ITV

Tag: Vinay Chhajlani

  • Network18 appoints new directors and a CFO

    Network18 appoints new directors and a CFO

    MUMBAI: New appointments have been made at the Reliance Industries’ controlled Network18.

     

    Rajiv Luthra and Dhruv Kaji have been appointed as independent directors of the company. Additionally, Hariharan Mahadevan has been appointed as the chief financial officer (CFO) and Kshipra Jatana as manager.

     

    The appointments are effective from 27 November. Earlier this year when Reliance Industries’ took over Network18, CFO RDS Bawa quit along with a host of other executives including CEO B Sai Kumar, COO Ajay Chacko, editor in chief Rajdeep Sardesai etc.

     

    As of now, founder Raghav Bahl, Rohit Bansal, Vinay Chhajlani, Deepak Parekh and Adil Zainulbhai are the directors of Network18.

  • Network 18 gets shareholder approval to borrow up to Rs 1800 cr

    Network 18 gets shareholder approval to borrow up to Rs 1800 cr

    MUMBAI: The board of directors (BOD) of Network 18, at its annual general meeting (AGM) seeked shareholder approval for allowing borrowing power up to Rs 1800 crore. At the same time the BOD of TV18 also requested the same for Rs 1500 crore.

     

    Both the resolutions were passed giving the BOD rights to borrow till the limit over and above the paid-up capital, free reserves and securities premium account.

     

    Another special resolution was to get an approval to offer or invite to subscribe to non-convertible debentures on private placement basis for both the companies.

     

    ‘Private placement’ means any offer of securities or invitation to subscribe securities (equity or securities that convert to equity) to a select group of persons by a company, other than by way of public offer, through issue of a private placement offer letter.

     

    Bothe the special resolutions were passed at the AGM with 100 per cent votes.

     

    The ordinary resolution passed at the meeting included, re-appointment of Raghav Bahl as a director who retires by rotation, appointment of Rohit Bansal and Vinay Chhajlani as directors and appointment of Deepak Parekh and Adil  Zainulbhai  as independent directors.

     

    Other resolutions include appointment of auditors and fixing their remuneration (ordinary resolution), approval of the remuneration of the cost auditor (ordinary resolution) and adoption of new articles of association of the company (special resolution).

     

    It has been four months since the Bahl-founded company was taken over by petrochemical conglomerate Reliance Industries’ chairman Mukesh Ambani.

     

  • Zee meets but no deal on NewsX

    Zee meets but no deal on NewsX

    MUMBAI: Subhash-Chandra promoted Zee Network has decided not to acquire NewsX after having met to explore possibilities of acquiring the English news channel.

    NewsX would have offered Zee an entry into the English news channel business. The attraction of acquiring the loss-making channel at a low price and enjoying tax benefit initiated discussions for a possible deal.

    “We met but are not acquiring NewsX,” a source familiar with the development said.

    A deal for Zee makes sense if it comes at a very low valuation. Zee News Ltd, which runs a clutch of news channels including Hindi news channel Zee News, Zee Business (Hindi business news channel), 24 Taas (Marathi) and Zee 24 Gantalu (Telugu), has been mulling launch of an English news channel but has been cautious of not overstretching itself.

    NewsX is currently owned by Nai Duniya owner Vinay Chhajlani and the former editor of Business World Jehangir Pocha, after they bought it in 2009 from INX.

    Zee News Ltd. chief executive officer Barun Das did not want to comment on the issue.

    The English news space is occupied by Times Now, NDTV 24×7, CNN-IBN and Headlines Today.

    ZNL needn’t be in a hurry to have an English news channel as the market is bad. They are focused on their operating margins and they didn’t disturb that. Unless, of course, they get a channel to acquire at a lucrative price and benefit from taxes. They already have a studio and can cut down on costs while upping revenues from their bouquet strength,” said a media analyst.

  • NewsX undergoes makeover, gets new name

    NewsX undergoes makeover, gets new name

    NEW DELHI/MUMBAI: Eighteen months after it was bought over by Indi Media from Indrani and Peter Mukerjea, the English news channel NewsX is all set to take on a new identity: it will be known as IMN News from July.

    The change in the name of the channel to Independent Media Network News will also mean a change in the name of the company. But the new nomenclature will be known only after one of the three names, proposed by Indi Media, is approved.

    Jehangir S Pocha, who had formed a joint venture with NaiDunia promoter and CEO Vinay Chhajlani to take over INX News in January last year, did not rule out more ventures in media after the re-launch of NewsX as IMN News. Pocha, who is a former editor of Businessworld, was categorical that any new venture would be in the non-fiction sphere.

    Introducing the new name and logo, he told mediapersons that the entire news channel would undergo a complete change with new programmes and formats. He also stressed that the channel would not ‘personalise news’ – that is, individual presenters or anchors will not be promoted as it is being done by some other channels.

    Pocha said that the new brand name and look had been developed by Argentina-based broadcast design house Stein Branding and the new sets were being created by James Yates Design in New York.

    He said, unlike other news channels, IMN News would have a clear screen and not cluttered with several scrolls running simultaneously. There will be just one half-hour slot on entertainment, he said, reacting to a comment that most news channels thrive on cricket, cinema and crime. He said crime would not be played up as is being done by some channels, particularly in the regional and Hindi sphere.

    Answering a question, he said around 15 to 25 new stories would be covered everyday, with just three or four being played up if necessary. He stressed that there would be no ‘noisy shouting’.

    He was categorical that the aim would be to present news that is non-tabloid in nature and contemporary. Around 12 to 14 new programmes are being launched simultaneously though he indicated that the popular India Inc business programme would continue.

    Talking about the logo, he emphasised that the morning beam and evening beam will have different colours in keeping with the mood of the day. He also said a new website will be launched, imnews.com.

    Stressing that the new organisation had cut costs since it took over the channel, he said the number of staff had come down from 450 to around 327, of which 65 per cent were on the edit and journalistic side. Outside the country, the channel has bureaus only in New York and London.

    While ruling out any financial investment by any other media group from India or overseas, he said that arrangements for getting news are being worked out with Voice of America and a Pakistani news channel.

    He said TBWA is handling the advertising for the channel. 

    IMN News will continue to be beamed from INSAT 4A, which has a footprint over south and South East Asia and parts of the Arab world.