Television

Star to take 25 % stake in Balaji Telefilms

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/01/06/Balaji.jpg?itok=LF5rCH6q

MUMBAI: They have been closely bonded for a while now. The Jeetendra Kapoor promoted Balaji Telefilms has been Star India's leading winning content provider for more than four years.



The bonds are about to get stronger with the announcement by Balaji that its board had approved a proposal for a Star Group affiliate to soak up 25.1 per cent of its equity.



According to a financial analyst that indiantelevision.com spoke to, the buzz has been in the market for a while now regarding this deal, which is why the Balaji scrip has "skyrocketed" in the last month or so. The share, which on 8 July was Rs 57, closed today at Rs 92.15.



Under the terms of the proposal, Balaji will be preferentially allotting 17,263,790 shares and/or share warrants convertible into equity shares representing up to 25.1 per cent of Balaji's total post-issue paid up capital to Star affiliate Asian Broadcasting FZ-LLC. The investment, a notice posted on the National Stock Exchange site says, will be done as follows:



* 13,694,193 equity shares constituting 21 per cent of Balaji's post issue paid up equity share capital (initial shares) at Rs 90 per share;

* Share warrants convertible into unto 3,569,597 equity shares constituting unto 4.1 per cent of Balaji's post issue paid up equity share capital (the warrants) at Rs 90 per share with 10 per cent of the consideration for the warrants being paid to the company at the time of the warrants are being issued. The warrants shall be convertible into equity shares for a period of 18 months from the date of their issue only if and to the extent that, the investor's shareholding at the time of conversion is less than 26 per cent of the total paid up equity share capital of the company.



Commenting on the "buy-in", Star India CEO Peter Mukerjea had this to say, "Balaji has been a content provider for a long time and we thought that the relationship should be made more formal."



According to Star India COO Sameer Nair, "This is a very strategic investment for us. Balaji, because it's one of the best production houses, and also since we share a very healthy relationship with them."



Talking about what this would mean for Balaji Telefims, Nair says, "Well, this is an investment and will have no bearing on Balaji's role as a content provider to channels per se."



Asked as to how other broadcasters would react to the development, Nair says, "I think the other channels should look at this in a very mature manner. It happens all over the world, and its time we mature as a market and stop calling ourselves a nascent market."



Balaji informed the Bombay Stock Exchange that Asian Broadcasting will be making an open offer to acquire shares from the market a price determined in accordance with SEBI Regulations, 1997.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/sunny-leoae.jpg?itok=3SZqrF40
Sunny Leone in Discovery JEET’s show Man Vs Wild

Sunny Leone will be displaying her adventurous side as host of the mega-popular survival series Man Vs. Wild. The iconic series will telecast in Hindi on the soon-to-be-launched GEC Discovery JEET. The new GEC will premiere in the second week of February 2018 and the series will feature the...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/sm.jpg?itok=gUhILkq8
Times Now appoints Sujeet Mishra as marketing head

Times Network, part of India’s media conglomerate, The Times Group today announced the appointment of Sujeet Mishra as head of marketing, Times Now.

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/sony-bbc_1.jpg?itok=mQuiQxIO
Experience space with BBC's new VR experience

The BBC is giving you a chance fly. Home - A VR Spacewalk is an interactive virtual reality (VR) experience launched today for the HTC Vive and the Oculus Rift, and is available to download for free via the Steam Store and the Oculus Store.

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/bbc_0.jpg?itok=jTEnctw5
Sony BBC Earth presents the Best of 2017

Sony BBC Earth revisits some of its most popular episodes of the best shows in a special programming line-up titled Best of 2017 starting 18 December 2017, every night at 7 pm and 11 pm.

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/shemaroo.jpg?itok=JLK5kQw2
Increased revenue from traditional media boosts Shemaroo numbers

Integrated media content house Shemaroo Entertainment Limited (Shemaroo) reported 18.3 percent higher year-on-year (y-o-y) consolidated total revenue for the quarter ended 30 September 2017 (Q2 FY 2017-18, the quarter under review) stood at Rs 1,345.7 million as compared with Rs 1,138.6 million in...

Television Production House Film Production
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/mur.jpg?itok=Hql64_2L
21st CF spins-off into new live news & sports co Fox

MUMBAI: After the blockbuster acquisition of 21st Century Fox by The Walt Disney Company, the former has announced that it will spinoff into a new brand Fox’ that will seek to replicate its own success in the newly focussed verticals of live news and sports brands. Using fiscal 2017 as a base, the...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/uday_0.jpg?itok=t8VAurqw
With Star India, Disney emerges as India's largest M&E firm

MUMBAI: Unlike the US, where the merger of The Walt Disney Co and 21st Century Fox’s entertainment assets is between two near equals, the scenario in India is totally different. 21st Century Fox’s India venture Star India is a $1.7 billion dollar media and entertainment behemoth while Disney India...

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/14/bob.jpg?itok=zPgBgsME
Disney to buy 21st Century Fox assets for $52.4 billion

The Walt Disney Co has set up a $52.4 billion, all-stock deal to acquire 20th Century Fox and other entertainment and sports assets from Rupert Murdoch’s empire.

Television TV Channels Movie Channels
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/14/mania.jpg?itok=Jb64uy53
MOVIES NOW brings #StopDreamingAndStartWinning with 100 Mania Season 5 for its viewers

Movies Now, India’s english movie channel, rings in the festive season with its property ‘100 Mania’, beginning Friday, 15 December at 9pm. In its 5th season, the channel has curated a line-up of some of the biggest Hollywood blockbusters like Furious 7, Jurassic World, Disney’s The Jungle Book,...

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories