HTMT to merge media units, plans IPO

MUMBAI:Hinduja TMT may merge its media subsidiaries into a single entity and opt for an initial public offering (IPO) by next year.

Chairman Ashok Hinduja announced this at the company's annual general meeting on Tuesday. Among the companies that will be merged are InNetwork Entertainment Ltd (INEL), Cable Video India Ltd, IndusInd Entertainment Ltd (IEL) and IndusInd Media and Communications Ltd.

While the finer details of the IPO, including the size of the issue, are yet to be worked out, Hinduja said that Shop24Seven, the companys media and e-commerce company, will also go in for an IPO next year. The home shopping satellite TV channel was launched in November 2001. Hinduja said that the shopping channel was set to break even in 10 months of its existence.

HTMT recently acquired 100 per cent equity control in Cable Video India Limited (CVIL) by buying out the 49 per cent stake of Asia Vision Entertainment Private Ltd. CVIL handles the Hindi cable movie channel CVO and has a library of 1,600 movies, while INEL is into production, acquisition and distribution of films. IEL is into local TV content and operates the IN brand of cable TV channels in several languages.

HTMT will continue to focus on its IT business and is aiming at a cent per cent growth in turnover and 70 per cent rise in net profit, Hinduja said. Export earnings from media and IT sector, said Mr Hinduja, are expected to increase from Rs 500 million to Rs 1250 million in the current fiscal.

Latest Reads
Four news genres saw no change in BARC week 2

All the four genres apart from Hindi news urban market saw no change in second week of the year. Aaj Tak continued to groove on the same tracks in the rural, urban and U+R genres as it did the previous year. India TV and News18 India interchanged their positions in the Hindi news urban market.

Television TV Channels Viewership
Sony Entertainment Television leads urban areas in week 2 of BARC

Sony Entertainment Television jumped to second position to fifth position as compared to the previous week in the Hindi (U+R) genre in Broadcast Audience Research Council (BARC) data for week 2 of 2018. Zee Anmol retained its first position in the rural market. Sony Entertainment Television and...

Television TV Channels Viewership
Aaj Tak becomes the world’s first News Channel to be awarded YouTube’s ‘Diamond Play Button’

India’s No.1 news channel Aaj Tak creates history yet again! The prestigious ‘Diamond Play Button’ bestowed by YouTube, recognises Aaj Tak as the global no.1, the first and the only news channel in the world to have crossed the 10 Million Subscriber mark.

Television TV Channels News Broadcasting
News18 India launches campaign; asserts channel’s leadership

News18 India, Network18’s general Hindi news channel, recently launched a campaign with a humorous and quirky film to drive home its leadership position in the crucial primetime band in the highly competitive Hindi TV news segment.

Television TV Channels News Broadcasting
Join Drac’s Pack on their cruise as &flix presents its next #FlixFirstPremiere ‘Hotel Transylvania 3: Summer Vacation’

It is seldom that you get to see the hilarious side to a monster trying to get himself a date with the help of a technological app like Siri! Have you ever seen a monster film that is full of fun, frolic, laughter, romance and adventure?

Television TV Channels English Entertainment
9XM On Stage with Salim Sulaiman

To celebrate the Republic Day week, 9XM - India’s most popular Bollywood music destination announces the launch of 9XM On Stage a splendid musical night created in honour of the Indian Armed Forces.

Television TV Channels Music and Youth
Prime Focus joins hands with Pritam and Kwan to create JAM8

Integrated media services company Prime Focus Ltd has announced its collaboration with Jam8, a musical platform founded by Indian music composer/director Pritam, and KWAN, a talent management company to serve as a 360-degree creative solution provider for the M&E industry.

Television Production House Film Production
Star Movies Kids is the new kid on the block

A few years ago Star India decided to hive off some bits of its repertoire and focus exclusively on its main GEC Star Plus and the emerging sports scenario. Surprisingly, the channel is now taking a new turn by targeting the youngest viewers. As per industry sources, the Uday Shankar-led network is...

Television TV Channels Kids
Zapak and Cartoon Network India partner to launch ‘Ben 10 - Alien Run’ mobile game

Anil D. Ambani led Reliance Entertainment’s Zapak, India’s leading Gaming Destination, in association with Cartoon Network India, rings in the New Year with an epic launch for fans and gamers alike, with Ben 10 - Alien Run Mobile Game.

Television TV Channels Kids

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories