Television

Chandra offloads 2.5 million shares for Rs 270 million

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2014/08/22/zeetv_2.jpg?itok=eVXfbWiR

A little over a month after media baron Subhash Chandra's Zee Telefilms Ltd, announced its promoters had placed 5 million shares with a U.S.-based institutional investor, another 2.5 million shares were offloaded yesterday with an FII.

Though Zee officials did not divulge the price, the placement will raise about Rs 270 million, according to merchant banking sources. The Financial Express, quoting market sources, said the deal was done on the National Stock Exchange (NSE) at a price of Rs 106.50 per share, amounting to around Rs 266.2 million. The transaction represents about 0.6 per cent of ZTL's paid-up capital and further lowers the promoters' stake to around 58.3 per cent.

According to a company release, the proceeds from the placement will be paid back to ZTL upon settlement of the transaction. The group promoters had earlier borrowed Rs 2200 million from ZTL for the Essel group. They had announced that the entire amount would be returned by June 30. However, the Essel group has since then managed to pay back Rs 1100 million in two tranches. An initial payment of RS 600 million was paid and last month's transaction raised another RS 500 million. CIBC Oppenheimer was the investor in last month's deal and paid slightly less than Rs 100 a share for its stock holding.

AC Saha, president, corporate finance and strategy, Essel Group of companies, said: "Placement of these shares reinforces the promoters' commitment to fulfil their obligations, despite the share price of Zee Telefilms LTD not being very attractive at this stage.

The figure of RS 2200 million is what the Zee Network had reportedly advanced to Essel group investment companies, which was subsequently transferred to cornered bull Ketan Parekh's investment companies.

The announcement comes amidst a spurt in activity around the scrip over the last few days. The speculative activity is apparently linked to reports that Chandra may be willing to lower his personal stake to half the present equity which would effectively deprive him of management control of the company.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/21/lal.jpg?itok=gi-ZabHS
&TV presents Laal Ishq - passionate love stories with a supernatural twist

We promised to be together forever. Nothing could take us apart - not even death. Even though my body has long gone, my spirit still lives on… my soul will always be with you. For true love, never dies. &TV’s latest offering Laal Ishq, a series of passionate love stories with a supernatural...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/21/kumkum.jpg?itok=MYwxtkw_
Zee Anmol retains lead in GEC (U+R) in BARC's week 24 data

Zee Anmol retained its top spot in Broadcast Audience Research Council (BARC) data for week 24 in the Hindi GEC (U+R) market. While Star Utsav and Rishtey swapped their third and fourth positions in the rural market, Star Plus and Zee TV exchanged second and third positions in the urban segment.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/21/mirror.jpg?itok=iCGUizmu
BARC, Week 24: Rebublic TV dominates, Mirror Now enters top five

MUMBAI: Times Network’s English news channel, Mirror Now, replaced NDTV in the All India Broadcast Audience Research Council’s (BARC) week 24 rantings, as Arnab Goswami's Republic TV continued to dominate the English news market While Aaj Tak led the charts in two Hindi news markets, ABP News...

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/21/com.jpg?itok=dt4jzm8M
What next with Fox-Disney-Comcast ?

MUMBAI: Part poker, part chess. That's exactly how the Disney-Comcast bidding war for Rupert Murdoch's entertainment conglomerate - 21 Century Fox - is being played out. The intense, see-saw battle for the media empire, which includes Hollywood studios, cable networks and streaming businesses, isn...

Television Production House Post Production
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/21/sky.jpg?itok=iRHwz8oe
Sky News gets 15-year commitment from Disney in takeover battle

MUMBAI: Disney has refrained from selling Sky News without the U.K government’s permission and offered British authorities a commitment to operate Sky News for 15 years. For its part, 21st Century Fox has offered new commitments in an attempt to get its $15 billion bid for Sky over the finish line...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/21/discovery.jpg?itok=8KddrXNz
Discovery picks Park Avenue address for new global HQ

MUMBAI: Discovery Inc. has selected a Park Avenue address for its new global headquarters. The company is also expanding facilities and adding jobs in Virginia. The company has signed a long-term lease with TF Cornerstone to occupy the entire space of 230 Park Ave South. According to GlobeSt.com,...

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/21/cr7.jpg?itok=-tKIxKC0
NBCUniversal accuses BeoutQ of illegal streaming of FIFA World Cup in MENA

MUMBAI: NBCUniversal, an American multi-national media conglomerate owned by Comcast, has accused a pirated streaming service called BeoutQ in the Middle East and North Africa (MENA) for illegally broadcasting the FIFA 2018 World Cup matches. NBC's Telemundo unit, which holds the Spanish-language...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/21/Sony.jpg?itok=YEJWnfIl
How Sony is bringing the FIFA World Cup 2018

MUMBAI: Sports broadcasting is no ordinary business. Just ask Star India and Sony Network Pictures (SPN) India – who often slug it out against each other for the rights of premium sporting properties. The two high rollers of Indian sports broadcasting play by one simple rule: high risks, high...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/20/mpa.jpg?itok=vqd31YXu
Sports media rights to soar 22% in 2018 in Asia Pacific: MPA

The market value of sports media rights is set to reach US$5.0 billion in Asia Pacific ex-China this year, according to Asia Pacific Sports In The Age Of Streaming, a new report published by Media Partners Asia (MPA).

Television TV Channels Sports

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories