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Tag: TV18

  • TV18 Q4 net up 25%, plans English biz newspaper launch within a year

    TV18 Q4 net up 25%, plans English biz newspaper launch within a year

    MUMBAI:TV18 has posted a net profit of Rs 189.52 million for the quarter ended 31 March 2008, up 25.51 per cent as against Rs 150.99 million from the corresponding quarter of the last fiscal.

    During the period, total revenue has seen a growth to Rs 1.11 billion, from Rs 680.8 million.

    The company’s consolidated revenue has surged 64 per cent, on a year-on-year (YoY) basis, to stand at Rs 1.32 billion.

    TV18 MD Raghav Bahl said, “We are extremely happy to declare this quarter’s financial performance. Our news channels continue to lead the business news genre. The revenues from all properties are showing solid growth. Acquisition of Infomedia is underway and should soon be completed. We have forged a JV with Jagran Prakashan to launch a Hindi business newspaper and are also preparing to enter the English business newspaper market”.

    TV18 is planning to launch a Hindi and English business newspaper within 12 months. The English business daily is likely to have Financial Times (which is splitting relationship with Business Standard) as a partner.

    In the news operation segment, total revenue stood at Rs 1.09 billion for the quarter ended 31 March 2008, up 53 per cent year-on-year. Net profit of news operations stood at Rs 300.98 million (after ESOP charge out).

    During the period, Web18’s total revenue stood at Rs 180.18 million, up 112 per cent YoY. Web18 suffered a loss of Rs 146.55 million for the quarter as against a loss of Rs 32.27 million in the last fiscal.

    For Web18, which houses the internet properties, TV18 is planning to list overseas in the calendar year.

    As reported earlier by Indiantelevision.com, Web18 is planning to list in the US to raise funds for expansion. Web18 is looking at diluting 10-15 per cent through an ADR (American Depository Receipt) issue. 

    Total revenue of Newswire18 stood at Rs 44.59 million for the last quarter of FY08, up 26 per cent quarter on quarter basis. Newswire18’s loss was Rs 31.69 million during the period.

    For the full year, TV18 has posted a net profit of Rs 416.84 million, as against Rs 175.11 million a year ago. Total Revenue has climbed from Rs 2.01 billion for the year ended March 31 2007 to Rs 3.65.billion for the year ended 31 March 2008.

    Shares of TV18 rose 2.78 per cent to close Monday at Rs 344.35 on the BSE.

  • TV18 promoters to up stake in firm via creeping acquisition

    TV18 promoters to up stake in firm via creeping acquisition

    MUMBAI: Television Eighteen India on Friday said its promoter group would increase stake in the company through a creeping acquisition instead of subscribing to warrants.

    Network18 Media and Investments Ltd, a founder group firm, has already acquired 300,000 equity shares in TV18 since 15 February 2008 via purchases in the open market. TV18 owns and operates business news channels CNBC TV18 and Aawaz.

    The fall in share prices could have triggered Network18’s decision to buy in the open market. 

    TV18 board had earlier approved the issue of 10 million warrants to allow Network18 India Holdings , a unit of Network18, to up its stake in the company.

    “Network 18 India Holdings has decided not to subscribe to the preferential allotment of 10 million convertible warrants of TV18 that were approved for allotment,” an official statement said.

    Creeping acquisition is a process by which the promoters of a company holding less than majority stake increase their equity either by making an open offer to the shareholders or buying from the market.

  • TV18 Q3 net profit up 42 % at Rs 208 million

    TV18 Q3 net profit up 42 % at Rs 208 million

    MUMBAI: Television 18 India Ltd declared its third quarter results for the period ended 31 december 2007. Net profit for the quarter (after deferred tax) was Rs 208.22 million, up 42.3 per cent from the Rs 146.31 million achieved in the corresponding quarter a year ago.

    TV18’s Total Q3 Revenues surge to Rs 1.12 bn; UP 74 per cnt YoY and up 27 per cent QoQ.

    Business news revenues were up 57 per cent (YoY), according to a statement issued by the company on the unaudited results. Business News operating margin was back at 50 per cent. Internet revenues were up 161 per cent (YoY), while newswire18 revenues were up 44 per cent (QoQ).

    Meanwhile, Infomedia (subsidiary-under-acquisition) revenues stood at Rs 410 million;

    Highlights:

    • TV18 forays into print medium with acquisition of Infomedia.
    • Announces a Strategic tie-up with Forbes to launch business magazine.
    • Web18 revenues show promising growth. Moneycontrol stays ahead of ndtv.com and wsj.com for the entire quarter.

    TV18 MD Raghav Bahl said: “We are happy to announce the financial results for this quarter. We are excited about our entry in the print space through the acquisition of Infomedia. Both news channels are maintaining their dominant positions in relevant markets. Web18 revenues have started showing strong growth. Newswire18 is continuously adding new clients to its list.”

  • TV18 calls EGM to allot 10 million convertible warrants

    MUMBAI: Television Eighteen India Ltd, part of Raghav Bahl’s media conglomerate Network 18, today informed the BSE that an Extra Ordinary General Meeting (EGM) will be held on 8 February to allot 10 million convertible warrants on preferential basis to Network18 India Holdings.

    These warrants would be convertible into 10 million equity shares, of the face value of Rs 5 each at a premium of Rs 518 against the convertible warrant of Rs 523.

    Network18 India Holdings is a wholly owned subsidiary of Network18 Media & Investments (formerly known as Network18 Fincap).

    The proposal was approved by the board of directors during their meeting held today.

    Network 18 through its holdings in TV18 operates business news channels — CNBC TV18 and CNBC Awaaz.

  • TV18 partners with Forbes to launch biz magazine in India

    MUMBAI: Television18, a group company of Network18, has entered into a partnership with Forbes Media to launch a business magazine in India.

    The partnership will include a content licensing arrangement and will also envisage introduction of other Forbes products, subject to regulatory approval.

    Plans are on to launch the magazine in early 2008. Network18 MD Raghav Bahl said, “Our partnership with Forbes for a business magazine in India is another compelling testimony to the growing acceptance of the Indian growth story worldwide. We will be strongly positioned to deliver a benchmark offering in the market by fusing the strong editorial and brand lineage of Forbes and our expertise in the Indian business media market.”

    Adds Forbes chairman, CEO and editor-in-chief Steve Forbes:”India is one of the prime markets Forbes has wanted to enter for sometime. We were waiting for the right partner and are so pleased that we have reached a partnership agreement with Network18. We look forward to making Forbes available to this forceful market soon.”

    TV18 on Tuesday announced acquisition of special interest and business categories publisher Infomedia India. 

    The partnership with Forbes will bring in strengths in the print space and will synergize with TV18’s television and new media properties. Currently, TV18 operates India’s leading business channels CNBC-TV18 and CNBC Awaaz, besides Newswire18 and a host of web properties like moneycontrol.com.

    Network18 group CEO Haresh Chawla said, “Forbes is an ideal partner for us as we expand our competencies into the print medium and thus strengthen our position as one of India’s leading full play media conglomerates. India’s readership potential is yet to be fully tapped and as the market evolves, credible and strong brands will succeed in the print space. We see a lot of opportunity for value creation in this partnership by unleashing cross platform synergies and developing a roster of market leading offerings in the coming years. The addition of Forbes will further energize our business portfolio which already commands leadership through CNBC-TV18, CNBC Awaaz, Newswire18 and web offerings such as moneycontrol.com, indiaearnings.com.”

    In recent years, Forbes magazine has increased its international presence with titles such as Forbes Asia and licensed local language editions such as Forbes China, Forbes Russia, Forbes Arabia amongst others.

  • TV18 Q2 consolidated revenue up 67 % at Rs 883 million

    MUMBAI: TV18’s consolidated revenue grew 67 per cent year-on-year to be at Rs 882.97 million for the quarter ended 30 September 2007.

    Revenue from news operations was at Rs 735.05 million, up from Rs 476.92 million a year ago. Profit (after tax and ESOPs) in this segment was at Rs 156.93 million, as against Rs 119.40 million.

    Though revenue from the internet and software operations more than doubled to Rs 123.23 million (from Rs 53.16 million), TV18 incurred a loss (after tax and minority interest) of Rs 77.38 million as against a profit of Rs 16.36 million in the corresponding quarter of the previous year.

    Newswire18’s revenue jumped to Rs 24.69 million, compared with Rs 8.93 million in the previous quarter. Loss (after tax and minority interest) has improved to Rs 29.86 million, from Rs 49.92 million.

    Said TV 18 MD Raghav Bahl: “Our channels are maintaining their leadership positions and revenues from Newswire18 are growing strongly. We are investing aggressively in Web18 as Internet remains a key focus area.”

  • TV18 Group is now Network18; unveils logo

    MUMBAI: TV18 Group is rechristened as Network18. The new branding will unify all current and future entities of the TV18 Group under a single umbrella.

    Existing companies such as TV18, GBN, Web18, Homeshop18, Viacom18, Studio18 and Events18 will reflect the new corporate identity.

    The Group will also don a new logo which is red and white in colour. “The logo reflects the company’s brand identity which is a window to an ever-changing world in addition to connoting the stature and ambitions of the emerging global media corporation,” the company said in a statement.

    Commenting on the new branding, Network18 managing director Raghav Bahl said, “We have come a long way since TV18 began in 1992 as a small production house. From television news to filmed entertainment, Network18 leaves little untouched and unconquered, thus taking it a step closer to becoming the undisputed media mega brand! Despite our rapid growth and diversification, the one thing that has not changed, is our vision to be ‘better than the best’ and to continuously set new standards in this fast growing industry.” 

    Added Network18 Group CEO Haresh Chawla, “Network18 has built some of the most enviable media brands and audience franchises in India and we continue to work aggressively towards building India’s finest truly multi-platform media conglomerate. The new Network18 identity unites our over 3000 strong team and operations with a common set of values and aligns them behind a common purpose. The unified identity will help us harness the power of our individual brands and build an even stronger relationship with all our stakeholders. It is an exhilarating moment for all of us.” 

    Network18 Group COO B Sai Kumar said, “Network18 embodies all the attributes of a start-up and combines it with the power to enable, enlighten and entertain every Indian. Over the past decade, the Group has been able to empower more than 80 million Indians. The re-energised entity will aim to reach out to a much larger audience in India and globally. In the process, we also hope to make Network18 the first truly Indian, global media company.”

  • TV18 Q1 consolidated revenue at Rs 682 million

    MUMBAI:TV 18’s consolidated revenues surged to Rs 681.57 million for the first quarter ended 30 June 2007, up from Rs 453.66 million in the year-ago period.

    TV 18 has posted a net profit of Rs 76.19 million on a turnover of Rs 579.23 million from its news operations for the first quarter ended 30 June 2007.

    In the year-ago period, revenue was at Rs 402.12 million while net profit stood at Rs 36.86 million. The company runs business channels CNBC-TV18 and CNBC-Awaaz.

    Though revenue from internet and software operations jumped to Rs 93.41 million from Rs 51.54 million, TV 18 incurred a net loss of Rs 25.53 million as against a profit of Rs 21.29 million in the corresponding period of the previous year.

    “The investment losses of Web 18 are minimised by strong revenues of existing portals,” the company said in an official release. Web 18 has commenced conversion to US GAAP standards.

    Newswire 18’s revenue stood at Rs 8.93 million while net loss was at Rs 49.92 million for the quarter. TV 18 acquired Crisil MarketWire (CMW) from Crisil Ltd and rechristened it as Newswire 18.

    Commenting on the performance TV18 MD Raghav Bahl said,: “We are thrilled with this Quarter’s performance. While our channels are scaling new heights in the business news space, the internet properties under Web18 have started posting robust revenues. Newswire18 has expanded its network and is ahead of its business plan.”

  • TV Today scrip soars on Reliance Capital offer

    MUMBAI: With TV Today Network shares shooting up, Anil Ambani’s Reliance Capital may find it difficult to attract investors for an open offer as it bids to increase stake in the news broadcasting company.

    The scrip jumped 5 per cent today to close at Rs 147.15 on the BSE, higher than the offer price for 20 per cent stake at Rs 130.50 per share. Reliance Capital, in fact, had set the price seven per cent below TV Today’s Tuesday market closing at Rs 140.2.

    Though the offer would open later from 6-to-25 June, analysts expect the price of TV Today to stay firm. Investors may want to sell now at a higher price or hold on with the hope that the scrip would climb as the offer date opens.

    “The price at Rs 130.50 is seen as too low to attract investors. It is not an aggressive bid and needs to be revised for having any serious selling interest from existing shareholders,” says an analyst at a broking firm.

    Reliance already has 11.93 per cent in TV Today after a recent purchase in the open market. The interest to hike up stake, analysts say, is partly due to the suppressed scrip price of TV Today which runs a clutch of news channels including the Hindi market leader Aaj Tak.

    Reliance would have to pay Rs 1.5 billion for the 20 per cent offer. For a similar stake in rival news broadcasters like NDTV and Global Broadcast News (CNN-IBN), the financial services firm controlled by the Anil Dhirubhai Ambani Group would have had to cough out more.

    Analysts dismiss the possibility of a takeover with the promoters of TV Today controlling 55.69 per cent stake in the company. “Reliance Capital is, perhaps, sending signals that they are interested in the TV company in some form. It could be as financial investors. But if they sense an opportunity, they may move in,” analysts say.

    In an official statement, Reliance Capital has clarified its position. “We have strong confidence in the future prospects and growth potential of TV Today, and wish to increase our stake beyond the threshold of 15 per cent specified under the Securities and Exchange Board of India (SEBI) takeover regulations. For meeting the procedural requirements, we are making an open offer to facilitate the increase in shareholding beyond 15 per cent. This will not result in any change in the management and / or control of TV Today.”

    Reliance Capital has equity in several media and entertainment companies including TV18, NDTV and GBN. It acquired a majority stake in Adlabs Films and Synergy Communications and has expressed interest to grow in this sector.

  • TV18, Sophia Polytechnic hosts award for docu film making

    TV18, Sophia Polytechnic hosts award for docu film making

    MUMBAI: TV18 and the Department of Social Communications Media at Sophia Polytechnic hosted the Award for Excellence in Documentary filmmaking. The philosophy behind the initiative is to encourage young female talent in communications and broadcast journalism.

    The Chief Guest for the ceremony was the TV18 Group’s Managing Editor, Senthil Chengalvarayan.

    The TV18 Award for Excellence in Documentary Filmmaking will be an annual trophy which will carry a cash prize of Rs. 50,000 for the winning group. An independent panel of industry professionals and senior educational staff will judge the students.

    The association aims to help potential documentary filmmakers and will help nurture the spirit of independent filmmaking and issue-based creative work.

    Addressing the gathering TV 18 The Cell Network Creative Director Zubin Driver said, “It is indeed an honor to be a part of such an awards ceremony. This is an excellent platform for women filmmakers to show case their talent.”
    .This initiative will also kick-start a long term relationship between TV18 and Sophia Polytechnic, which includes course interventions, internships and workshops that will involve real time media experience.”

    The award-winning documentary was titled: Mom & Dad

    Group 3 was awarded for Excellence in Documentary Filmmaking at the Social Communication Media Department of Sophia Polytechnic.

    The winners include:Naina Panemanglor, Yashaswini S.R.,Chinmayi Shalya, Pallavi Joshi,Neha Belvalkar,Priyanka Bhuyan, Kavita Carneiro, Anshika Varma, Priyanka Mehra.