ITV

Tag: takeover

  • Hathway back in black in Q3 2019

    Hathway back in black in Q3 2019

    BENGALURU: Broadband internet services provider Hathway Cable & Datacom Limited reported a standalone profit after tax and standalone net comprehensive income of Rs 6.44 crore and Rs 6.27 crore respectively for the quarter ended 31 December 2018 (Q3-2019, quarter or period under review). The company had reported a loss of Rs 5.90 crore in the previous quarter (Q2-2019) due to higher other expenses and foreign exchange loss. In Q3-2019, Hathway has reported a foreign exchange gain of Rs 3.07 crore as compared to a forex gain of Rs 4.32 crore in Q3 2018 and a forex loss of Rs 7.21 crore in Q2 2019.

    Hathway’s standalone operational revenue for the period under review declined 2.7 per cent y-o-y to Rs 134.85 crore from Rs 138.65 crore, but was 3.3 per cent higher q-o-q than the Rs 130.55 crore in Q2-2019. Standalone total income in Q3-2019 was slightly lower y-o-y (lower by 0.8 per cent) at Rs 143.41 crore as compared to Rs 144.57 crore in Q3 2018. Though the company’s standalone operating profit EBITDA) for Q3 2019 declined 14.6 per cent y-o-y  to Rs 51.30 crore (38 per cent of operating revenue) from Rs 60.06 crore (43.3 per cent of operating revenue), it increased 10.1 per cent q-o-q from Rs 46.58 crore (35.7 per cent of operating revenue).

    Let us look at the other numbers reported by Hathway

    Standalone total expenditure in Q3 2019 was Rs 139.67 crore or 101.6 per cent of operational revenue as compared to Rs 120.70 crore or 87.1 per cent of operational revenue in Q3 2018 and Rs 144.08 crore or 110.4 per cent of total income in Q2 2019. Standalone operating expenses in Q3 2019 was 0.6 per cent higher y-o-y at Rs 33.27 crore as compared to Rs 33.06 crore and was 7 per cent higher q-o-q than Rs 31.10 crore. 

    Standalone employee benefits expense for the quarter was 19.6 per cent higher y-o-y at Rs 13.55 crore as compared to Rs 11.33 crore and was 20.0 per cent higher q-0-q than Rs 11.29 crore. Standalone finance costs in Q3 2019 at Rs 20.57 crore were 17.3 per cent higher y-o-y than Rs 17.54 crore but were 36.2 per cent lower q-o-q than Rs 32.22 crore. Other expenses at in Q3 2019 at Rs 36.73 crore were 7.4 per cent higher y-o-y than Rs 34.20 crore, but were 11.7 per cent lower q-o-q than the Rs 41.48 crores.

    Takeover by Jio

    Two days ago, Hathway had informed the Stock Exchange – “Further to our intimations dated 17 October 2018 and 14 November 2018 with respect to boards' and shareholders' approval for raising of funds up to Rs 2940,00,03,500 (Rupees two thousand nine hundred and forty crores three thousand and five hundred only) through preferential allotment to Jio Content Distribution Holdings Pvt Ltd, Jio Internet Distribution Holdings Pvt Ltd and Jio Cable and Broadband Holdings Pvt Ltd (the "Proposed Investors"), please be informed that the proposed investors have received the approval from the Competition Commission of India on January 21 2019.”

    Hathway had also submitted a copy of the Letter of Offer dated 21 January 2019 to the Stock exchanges.

  • Comcast topples Murdoch’s offer for Sky with $31 bn bid

    Comcast topples Murdoch’s offer for Sky with $31 bn bid

    MUMBAI: The big-name mergers are getting bigger in value with Comcast dropping a bomb that it is ready to pay $31 billion to takeover Sky. Its offer was 16 per cent higher than that of rival 21st Century Fox that had wanted to acquire 61 per cent in Sky.

    “We think Sky is an outstanding company. It has 23 million customers and leading positions in the UK, Italy and Germany. Sky has been a consistent innovator in its use of technology to deliver a fantastic viewing experience and has a proud record of investment in news and programming. It has great people and a very strong and capable management team,” said Comcast Corporation chairman and CEO Brian L Roberts.

    The acquisition will help Comcast for better distribution and technology leadership and expand its international reach to new territories.It believes that together they can create compelling opportunities for growth and innovation.

    Sky’s company secretary Chris Taylor noted that the company had got an offer from Comcast. It called it a ‘possible offer’ and because there was nothing firm, it will make an announcement later.

    Comcast said it will pay all cash for the deal to get a firm hold on the huge UK pay TV market. Fox said that it stays committed to the offer it previously made.

    Last year Comcast bet $60 billion to buy Fox, ultimately losing to Disney.

    Sky reaches 23 million homes in Britain, Ireland, Germany, Italy and Austria.

    Also Read :

    Now, Comcast in talks to buy 21st Century Fox

    Murdoch pledges funding to Sky News

    Comcast may renew bid for 21st CF

  • Dish TV terms Videocon d2h acquisition plans speculative

    Dish TV terms Videocon d2h acquisition plans speculative

    MUMBAI: Leading Indian DTH operator, DishTV, has rubbished news reports that it was acquiring or it is in talks to acquire India’s fastest growing DTH operator Videocon d2H. It has issued a press statement and a release to the Bombay stock exchange which says: “This is in reference to the news relating to the proposed acquisition of Videocon D2H by Dish TV appearing in certain sections of media. The news is speculative in nature and as a Policy, Dish TV does not comment on market speculations and rumours.”

    An article on moneycontrol.com, owned by the Network18 group, had stated that Dish TV India was in the running to take over Videocon d2H. According to moneycontrol, the latter had put up a bid price which valued itself at around $1 billion. Dish TV’s offer price was lower, and it was trying to bring d2H’s bid down. Said the report: “The two companies are negotiating on valuations close to $ 1 billion. This is because Videocon’s ask price is currently higher than what Dish TV has offered. Nasdaq-listed Videocon d2H has a market capitalisation of of USD 855 million and has a net debt of Rs 1600 crore. The losses that the company had last fiscal year stood at Rs 92.2 crore.”

    The article had further claimed that: “Even the lenders have suggested that sale of Videocon d2H to Dish TV is likely.”

    This had been supported by other news reports which had explained that lenders – banks and financial institutions – to the Vengopal Dhoot promoted Videocon group were allegedly forcing it to offload assets as it is too heavily leveraged. The reports had stated that the much diversified group which began in electronics but today was involved in oil and gas had taken on a debt pile that it was finding difficult to service. Hence, it was exploring several options to pare its loans by finding buyers for assets like its oil and gas operations or its direct to home television businesses, the reports had claimed.

    But with DishTV pooh-poohing that it was amongst the suitors for Videocon d2H, at least speculation about one of the alleged transactions has been put to rest.

  • Dish TV terms Videocon d2h acquisition plans speculative

    Dish TV terms Videocon d2h acquisition plans speculative

    MUMBAI: Leading Indian DTH operator, DishTV, has rubbished news reports that it was acquiring or it is in talks to acquire India’s fastest growing DTH operator Videocon d2H. It has issued a press statement and a release to the Bombay stock exchange which says: “This is in reference to the news relating to the proposed acquisition of Videocon D2H by Dish TV appearing in certain sections of media. The news is speculative in nature and as a Policy, Dish TV does not comment on market speculations and rumours.”

    An article on moneycontrol.com, owned by the Network18 group, had stated that Dish TV India was in the running to take over Videocon d2H. According to moneycontrol, the latter had put up a bid price which valued itself at around $1 billion. Dish TV’s offer price was lower, and it was trying to bring d2H’s bid down. Said the report: “The two companies are negotiating on valuations close to $ 1 billion. This is because Videocon’s ask price is currently higher than what Dish TV has offered. Nasdaq-listed Videocon d2H has a market capitalisation of of USD 855 million and has a net debt of Rs 1600 crore. The losses that the company had last fiscal year stood at Rs 92.2 crore.”

    The article had further claimed that: “Even the lenders have suggested that sale of Videocon d2H to Dish TV is likely.”

    This had been supported by other news reports which had explained that lenders – banks and financial institutions – to the Vengopal Dhoot promoted Videocon group were allegedly forcing it to offload assets as it is too heavily leveraged. The reports had stated that the much diversified group which began in electronics but today was involved in oil and gas had taken on a debt pile that it was finding difficult to service. Hence, it was exploring several options to pare its loans by finding buyers for assets like its oil and gas operations or its direct to home television businesses, the reports had claimed.

    But with DishTV pooh-poohing that it was amongst the suitors for Videocon d2H, at least speculation about one of the alleged transactions has been put to rest.

  • “There is no creativity or innovation in the Marathi news channels’ space:” Nikhil Wagle

    “There is no creativity or innovation in the Marathi news channels’ space:” Nikhil Wagle

    At the age of 19 he became the editor-in-chief of a regional daily and today has journalism experience of more than 35 years. Besides being on top of each and every beat, he was keenly focused on investigative journalism. 

     

    In August 2004, he became a victim of aggressive Shiv Sena supporters who were irked by his belligerence and brave journalism. He is the inspiration for many igniting minds who are keen to peruse a career in journalism; he is none other than veteran Marathi pressman Nikhil Wagle.

     

    Speaking exclusively to Indiantelevision.com’s Sagar Shere, Wagle shares his vision on the Marathi news space, where he feels there is huge room for creative experimentation.

     

    Excerpts:

     

    How has your stint with Mi Marathi been so far? What was the reason behind choosing the channel when you switched from IBN Lokmat?

     

    It’s just been nine months since I joined Mi Marathi and I am not working full time here. I only do one show for them which is Point Blank. The reason behind switching from IBN Lokmat was that the entire IBN network was taken over by Mukesh Ambani. We had conflicts on policies and ideology with them. We worked under Rajdeep Sardesai as a team and resigned because we thought Ambani will not give us the freedom to work as a journalist. 

     

    I liked the policies of Mi Marathi and their ideation behind news so I thought of coming to Mi Marathi. 

     

    There has been a drastic growth in the Marathi news channel space. What do you think is the pulling point for audiences and what does the Marathi news channel genre needs to work on to get in more viewers?

     

    Marathi news channel is growing and it was always better than Hindi news channel on the basis of content. When IBN Lokmat and ABP Mazha were newly born, they infused young blood and were ready to experiment. However now they seem to have faced a setback. These days Marathi news channels have started following a set pattern for everything, be it for news gathering, news visualizing, programming or debate. There is no innovation in Marathi news space. 

     

    From your perspective, what are the changes that you have seen over the years in the genre? In terms of approach for news, do you think there is a different strategy that Marathi channels are adopting now? 

     

    We need more creativity, more ideas and more experimentation in Marathi news channels. We should infuse young blood so that we can experiment and create good content. We need to concentrate on investigative journalism. These days all news channels thrive on byte journalism and feature programmes. However the need of the hour is investigative journalism. Over the past seven years, news channels have turned stale. We need fresh outlook. Moreover, new perceptions and innovation is always accepted by the audience. 

     

    Do you think there is scope for more news channels in the Marathi space?

     

    There is ample scope for Marathi news channels because IBM Lokmat has gone down in TRP and advertising. There was competition between IBN Lokmat, ABP Mazha and Zee 24tass. However, over the last one year there is no competition between these news channels. Also there is no quality news gathering, quality of format and quality programmes.

     

    If there is no competition you lose the passion and that is what has happened with Marathi news channels. At this point in time, if someone tries to break the format and comes up with something new, it will be great and viewers will definitely like it.

     

    What is the target group for regional news channels?

     

    Target audience for Marathi regional channels are all Marathi speaking audiences. They cater to middle class, higher middle class, rural and urban audience. Everyone has a different taste and a news channel should look after all its target audiences but sometimes you don’t need to look for a TG because some stories are important for the nation news wise and at that time you don’t look for TG. Stories like farmers’ suicide, terrorist attacks and natural calamities are serious issues and you can’t look at the TG before showcasing them.

  • Reliance brings with it the zest to win, says Sudhanshu Vats

    Reliance brings with it the zest to win, says Sudhanshu Vats

    MUMBAI: On 29 May 2014, Reliance Industries Limited (RIL) had announced that it would spend Rs 4,000 crore to take complete control of Network18, the company which Raghav Bahl founded in 1993.

     

    The takeover labeled as the biggest takeovers in India’s media industry, followed the announcement with an open offer to the public.

     

    Since then, not much has been spoken about the management changes, cultural changes in the companies or the working.

     

    So, when indiantelevision.com met Viacom18 group CEO Sudhanshu Vats, we couldn’t help but ask.

     

    Answering the obvious question of has there been any management changes post the takeover of Network 18 by Reliance, Vats says, “No, there have been no changes at Viacom18. The same management team continues to drive Viacom18.”

     

    Vats goes on to add that Reliance is a very large and successful company. It believes in scale and has strong leading position in all the business segments in which it operates. “The good news from our point of view is that we now have two industry giants – Reliance and Viacom as partners. Reliance brings with it scale, resources and the zest to win. Those are good traits for us to gain new heights in the media sector,” he emphasises

     

    For the record, Network18 owns news TV channels (including CNBC-TV18, CNN-IBN, CNBC Awaaz etc), websites (firstpost.com, moneycontrol.com), magazines (including the license for Forbes India), entertainment channels (including Colors, MTV and Homeshop18) among other businesses. And Viacom18 founded in November 2007 is a 50:50 joint venture operation in India between Viacom and the Network 18’s subsidiary TV18, based in Mumbai.