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Tag: Zee MGM

  • Sony ogles MGM; what happens to Zee MGM?

    Sony ogles MGM; what happens to Zee MGM?

    MUMBAI: Moves are afoot in the US which could spoil the plot for Zee TV in India. Especially its Zee MGM channel. Movie studio MGM – more than 70 per cent owned by billionaire financier Kirk Kerkorian – is in talks with Sony Corp for a sell out.

    Two other firms, Texas Pacific Group and Providence Equity Partners, are partnering Sony in a deal worth close to $ five billion. Each of the three is expected to bring in $1.5 billion, with the rest to be borrowed from the market.

    The three are looking at buying out the entire company which had a market capitalisation of $4.1 billion before the news of the talks broke. It would require Kerkorian’s sanction.

    Sony is lusting after MGM because of its assets which include the vast MGM movie library inclusive of the James Bond movies and the Pink Panther series.

    Kerkorian and his investment firm Tracinda Corp have bought and sold MGM and its various parts several times over the past few decades. Kerkorian and Tracinda bought MGM in 1996 from an affiliate of French bank Credit Lyonnais after the studio suffered years of Losses. Chief executive Alex Yemenidjian engineered a turnaround and added to the library by acquiring other companies, reports say.

    Last year, MGM lost the bid to buy Vivendi Universal Entertainment after offering around $11.5 billion for assets that included Universal Studios, reports say.

  • Zee net worth down Rs 19 billion after write-offs

    Zee net worth down Rs 19 billion after write-offs

    MUMBAI / NEW DELHI: The ‘cleanliness drive’ at Zee continues. The Zee Telefilms board has cleared another major phase of capital restructuring to clean up its balance sheet further.

    The media major has decided to write down its investments in its overseas subsidiaries by Rs 17.716 billion.

    Now that a majority of Zee’s overseas television channels are being shifted to India, the value of Zee’s overseas investments into these businesses is being restructured to correspond to business restructuring of foreign operations, says a company statement.

    The upshot of this restructuring will show on Zee’s net worth that will get reduced by Rs 19.207 billion from Rs 38.654 billion to Rs 19.447 billion.

    Deloitte Haskins and Sells, which had been appointed to value the business of Zee’s overseas subsidiaries, has pegged the current value of these businesses at Rs 12.3 billion – lower than the Rs 30 billion valued at the time of acquisition of these companies.

    Zee Telefilms CEO corporate strategy Rajiv Garg told indiantelevision.com that the transfer of capital of overseas companies into Zee Telefilms would take up the company’s valuation in proportion to the reduction that would happen in the overseas entities.

    This move comes in the wake of Government policy changes regarding uplinking of channels from India. Following the lifting of regulations on uplinking, other than the three channels – Zee MGM, Zee English and Trendz – all other channels in the Zee bouquet are now being uplinked from India.

    The restructuring move is being taken up to reflect the intrinsic value of its business, says the statement, adding that the restructuring measures are aimed to reflect the true book value of assets in Zee’s financial statements.

    Rs 1.5 BILLION SITICABLE LOSSES WRITE-OFF
    Zee is also restructuring its investments in its cable arm Siticable. Accumulated losses in the company amounting to Rs 1.49 billion will be written off by way of reduction in the share capital of Siticable. As a result of this reduction, corresponding Zee investment in Siticable would also get reduced and that would be reflected by way of corresponding reduction in Investments and Share Premium Account of Zee.

    This restructuring comes on the heels of the implementation of Headend in the Sky (HITS) project, which would cause certain moveable assets to be replaced by technologically upgraded equivalents.

    Garg clarified that the capital restructuring is being done to also facilitate the company and its subsidiaries like Siti Cable to properly chart out a future roadmap.

    Quizzed by indiantelevision.com whether this restructuring also means spinning off Siti Cable as a separate company and going in for an initial public offer (IPO), Garg said that “these are all possibilities.” On Siti Cable being made a public company, Garg said, “That is certainly an option with us. Any final view on the matter would be taken at an appropriate time.”

    Further queries whether the restructuring being effected would also have a bearing on Zee News’ operations from India as it has to comply with government norms of having its foreign holding capped at 26 per cent, Garg said that the case is being still studied and “appropriate action would be taken by the deadline (26 March).”

    Zee Telefilms has convened an extra ordinary general meeting on 25 March to seek its members’ nod for the proposed restructuring.

  • Zee MGM gets bitten by the Love Bug this month

    Zee MGM gets bitten by the Love Bug this month

    MUMBAI: This February Zee MGM promises 360 degrees of love and romance. The channel will showcase a series of romantic movies every Wednesday at 9 pm through the ‘Love Bug Festival.’ The month long festival began on 4 February.

    The movies to watch out for on the Love Bug Festival are Only You on 18 February and Mr Jones on 25 February.

    The festival started with Everyone Says I Love You, followed by Sleepless In Seattle on 11 February, that talks about a hugely popular romantic comedy, about a recently engaged woman (Meg Ryan) who hears the sad story of a grieving widower (Tom Hanks) on the radio and believes that they are destined to be together.

    On the other hand Only You is a tale of love, faith and destiny as Marisa Tomei plays Faith, who believes that two soul mates can be united if they find each other. And as the destiny points ‘him’ out for her, she decides to take it on herself from there. Rushing to the airport to see her soul mate, she misses him and the plane, but decides then and there, to go after him. The man of her destiny being an old classmate Damon Bradley, played by Robert Downey Jr., it’s a love story scripted by the heavens above.

    And that’s not it, the highlights of the month being Mr Jones where one can get an opportunity to watch the charming favourite character Richard Gere who stars with Lean Olin in this film, about a manic-depressive and a psychiatrist having a romantic affair. Mr Jones is intelligent, perceptive, charming and suffering from bipolar disorder. A disease that affords him periods of intense emotional pleasure, but which also results in periods of suicidal depression. Libbie, a psychiatrist takes an interest in his condition and in him – Love follows.

    So its romantic movies galore in February on Zee MGM or for that matter any other channel too.

  • New ‘plug-in’ movie channel Cine World set for February launch

    New ‘plug-in’ movie channel Cine World set for February launch

    MUMBAI: A wider choice of English films is what is promised when new movie channel Cine World makes its debut in the first week of February (the launch date is still being finalised).

     
    Cine World is promoted by Channel Guide India Ltd, which already runs what it says is India’s first and only FTA digital info TV channel catering to the promotional needs of the entire entertainment industry – television, films, music and events.

    Speaking on the new “plug-in” English movie channel was Channel Guide COO Ravi Deshmukh. Says Deshmukh, “We will be providing quality English films that have not been seen before by most viewers.” Cine World has sourced its movies from Australia, South Africa and Hong Kong as well as from the smaller Hollywood studio offerings, says Deshmukh. This will have kept acquisition costs low no doubt but Deshmukh assures that the films are of good quality.

    Cine World is not planning to take on the big boys of the business like HBO, Star Movies or Zee MGM but will operate as an English cable movie channel on the lines of INCableNet’s CVO or Hathway’s CCC. Additionally, Cine World will be showcasing one blockbuster Hindi film a week, says Deshmukh.

    Cine World is beaming of the Insat 3A satellite in C band and will become encrypted from Day 1 of official launch unlike its sibling Channel Guide which is an FTA channel.

    Channel Guide is currently showcasing a film a day at 11 pm so that viewers get an idea of the kind of films that will be on offer, says Deshmukh.

  • HBO looks to increase viewership base with ‘Big One’ programme block

    HBO looks to increase viewership base with ‘Big One’ programme block

    MUMBAI: Think movies! Think big! Think HBO! That is the message HBO is looking to get across to the viewer when it kicks off its new programme block The Big One this month. During each quarter, at least one movie will be shown in the block.
     

    For the first quarter that movie is Spiderman. The film airs on 30 January at 9 pm. On the corporate side Shruti Bajpai who used to be HBO’s marketing director South Asia has been promoted to HBO South Asia country manager. Speaking on the initiative Bajpai said, “Spiderman was one of the biggest theatrical releases in India and worldwide. The films that we will showcase in The Big One slot have done enormously well both critically and commercially. Spiderman is also keeping with our tradition of releasing a big movie in January.

    “In 2002 it was The Mummy and in 2003 we had Mission Impossible II. Looking ahead we will be showcasing some of the biggest movies from last year over the next couple of years. Together they have earned around 70 per cent of the worldwide box office revenues. When we talk about building up quality partnerships, we mean it. “

    HBO looks to rougish Denzel to spice up the action
    In February, its big blockbuster is The Scorpion King with wrestler The Rock. Another film is Training Day for which Denzel Washington won an Oscar. In terms of original content, the channel will continue to showcase its own award winning movies like The Gathering Storm, Live From Baghdad as well as Mira Nair’s Hysterical Blindness. The channel is also considering bringing in another high value quality show besides Sex And The City.

    “The show has held up extremely well since its launch. That is the test of any show and so the second season will commence this year. It has been in the top 10 for English general entertainment shows. It has bettered expectations in terms of the average ratings it got.” Bajpai said.

    Wrestler turned actor The Rock will strut his stuff on HBO
    It’s Oscar time next month. To celebrate the mood, the channel will have the block From The Greatest To The Latest. Every weekday at 9 pm an Oscar winner and nominee will be showcased back to back like Ben Hur and The Grinch. The films will get more and more new as 29 February approaches which is when the Oscars will be handed out, while ironically, the rights to telecast the show live have been bagged by arch rival Star Movies. Another theme will be The Rise of The Machines. The block will showcase Arnold Schwarzenegger. In March for the International Women’s Day, the channel will showcase the best work that actresses have done for Hollywood.

    Maintaining that 2003 was a good year for the channel, Bajpai said that December saw 11 of the top 15 movies coming from the HBO stable. This was when it ran the Best of 2003 block. For the prime time 9-11 pm slot, its share was 42 per cent. AXN, Zee MGM, Hallmark and Star Movies shared the rest. Bajpai claims that primetime share was also highest when you took into account other niche channels like Discovery and Cartoon Network.

    She points out that there had been a great deal of innovation in terms of targeting viewers. ” We were the first English movie channel to create a special block for youth which was HBO Generation Me. Our themes got bigger and better. Our Summer Action Marathon gave us a higher channel share than the competition. We were also able to expand our viewer base with the HBO Filmmaker series. That catered to the discerning viewer.”

  • Zee Tele in re-organisational mode

    Zee Tele in re-organisational mode

    NEW DELHI: The Subhash Chandra-promoted Zee Telefilms is on a re-organisational mode, which the company dubs, is a move aimed at job enrichment and offering higher responsibilities. There are several changes in portfolios of senior executives, including a replacement for Zee TV president Apurva Purohit and additional responsibilities for Yogesh Radhakrishnan.
     

    To start off with, Sunil Khanna, at present CEO of Zee Turner, would shift to Zee TV as its president, taking over from Purohit, who would leave Zee to try out new things.

     

    Sunil Khanna

    Khanna has been with the Zee Network for 10 years, occupying various positions, and has an enviable track record in distribution and marketing. Khanna, a engineering graduate from IIT Kharagpur and management graduate the Indian Institute of Management, Bangalore , is a marketing professional having worked in various marketing positions before joining Zee.

    Ashwini Yardi, presently business head for Zee MGM and Zee English, will assist Khanna as head of programming for Zee TV.

    Khanna is expected to take over formally at Zee TV in Mumbai after Purohits service period ends on 31 January.

    Dheeraj Kapuria, at present heading operations of Zee in the USA, will take over as CEO of Zee Turner from Khanna. Zee Turner Pvt. Ltd. is a distribution a 74:26 joint venture between Zee Telefilms and Turner International India, a Time Warner company.

    Kapurias deputy in the US, S. Venkatasubramanian, will take over from him. In order to integrate in a better fashion the global distribution operations, Sunil Rohra, head of the UK operations and Pushpinder Singh, head of the Africa operations, will report in to Kapuria, along with the US operations.

    According to Zee Telefilms CMD Subhash Chandra,  This re-organisation is a result of our learning from an in depth internal communications exercise in which I met most of the managers within the network to assess the width of in-house talent. It was truly satisfying to reaffirm that we have an extremely talented pool of people in-house. I believe by enriching their portfolios, they will lead Zee Network into the New Year with greater vigour and effect.

    Coming back to the changes in the offing at Zee Telefilms, Sudhir Mishra, a renowned Bollywood writer and director, has been retained as a Creative Resource. Together with the other measures outlined above, this critical addition would greatly strengthen the in-house programming team of Zee TV, the company has said.

    The ambit of responsibilities of the following senior management personnel has been expanded.

    Abhijit Saxena, presently handling international business (Asia Pacific) and syndication of programming, will handle Zee English, Zee MGM, Trendz, Smile TV and FX Channel as business head.

    The last two are channels mentioned above are on the ASC Enterprise and Zee-promoted Dish TV direct-to-home (DTH) platform. But it is expected that these two channels, along with some new ones like Zee Classic movie channel, are to be made part of the cable service for CAS-enabled consumers, starting off with South Delhi.

    Yogesh Radhakrishnan

    Yogesh Radhakrishnan, in addition to his present portfolio of Zee Cinema and Zee Music, will also handle Premier Cinema, Action Cinema and Classic Cinema, all newly launched channels.

  • Andrew Davis to head physical production for MGM

    MUMBAI: MGM Pictures has named veteran producer Andrew Davis as its executive VP physical production. Davis will report to MGM studio president Michael Nathanson.
    In India MGM has 50:50 joint venture with the Subhash Chandra broadcaster Zee for the channel Zee MGM. Davis will oversee physical production and post-production operations for all films created by MGM Pictures. Davis takes over the post from Jeff Coleman, who resigned to pursue other challenges. An official release informs that Davis has spent the past 12 years in various production capacities helping make over 15 films.
    He served as executive producer on films like the serial killer film Red Dragon, the Jackie Chan – Chris Tucker action comedy Rush Hour 2, Nicholas Cage’s Christmas film Family Man. He has helped create movies for most of the major studios, working with such directors as Brett Ratner, Tony Scott, Richard Donner and Alex Cox.
    From 1989 – 1991 he served as the executive production manager with Walt Disney’s subsidiary Hollywood Pictures. Davis added, “I am excited about the opportunity to work with multiple filmmakers and to develop those relationships further. My goal has always been to make excellent movies, which this job will allow me to do with many different creative teams.”

     

  • ‘U’ certificate only for music videos: I&B ministry

    ‘U’ certificate only for music videos: I&B ministry

    NEW DELHI / MUMBAI: What the I&B minister proposes, the I&B ministry is left with the onerous task of disposing. I&B minister RS Prasad’s recent comments to the media that all TV channels, barring news channels, would have to air programmes that can be certified or has been certified ‘U’ (fit for people under 18) by the Censor Board, looks likely to be given a not-so quiet burial.
     

    Indiantelevision.com has learnt that the I&B ministry next week is all set back track on the ‘U’ certificate “controversy” raised by Prasad. The government will allay the fears of movie channels that they too, would have to obtain a ‘U’ certificate for the films they air, say government sources.

    According to a government source, “We are not into being moral police. The ‘U’ certificate would have to be obtained only for (Indian) music videos as per the Cinematographic Act.”

    Regarding Indian movies, the government source clarified that such films are anyway subjected to Indian Censor Board certification which are also valid when they are also valid when they are aired on television channels.

    Queried about the rules that apply to English films, the source said foreign films are subject to the certification and rules of their respective countries.

    Referring to English movie channels like Zee MGM, HBO, Star Movies and Hallmark, the government source said, “We hope that the English channels would keep Indian sensibilities and sensitivities in mind when airing movies.” Basically the line that Prasad has more than once gone on record as stating: That channels should exercise self-regulation.

  • Zee MGM aims to ride high on movie festival power

    Zee MGM aims to ride high on movie festival power

    MUMBAI: It’s changing all right. Zee MGM is shedding is relaxed attitude and gearing up for action to push the channel. Be it in terms of programming, promotions or marketing.
    The channel claims to have garnered more share than other movie channels during its Bond movies festival from 3 October 2003 till 24 October 2003. While during one of the movies in the Jim Carrey movie festival 12 November to 26 November, the channel shares were more than its contemporaries. Besides the cross-channel promotions the channel also made its presence felt in the on ground promotions.

     
    Keeping up with the competition, the channel makes it a point to select class A and class AB movies. Apart from that, movies on popular demand are also selected. Zee’s movie arm aims to bolster it with good promotion and right publicity. According to the channel sources, during the airing of one of the Bond movies the channel chase shot up to 2.07 percent as compared HBO 0.62 per cent and Star Movie 0.32 per cent in Mumbai. Even in the capital Delhi, the channel shares were 1.41 per cent, as for the competition it was 0.94 per cent for HBO and 0.16 per cent for Star Movie.

    With the 9:00 pm to 11:00 pm being the prime time for the channel, it has divided the time band into slots specific to every month including Romantic Mondays, viewers choice Tuesday Zee MGM Select, The great Money chase on Wednesdays, Total action Thursdays, Bond Special on Saturday and Weekend Blockbusters on Sunday.

    The special flavour of the month includes the Oscar awarded movies. While the channel has remained tightlipped, but industry sources claim that there is lot of action scheduled to happen in the coming month.

    With the channel having picked up a list of movie including the new releases Serendipity, Confessions of a dangerous mind and Chicago, the festive offering on the channel is Chicago on 25 December at 9:00 pm as a Christmas special.

    But how has it affected the channels? According to the channel sources the number of the brands to endorse the movies has definitely risen. While brands like Britannia, LG, Samsung, Nokia, Hutch, Mahindra and Mahindra continue to be on board, the channel has got Asian Paints, Fiat, Honda, Airtel, Panasonic, Addidas, Mc Donald, Parryware, and BPCL.

  • MTV brushes off [V]’s power of one claim

    MUMBAI: The war regarding who is numero uno among the music channels is getting red hot. Yesterday Channel [V] held a party boasting that it was the number one music channel thanks to Popstars 2 and a slew of other strong programme initiatives. Piqued at this claim, arch-rival MTV has issued a response.
    MTV has stated that it has consistently been on top of the heap for the last five years. “In fact in the last 12 weeks our channel share stands (SEC ABC 15-34) at 22 per cent more than that of Channel [V]. For the same period, MTV reached 24 per cent more audiences than Channel [V],” the statement says.
    MTV has also pointed out that a recent ad in leading newspapers by Discovery, highlighted the fact that it was extremely strong in the 4+ audience category. Within the broadcaster’s own TG 15-24, the broadcaster claims to have emerged as the leading channel followed by HBO, Discovery, Star Movies and Zee MGM.
    Regarding Channel [V]’s boast of getting advertisers such as Nestle on board MTV stated, “Unlike our competition, advertisers don’t just treat us as a music channel. We are the preferred television channel for any advertiser that wants to influence the 15 -34 category.”
    “It’s been another great year for us. Some of the most exciting properties on the Indian television are on MTV – MTV Youth Icon, Lycra MTV Style Awards, MTV Hero Honda Roadies and soon, the country’s first real Music Awards – MTV Immies. These properties ensure for MTV not only larger audiences but an even larger number of brands advertising on our channel.”
    It remain to be seen as to what B4U Music and Zee Music have to say.