ITV

Tag: TV18

  • TV18 appoints Sify’s Surya Mantha as Web18 CEO

    TV18 appoints Sify’s Surya Mantha as Web18 CEO

    MUMBAI: Television Eighteen group has appointed Surya Mantha as the chief executive officer for its internet business arm – Web 18. Mantha brings with him 15 years of experience that spans business management, consulting, product and service development, product management and marketing across a range of business and consumer software, hardware and services companies.
    Prior to joining Web18, he was heading the interactive service business for Sify India based out of Chennai. He had also spent several years at RealNetworks in Seattle WA, USA, according to an official release.

    TV18 group CEO Haresh Chawla says, “Mantha brings with him a unique combination of skills & experience spanning both technology and consumer understanding, particularly in the internet space. This will go a long way in establishing Web18’s dominance in the consumer Internet space in India. We are also confident that his experience in a global environment will help scale up Web18 into the global league.”

    This follows close to the group acquiring three Internet companies – Cricketnext.com, Compareindia.com and Urban Eye, a web design and technology firm. The acquisitions will help the group consolidate its focus on the internet business further. This was the second round of acquisitions that Web18 has announced. The company acquired stakes in Yatra.com and Jobstreet.com India a few months ago.

    The Indian Internet industry is on the verge of explosive growth. By 2008, the online user base is expected to grow to 100 million. Web18 has been consistently growing its Internet presence organically as well as through relevant acquisitions in the consumer Internet space.

  • TV18 plans to raise Rs 1 billion, HSBC gets mandate

    TV18 plans to raise Rs 1 billion, HSBC gets mandate

    MUMBAI: Raghav Bahl-promoted Television Eighteen India Ltd. plans to raise Rs 1 billion by placing equity shares or convertible bonds with foreign institutional investors (FIIs).
    The company has mandated HSBC to manage the proposed issue, a source close to the company says. “We are close to finalising on whether it would be an equity or a convertible bond instrument. We have mandated HSBC and plan to raise Rs 1 billion,” he adds.

    When contacted, TV18 CEO Haresh Chawla declined to comment on the issue.

    TV18 had earlier, in its Extra Ordinary General Meeting (EGM), cleared a proposal to enable the board to issue up to an aggregate amount of Rs 3 billion through a “qualified institutional placement to qualified institutional buyers.” This was “just an enabling clause so that the board would not have to seek regulatory clearance again,” the source adds. By making qualified institutional placements, companies are able to raise money in India from FIIs.

    TV18 may use part of the amount to fund acquisitions and upgradation of studio infrastructure. Bahl has aggressive expansion plans, both in the TV and the internet space.

    Web 18, TV18’s internet arm, will have a chief executive officer to head the operations, the source says. Recently, TV18 Group announced the acquisition of three internet companies — Cricketnext.com, Compareindia.com and Urban Eye, a web design and technology firm. The internet businesses are being consolidated under Web 18.

    TV18 is also setting up a Media Venture Capital Trust (MVCT) through which it plans to invest Rs 500 million in the convergence space, identifying small-sized ventures to whom it would provide funding support at the early stage.

  • Bahl sells 275,000 TV18 shares to Network 18 Fincap

    Bahl sells 275,000 TV18 shares to Network 18 Fincap

    MUMBAI: Network 18 Fincap Pvt Ltd (previously known as SGA Finance and Management Services Private Limited) has acquired 275,000 equity shares from the promoter Television Eighteen India Ltd (TV18), Raghav Bahl for Rs 183.1 million.

    So far, Bhal has transferred 1,275,000 shares to Network 18 Fincap for an approximate amount of Rs 800 million in less than a months’ time.

    For the record, he sold 200,000 shares at Rs 609 on 18 August, followed by 300,000 equity shares at Rs 601 on 14 August, 300,000 shares at Rs 640 on 4 August and 200,000 at Rs 650.25 on 3 August to Network 18 Fincap.

    The transaction was executed by way of block deal on the stock exchange, TV18 said. “Pursuant to the sanction to the scheme of arrangement by the Hon’ble High Court of Judicature at Delhi, Network 18 Fincap Pvt Ltd has acquired 2,75,000 shares from Bahl,” a statement TV18 posted on the BSE declared.

  • TV18 to provide VC funding to convergence companies, earmarks Rs 500 million

    TV18 to provide VC funding to convergence companies, earmarks Rs 500 million

    MUMBAI: Raghav Bahl-promoted Television Eighteen is jumping into the convergence arena. The company plans to invest Rs 500 million in this space, identifying small-sized ventures which need funding support.

    TV18 will function more as a venture capitalist, making investments into these companies at an early stage. “We realise there are opportunities in the convergence area of internet, TV, and broadband. Small companies engaged in this field are springing up. We plan to support them and make judicious investments spread over a string of companies. We have taken an enabling resolution to make investments in this space up to a maximum of Rs 500 million,” says a senior company executive.

    TV18 is setting up a Media Venture Capital Trust (MVCT) through which it will make these investments. The MVCT shall be suitably structured as a tax efficient investment vehicle for undertaking these investments and will offer co-investment opportunities to the promoters of the company and other identified reputed investors.

    The investments will be primarily in high growth companies. “TV18 will seek to invest, directly or indirectly minority stakes in these companies through repayment guaranteed / collateralized instruments convertible into equity, with an option to increase up to majority stake at a later date, wherever possible, subject to necessary provisions and approvals,” the company informed the BSE.

    Outside these investments, TV18 will continue to acquire vertical portals. The company, which has internet ventures being consolidated into a wholly owned subsidiary, acquired in April a 50 per cent stake in the Indian arm of Jobstreet.com. Eariler in the year, it had invested in Yatra Online where other investors included Anil Ambani’s Reliance Capital and Norwest Venture Partners (NVP) – Promod Haque’s leading venture capital firm.

  • Zee, TV18, Balaji in top 500 Indian companies’ list

    Zee, TV18, Balaji in top 500 Indian companies’ list

    NEW DELHI: Only a handful of media companies like Zee Telefilms, Deccan Chronicle and Television Eighteen Ltd find a place in a survey of top 500 Indian companies conducted by Economic Times newspaper.

    With a market cap of Rs. 9.3 billion in June 2006, Zee Telefilms has been ranked 142nd in ET500 in August 2006, up from an earlier survey in February when it had been placed at 281st position.

    Incidentally, Zee tops the media heap amongst the best in India where the top two slots are occupied by infotech companies, Tata Consultancy Services and Infosys Technologies.

    Regional media powerhouse, Deccan Chronicle Holdings, finds a place at No. 167 with a market capitalization of Rs. 1.4 billion.

    Television Eighteen, owners of TV channels like CNBC TV18 and CNN IBN, has slipped to No. 330 in ranking in August from an earlier position of 318.

    According to ET500, TV18’s market cap in June stood at slightly over Rs. 1 billion.
    The other two media organizations finding place in the top 500 Indian companies are Adlabs (rank: 342) and TV and movie production house Balaji Telefilms (rank: 355).

    Balaji too slipped in ranking from No. 336 in an earlier ET500 list.

    Economic Times used several parameters, including market capitalization of a company, to compile the ET500 list.

    The eight parameters considered included absolute change in market cap over the past one year, sales, absolute change in sales over the past year, net profit, absolute change in net profit over the past year, price to earnings (P/E) multiple and return on net worth.

    The market cap of companies during the period June 16-30, 2006 has been considered, while sales and profit numbers are for 12 months ended March 2006.
    (Rs. 47=1US$)

  • TV18 & SAIF’s Home Shopping Network appoints Sundeep Malhotra as CEO

    TV18 & SAIF’s Home Shopping Network appoints Sundeep Malhotra as CEO

    MUMBAI: Television Eighteen has appointed a chief executive officer for its yet-to-launch Home Shopping Network. Pepsi Foods Ltd executive VP- sales Sundeep Malhotra has been named as the CEO for the Home shopping channel.

    At Pepsi Foods LTD, Malhotra was spearheading Modern Trade & On Premise channels for Pepsi’s Indian subcontinent beverage businesses. Apart from his five year stint with PepsiCo, he also has over 15 years of experience in the retail industry, working with companies like Bata and Benetton, informs an official statement.

    Early this year, TV18 had announced the launch of the Home Shopping Network in association with the SAIF Partners.

    According to TV18 CEO Haresh Chawla says “Sundeep brings with him an immense knowledge of both consumer behaviour and fast changing channel and sales dynamics which are critical for this business. I am confident that his robust consumer orientation and his diversified retail and organised trade experience, will give Home Shopping Network a cutting edge.”

  • TV18, Balaji scrips shine on strong Q1 results

    TV18, Balaji scrips shine on strong Q1 results

    MUMBAI: This is a result investors may have been waiting for. Television Eighteen put up a robust first quarter performance, pulling the scrip up by Rs 13 to close today in the BSE at Rs 605 in a market that slipped 61 points after four days of continuous rise.

    On the television front, TV18 has doubled its revenues over the year-ago period while net profit has jumped 65 per cent to Rs 138.21 million. The company now has four channels – two in the business space and two general news channels.

    The Group’s internet business is also poised for a scale up, having crossed $1 million (Rs 46.75 million) in the quarter. TV18 is eyeing acquisitions and will soon re-launch jobstreet.com and yatra.com. The company has already announced plans to hive off the internet business which will make it attractive for strategic investors.

    “The scrip could lift up further, based on these results. The valuation of the internet business will also be interesting,” a market analyst says.

    Balaji Telefilms, which announced its first quarter results yesterday, is the other media scrip which climbed 4.34 per cent to close the day at Rs 109.45 in the BSE. Analysts say this was on the back of a 39 per cent jump in the TV content producer’s net profit to close the quarter at Rs 173.77 million.

    The market is yet to be enthused by UTV’s deal with Walt Disney Company, shedding marginally in the BSE to close 1.8 per cent down at Rs 168.65. The global media major had bought out Hungama TV and taken a 14.9 per cent stake in UTV for a total consideration of $44.5 million (approximately Rs 2 billion).

    “The scrip will gain value once Disney chalks out a joint plan with UTV. It is not clear yet where Disney wants to take UTV forward,” says a market analyst.

    Among the other media stocks to fall are Zee Telefilms (2.24 per cent to Rs 257.20) and NDTV (from Rs 156.2 to Rs 155.30). TV Today almost stayed flat to close at Rs 76.60.

  • TV Today mulls business channel, Bloomberg tie-up

    TV Today mulls business channel, Bloomberg tie-up

    MUMBAI: The Aroon Purie-controlled TV Today Network is exploring starting a business news channel in association with American financial and business news major Bloomberg.

    The tie-up can involve Bloomberg picking up an equity stake in the proposed business channel. Even if an equity deal doesn’t happen, the tie-up would certainly be a licencing and co-branding one on the lines that Time Warner inked with the TV18 group for the English news channel CNN IBN in 2005 as and when it’s concluded.

    When contacted, TV Today declined to comment.

    Unofficially, though, the Delhi-headquartered TV Today attempted to play down the developments, saying such reports were “speculative at the moment.” Insiders, however, insisted work on a business channel has started.

    The network has earmarked between Rs 350 million to Rs 400 million for operating a new business news channel, company sources said.

    The Indian news network is targeting to launch the business channel in the first quarter of 2007, if not earlier. However, the deal is subject to regulatory and government clearances.

    Last year, Bloomberg had applied to India’s Foreign Investment Promotion Board (FIPB) for a proposed television software venture, which will produce and distribute business and financial news television programmes in English to local television channels.

    Bloomberg’s TV channel that was available in India till a couple of months back is off air as it hasn’t yet applied for landing rights, a new rule that’s being pursued by the Indian government to monitor TV channels uplinked from outside India.

    Interestingly, TV Today Network floated a subsidiary company, christened TV Today Network (Business) Ltd, during the last financial year ended 31 March 2006. The development was communicated to capital markets and investment experts some time ago.

    “Consolidated financial results (for FY 2006) include the results of 100 per cent subsidiary TV Today Network (Business) Limited, which was formed during the current year and is yet to commence business. Accordingly, figures of corresponding period/year are not applicable,” the company had said in a statement. The stock market buzz signifies that TV Today is likely to launch the business channel through this subsidiary company.

    In an interview given to Indiantelevision.com in 2004, Purie had expressed the possibility of starting a business news channel.

    Presently, TV Today operates Hindi market leader Aaj Tak, its English sibling Headlines Today, a Hindi version of Headlines Today called Tez and Dilli Aaj Tak. TV Today scrip closed on the Bombay Stock Exchange (BSE) on Wednesday at Rs 76.75 after opening the day at Rs 76.75.

  • TV18 net up 65% at Rs 138.21 million

    TV18 net up 65% at Rs 138.21 million

    MUMBAI: Television Eighteen’s consolidated net profit has shot up 65 per cent to Rs 138.21 million for the first quarter of this fiscal, as against Rs 83.51 in the year-ago period.

    TV18’s revenue has also seen a 55 per cent jump to stand at Rs 416.07 million. In the first quarter of FY06, the company’s turnover was Rs 269.17 million. Early this year, TV18 had picked up a stake in Jagran TV, the managers of the Hindi news channel –Channel7.

    Revenue from news operations rose to Rs 364.52 million, from Rs 257.31 million a year ago. TV18’s internet business has crossed $1 million during this quarter. The new media assets include the recent acquistion of jobstreet.com (Indian arm). The group plans to hive off its internet business this year.

    TV18’s operating profit has gone up 57 per cent to Rs 213.76 million, up from Rs 136.45 million. The company has maintained an operating margin of over 50 per cent.

    TV18’s restructuring scheme, which would make it compliant with the uplinking guidelines laid down by the government, has been approved by Delhi High Court.

    “Our revenues continue to show robust growth and we expect to benefit significantly from the increase in distribution platforms for our services – via DTH, broadband, digital cable and mobile,” Television Eighteen MD Raghav Bahl says:

  • Media scrips soar as Sensex recovers

    Media scrips soar as Sensex recovers

    MUMBAI: Bucking the trend of a sustained dip over the last few days, the Bombay Stock Exchange (BSE) benchmark Sensex gained over 345 points today, recording the biggest single day gain for the month. The bounce back was fuelled by massive buying by foreign and domestic funds even as global markets firmed up.

    The Sensex closed at 10,352.94, after touching an intra-day high of 10,409.58 points. The National Stock Exchange (NSE) index Nifty registered a gain of 90.30 points and closed at 3,023.05.

    Among the media stocks, Sun TV recorded the maximum gain on the back of healthy FY06 results. Inspired by an almost 70 per cent jump in net profits, the Sun TV scrip closed at 1,083.60 in the BSE, higher by Rs 38.10. At the National Stock Exchange (NSE), it ended the day’s trade at 1,085.50 with a gain of Rs 35.30. The rally was significant as the scrip had tumbled yesterday from Rs 1099 to Rs 1045, a fall of Rs 54.

    In the media block, TV18 scored the next best gain for the day, going up by Rs 35.70 to close at Rs 578 on the BSE. At the NSE, it gained Rs 36.7 to reach 577.35 points. TV18 has been maintaining a steady run since a long time. Since the last one month, the scrip has gone up by Rs 92 at the BSE.

    UTV Software Communications, riding on the market expectations of an equity deal with an international major, gained Rs 14.35 at the BSE today, to close at 165.65 points. At the NSE, it gained Rs 13.00 to touch Rs 164.45. Gemini Communications rose Rs 14.7 at the BSE, to reach 396. Navneet Publications gained Rs 10.45 at the BSE and Rs 11.45 at the NSE to close at 278.55 and 279.30 respectively. Hinduja TMT recorded a gain of Rs 9.8 to close at 479.75 at the BSE.

    Other prominent media scrips which also recorded gains for the day included NDTV, Zee Telefilms, Entertainment Network India, Adlabs Films and Balaji Telefilms. However, Saregama India was the only major loser as the scrip dipped by Rs 7.3, to close at 142.45 at the BSE.