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Tag: Times of India Group

  • Banglore ad club ‘international’ Big Bang awards on 20 September

    Banglore ad club ‘international’ Big Bang awards on 20 September

    BENGALURU: The Bangalore ad club announced yesterday that its annual ‘Big Bang‘ awards would be held on 20 September this year at the Jayamahal Palace grounds in Bengaluru.

    “The Bangalore ad club has decided to make Big Bang more competitive. To this end, entries have been invited from Singapore, Malaysia, Thailand and Srilanka. This is a small but significant step towards taking Big Bang Awards, International”, says The Bangalore ad club executive director Arvind Kumar.

    In keeping with the global trend, the Big Bang Awards are going fully online this year. The Bangalore ad club has tied-up with Global Best Awards, US to make the Big Bang Awards Online from this year. “As many ad agencies and creative hot shops across the country have expressed interest in taking part in the Big Bang Awards, going online would help in reaching out to them more effectively”, says Bangalore ad club president Malavika Harita.

    The Big Bang Awards were constituted over quarter of a century ago, bringing together agencies across the country to share their creative campaigns, while offering a platform to network with fellow creative minds in the industry. The last five years have seen the Big Bang Awards rise in popularity, with Bangalore growing to be the hub of advertising in South India.

    The Bangalore ad club has started many new categories over the past few years, including health care, digital, PR and mobile advertising. Recognising the ever growing media options, the ad club has a separate set of media awards which have become extremely popular. It has also instituted awards for young achievers, creative persons under 30, etc., to recognise and nurture their creative abilities and to offer them a platform to showcase their talent.

    The Big Bang Awards will be co-presented by the Bangalore Mirror of The Times of India Group, Bengaluru.

  • Times of India Group to invest Rs 211 million in Mid-Day

    Times of India Group to invest Rs 211 million in Mid-Day

    MUMBAI: The print industry is seeing strange marriages. If traditional rivals The Times of India and Hindustan Times formed a joint venture to publish a newspaper in Delhi, Mid-Day Multimedia Ltd, publishers of a popular tabloid in Mumbai and Bangalore, today announced its new strategic alliance.

    Bennett Coleman Co. Ltd (BCCL which owns the Times Group) will own 6.65 per cent in Mid-Day Multimedia for Rs 211.1 million. The holding will be routed through a preferential allotment of Mid-Day shares at Rs 60 per share.

    Mid-Day said today it would issue and allot on a preferential basis 26,85,000 equity shares at a price of Rs 60 per share to Banhem Financial & Investment Consultants Ltd, an affiliate of BCCL. It would further issue 8,33,333 convertible preference shares to Banhem Financial & Investment Consultants at Rs 60 per share.

    “We have signed a business cooperation agreement. This alliance will benefit both organisations through cooperation in printing, circulation and advertising sales,” Mid-Day said in a statement.

    The promoters of Mid-Day are enhancing their investments in the company to support the company’s growth in print anf FM radio in metro markets across the country. Mid-Day will issue and allot on a preferential basis 29,27,333 equity shares at a price of Rs 60 per share to Ferari Investments and Trading Co Pvt Ltd, a promoter Group company. It will also issue 8,33,333 share warrants at a subscription price of Rs 6 per warrant (10 per cent of an exercise price of Rs 60 per warrant) to Ferari Investments and Trading.

    Mid-Day promoters will, thus, put in an incremental investment of Rs 225.6 million. The promoters will own 51 per cent while BCCL will have 6.65 per cent after both rounds of investment, the release said.

    It may be recalled that the Indian Express had bought a 10 per cent stake in Mid-Day for a little over Rs 250 million while BCCL held about 8 per cent. Subsequently, both had sold their stakes in the open market.

    In a joint statement, BCCL executive director Ravi Dhariwal and Mid-Day Multimedia managing director said: “The Times of India with its leadership position in the morning broadsheet market and Mid-Day with a successful formula for the middle-of-the day, are in fact complementary plays. With this alliance, we will endeavour to garner a larger market share of both readers and advertising in major metros of the country.”