to businesses, transforming small enterprises into profitable powerhouses. “My philosophy is clear: Growth should be profitable and sustainable,” Rohit affirms. His leadership ethos revolves around crafting innovative solutions to acquire and retain customers, anchored in a profound understanding of the dynamic digital marketing landscape.

    Prior to taking up this role, Rohit set up the digital marketing centre of excellence at Loylty Rewardz, India’s loyalty management company which is now a part of the BillDesk Group. He also led the brand launch of Rupay Cards and UPI during his association with NPCI.

    Rohit’s passion for steering business growth through digital channels. He is not just a leader; also an active investor and advisor, channelling his expertise to catalyse revenue multiplication across various companies.

    “I’m honoured to spearhead TradeSmart’s monumental growth journey,” Rohit expresses. “Together, we’ll transcend boundaries, driving innovation, and setting new benchmarks in the digital marketplace.”

    Rohit Onkar, an alumnus of IIM Calcutta, brings a wealth of knowledge and a proven track record to TradeSmart. His strategic vision and commitment to sustainable growth make him an invaluable asset. TradeSmart is a venture of the larger organisation, VNS finance and embodies the same principles of trust and transparency within itself.

    Established in 1994, VNS is one of the stock, commodities and currency broking companies in India.

  • Shemaroo board approves incorporation of US subsidiary

    Shemaroo board approves incorporation of US subsidiary

    MUMBAI: Shemaroo Entertainment Ltd’s (Shemaroo) board of directors, at its meeting today, gave the green light to invest in a company to be incorporated as a wholly owned subsidiary in America’s New Jersey.

    According to Shemaroo’s release to the BSE, the new entity is likely to be called Shemaroo Media & Entertainment Inc. The company will work in the media and entertainment industry and have a paid-up share capital of USD 50,000. 

    Gearing itself for the next phase of growth, Shemaroo restructured its top leadership last month. The entertainment and content company elevated Hiren Gada as the chief executive officer (CEO) in addition to his existing role as chief financial officer (CFO). The company also promoted Kranti Gada to the role of chief operating officer (COO).

    Having spent time with various divisions within Shemaroo and leading the organisation to scale up and get listed, Gada took on the leadership role in addition to his role as the CFO.

    Also Read:

    Rahul Mishra Shemaroo’s new general manager marketing

    Shemaroo’s third quarter numbers improve, digital revenue increases

  • India Today Online is TVTN’s wholly-owned subsidiary now

    MUMBAI: India Today Online Private Limited (ITOPL) has now become a wholly-owned subsidiary of TV Today Network Ltd.

    India Today Online, on 28 March 2017, issued and allotted 1,99,20,000 equity shares of Rs. 10 each to Living Media India Limited (LMIL) which constitutes 21.01% of the paid-up share capital of ITOPL, against the loans and advances made by LMIL to ITOPL.

    T.V. Today Network (TVTN) entered into an agreement to gift with LMIL on the same date, i.e. 28 March, 2017, under which the TVTN will acquire 1,99,20,000 equity shares of ITOPL of Rs. 10 each (representing 21.01 per cent of the paid-up share capital of ITOPL) from LMIL by way of gift upon completion of procedural requirements under the agreement to gift.

    After the aforesaid acquisition, TVTN will hold 100 per cent of the issued and paid-up share capital of ITOPL.

    In a separate earlier report, TV Today Network stated that it shall not undertake the agreement, entered into with Entertainment Network (India) Limited, to sell three Metro FM Radio stations, as was earlier approved by the board. TV Today had inked a deal to sell seven Oye FM radio stations to ENIL which operates Radio Mirchi. However, MIB did not approve sale of three stations and the matter went before the Delhi High Court. Such sale agreement was subject to the approval of the MIB or an order from the Delhi High Court allowing the sale of Metro Radio stations whichever is earlier.

    Also Read:

    Q2-17: TV Today Network topline up

    ENIL revenue up in third quarter of 2017

  • Netflix strikes movie deal with Weinstein

    Netflix strikes movie deal with Weinstein

    MUMBAI: In a drive to add subscribers, Netflix has expanded on a movie licensing deal with The Weinstein Co. that will add more films to its internet video service beginning in 2016.

     

    The multi-year agreement announced builds upon a partnership that Netflix forged with Weinstein last year. That deal gave it the streaming rights to the Oscar-winning film, The Artist, as well other foreign films and documentaries from the eight-year-old studio.

     

    The new deal gives Netflix the rights to show all movies released by Weinstein and its subsidiary, Dimension Films, before they appear on pay-TV channels. That makes it more competitive with channels like HBO and Showtime that have traditionally been the first place to see films after their theatrical runs.

     

    Netflix’s exclusive arrangement with Weinstein begins with films released in theaters during 2016. That’s around the same time Netflix will begin showing films for the first time outside a movie theater from The Walt Disney, part of an agreement announced last year.

     

    Financial terms of the latest Weinstein deal weren’t disclosed.