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Tag: Times Global Broadcasting

  • TDSAT stays disconnection notice against DishTV till next month

    TDSAT stays disconnection notice against DishTV till next month

    NEW DELHI: Times Global Broadcasting Co Ltd has been restrained by the Telecom Disputes Settlement and Appellate Tribunal to implement its disconnection order against Dish TV India.

    Listing the matter for 1 August, member B B Srivastava asked Times Global to file its reply within four weeks to the matter which was admitted on 22 June 2016 and also asked Dish TV to file its rejoinder if any within two weeksthereafter.

    The Tribunal said any equitable arrangement about the relationship between the parties would be decided on the basis of the pleadings.

    Dish TV had challenged the disconnection notice for non-payment of alleges dues of approximately Rs 8 crore on two grounds.

    The first was that even after expiry of the agreements, the parties continued with the earlier arrangement under which Times Global owed more money to Dish TV for carriage than the amount it had to receive towards subscription.

    Secondly, it was alleged that the RIO offered by Times Global was discriminatory.

  • TDSAT stays disconnection notice against DishTV till next month

    TDSAT stays disconnection notice against DishTV till next month

    NEW DELHI: Times Global Broadcasting Co Ltd has been restrained by the Telecom Disputes Settlement and Appellate Tribunal to implement its disconnection order against Dish TV India.

    Listing the matter for 1 August, member B B Srivastava asked Times Global to file its reply within four weeks to the matter which was admitted on 22 June 2016 and also asked Dish TV to file its rejoinder if any within two weeksthereafter.

    The Tribunal said any equitable arrangement about the relationship between the parties would be decided on the basis of the pleadings.

    Dish TV had challenged the disconnection notice for non-payment of alleges dues of approximately Rs 8 crore on two grounds.

    The first was that even after expiry of the agreements, the parties continued with the earlier arrangement under which Times Global owed more money to Dish TV for carriage than the amount it had to receive towards subscription.

    Secondly, it was alleged that the RIO offered by Times Global was discriminatory.

  • No relief for Times Now in defamation case

    No relief for Times Now in defamation case

    MUMBAI: In what can be termed as a setback to the English news channel Times Now, the Supreme Court has refused to give any relief in the defamation case filed by retired SC judge PB Sawant.

    Earlier, Bombay High Court had ordered Times Global Broadcasting, which runs Times Now, to deposit Rs 200 million in cash along with a bank guarantee of Rs 800 million, before its appeal against a Pune
    trial court ruling that directed the channel to pay Rs 1 billion in damages for defaming Sawant could be heard.

    The channel had erroneously ran Sawant’s photograph during the reportage of provident fund scam in September 2008. Apparently, justice Sawant had nothing to do with the scandal exposed by a
    treasury officer, Ashthana.
       
    Later, justice Sawant sued the channel saying it telecast his photograph for 15 seconds along with the provident fund scam report on 10 September 2008.

    The Pune court ordered the channel to pay the hefty sum as damages, but the channel moved the High Court. However, the HC directed the channel to deposit the amount of damages so that its appeal could be heard.

    Rejecting the company’s appeal against the HC order, a bench headed by Justice GS Singhvi said on Friday there was no error in the HC order. “We find no reason to interfere with the HC’s order,” it said.

    In its defence, the TV channel asserted that it had already apologised to Justice Sawant in its news scroll for five days in 2008 and was, therefore, not liable to pay damages.

    When contacted, Times Television Network MD and CEO Sunil Lulla declined to comment.

  • Times Global Broadcasting plans to raise $50 mn via stake sale

    Times Global Broadcasting plans to raise $50 mn via stake sale

    MUMBAI: Times Global Broadcasting Corporation Ltd, which is readying to launch business news channel ET Now, is on the hunt for an investor to raise close to $50 million (Rs 2.5 billion).

    The company is looking at a dilution of 25-26 per cent equity and has mandated UBS Securities India to help in this pursuit, sources say. When TGBCL launched the English general news channel, it had roped in Reuters as a strategic partner with a 26 per cent holding.

    The valuation at around $200 million (Rs 10 billin) seems to be steep at a time when the market cap of media companies has contracted in the wake of a global financial turmoil.

    When contacted, both Times Global Broadcasting CEO Chintamani Rao and UBS Securities declined to comment.

    TGBCL has suffered a net loss of Rs 720 million on a revenue of Rs 643.2 million for FY’08, according to a presentation made to potential investors. The estimated loss for FY’09 is Rs 1.15 billion on a turnover of Rs 931.2 million.

    The company recently signed an agreement with Reuters to source financial and business content for ET Now. Last year, Reuters divested its 26 per cent stake in Times Global Broadcasting.

  • Times Now business channel sibling to launch in 2008 2nd half

    Times Now business channel sibling to launch in 2008 2nd half

    MUMBAI: After rolling out English news channels, it has been a trend for broadcasters to follow it up with a business channel. Joining the bandwagon is Times Global Broadcasting.

    After tasting success with its English news channel Times Now, Times Global Broadcasting has firmed up plans for a business news channel. The English language business news channel is expected to beam some time in the second half of the year.

    Confirming the plans for a business news channel, Times Global Broadcasting CEO Sunil Lulla says, “Times Global Broadcasting will be rolling out its business channel in the second half of the year. We are working out the logistics.”

    However, when asked if Reuters Service will have a stake in the upcoming business channel, Lulla refused to divulge anything more.