ITV

Tag: Vinay Maloo

  • HFCL Nine-Broadcasting looking at more acquisitions

    HFCL Nine-Broadcasting looking at more acquisitions

    The acquisition of a 20 per cent equity stake in top notch production house Balaji Telefilms is just the first of many partnerships that the Kerry Packer- HFCL joint venture will be doing. In an interview to Business Standard Weekend, HFCL chairman Vinay Maloo revealed that the group was talking to at least five other production companies to take a 20-40 per cent equity stake. “These matters are likely to be finalised in a few weeks from now,” he said to the newspaper. “Our strategy is very clear. We want to ensure that we have the best content quality.”

    Additionally, Maloo said that his group was setting up a cinema division as well and would be producing movies with select directors. Part of that initiative has already started with the Director’s Cut series beginning on DD Metro wherein cinema makers are being called in to make movies for television.

    Maloo added that he was also looking at launching a channel or putting together a DTH platform – in contrast to what his co-promoter Mahendra Nahata told indiantelevision.com (see earlier story HFCL offers set top box in November) – or broadband streaming over the Internet.

  • Balaji board to meet on merger with HFCL Nine tomorrow

    Balaji board to meet on merger with HFCL Nine tomorrow

    Balaji Telefilms has called a meeting tomorrow of its board of directors on the future of its strategic tie-up with HFCL Nine Broadcasting.

    Balaji, in a notice to the National Stock Exchange last week and the Bombay Stock Exchange yesterday, said the meeting was being convened to consider a review of the proposed merger of Nine Network Entertainment India with the company.

    HFCL (Himachal Futuristic Communication Ltd) Nine Broadcasting is a 51:49 per cent holding company held by Vinay Maloo and Australian media magnate Kerry Packer. HFCL Nine was to take a 20 per cent stake in Balaji Telefilms.

    Balaji’s decision has been influenced by the “K factor” and the uncertainties surrounding HFCL Nine’s three-hour prime time slot on DD Metro. Balaji creative director Ekta Kapoor’s strong belief in the letter K as a good luck talisman for all Balaji projects somehow doesn’t seem to extend to HFCL, one of the currently infamous K-10 scrips. These were the scrips favoured by cornered bull operator Ketan Parekh. It is another matter that Parekh’s investment firms have a 4.5 per cent stake in Balaji.

    Parekh is in the custody of the Central Bureau of Investigation but that doesn’t seem to have prevented the HFCL scrip witnessing an abnormal upsurge in the last few days.

    HFCL Nine paid Rs 1,210 million last year for a three hour prime time slot on DD Metro. It has been lobbying for a long-term contract for its DD Metro slot ranging between five and 10 years with a revenue-sharing clause. This hasn’t been accepted and instead HFCL Nine has been offered the option of extending its contract by six months, ending March 2002 or by another 18 months, up to March 2003.

    The matter is at a stalemate at present and the uncertainty surrounding the deal has only added to the doubts within Balaji about the merger.

    The deal between the two parties, announced last November, involved a swap ratio where 65 shares of Balaji would be swapped for 200 shares of HFCL Nine.

    Balaji Telefilms was to acquire Nine Entertainment India, a wholly-owned subsidiary of Nine Broadcasting India, for Rs 340 million. Post-acquisition, HFCL Nine was to hold 20 per cent equity in Balaji Telefilms.