Television

Zee plans bonds issue to fund DTH, movies

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/02/05/Untitled-1_4.jpg?itok=iLozy63-

MUMBAI: It has put all its fingers in as many pies and is gunning for more. Obviously, it needs funds to keep the mega plans going. So, Zee Telefilms is planning to raise funds through a bonds issue in the international market to finance its ongoing and upcoming ventures. Zee Telefilms director-finance Hitesh Vakil told indiantelevision.com that the company has secured RBI clearance to raise up to $ 90 million in funds by way of debt.

The finance is being sought for multiple reasons. The media major is looking to infuse capital into conditional access equipment and its direct to home (DTH) venture that was soft launched by ASC Enterprises Ltd on 2 October 2003. Zee's DTH platform is already operational and is marketing the network's various channels.

RBI clearance for raising up to $ 90 million obtained

Applied towards

Direct to home (DTH) venture

Conditional access equipment

Production of feature films by Zee's Films Division

Paying out high cost debts and the over-riding interest of Zee and its subsidiaries

The funds would also be used for producing feature films made by the Zee Telefilms Ltd Films Division. Zee's film division had started with the block buster Hindi film Gadar - Ek Prem Katha. Films Division CEO Nittin Keni had told indiantelevision.com in an interview earlier that three movies were in the pipeline - One Dollar Curry- an Indo-French production directed by Vijay Singh, Khosla Ka Ghosla with Anupam Kher and Bhagmati - a live animation film produced by the Zee Institute of creative Arts and directed by Ashok Kaul.

The films will be distributed by the newly formed Zee Rajshri Film Distribution Company. The company is a tie-up between Zee Telefilms Ltd and Rajshri Pictures P Limited to manage distribution of all films produced or co-produced by Zee, Padmalaya and Rajshri. It will also provide a distribution platform for the entire film industry.

Meanwhile Zee Telefilms is continuing on its 'cleanliness drive'. The funds generated by the bonds issue will also be channeled towards paying out high cost debts of Zee and its subsidiaries. This, Vakil said, would help Zee save on high interest costs as well.

Zee is going through an extensive reorganisation. In a meeting held on 15 December 2003, the Zee board had approved the merger of group companies ETC Networks and Econnect India Ltd as part of a larger corporate restructuring plan. Earlier in 2003, Zee had tried to clean up its balance sheets by writing off completely corroded investments in its subsidiaries Econnect and Zee Interactive Ltd.

Recently, the company also went through an extensive portfolio reshuffle at the senior management level.

The ZTL board had also approved the merger of five Mauritius based operating entities viz. Software Suppliers International Ltd (SSIL), Zee Telefilms International Ltd (ZTIL - syndication of ZTL content), Zee MGM (managing movie channel MGM), Expand Fast Holding Ltd, BVI (EFHL - providing satellite services to group broadcasting companies) and Asia TV (Africa) Ltd (marketing and distributing the Zee Network in Africa) with Asia Today Ltd, Mauritius (broadcasting of Zee TV and Zee Cinema).

The fresh funds fit in well within the recent restructuring initiative taken up by Zee. This because once Zee gets rid of the high cost debts and the heavy interests riding on them, it would no doubt result in greater operating and cost efficiencies for Zee.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/12/nakul1.jpg?itok=n95iPoI2
Nakul Chopra is new BARC chairman

MUMBAI: Nakul Chopra, currently president of Advertising Agencies Association of India (AAAI) and senior advisor of Publicis Communications, has been elected as the next chairman of BARC India. Chopra succeeds Viacom18 group CEO Sudhanshu Vats, who has completed his one-year tenure as chairman.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/12/nitin.jpg?itok=w3KFq-K3
Nitin Kukreja joins iQuest

Former Star India sports head Nitin Kukreja has joined iQuest Enterprises as its chief executive officer. Kukreja had left Star in March this year. IQuest is an enterprise of Nimmagadda Prasad, the former owner of the Maa TV group, who has multiple business interests ranging from infrastructure to...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/12/sun.jpg?itok=qmg25IGp
Sun TV's unassailable lead continues, while Zee TV leads Hindi across genre

BENGALURU: The Sun network's flagship Tamil general entertainment channel (GEC) Sun TV continued its lead in ratings across all GECs on Indian television for week 48 of 2017 (25 November to 1 December 2017) according to Broadcast Audience Research Council (BARC) weekly ratings data

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/11/vikas.jpg?itok=zxlytGcp
Republic TV, BTVI join hands for budget coverage

MUMBAI: Republic TV, spearheaded by Arnab Goswami, and Business Television India (BTVI) have entered into an alliance for content and programming around Union Budget 2018. The Republic TV- BTVI alliance promises to offer viewers a distinctive experience.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/11/nba_0.jpg?itok=C2zPkp_A
Mairu Gupta and the art of building the NBA in India

MUMBAI: For basketball fans worldwide, the US National Basketball Association (NBA) represents the mecca of the sport. But in India, the NBA has had its task cut out, what with cricket presenting a near impenetrable line of defence.

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/09/cnn-news18-year.jpg?itok=rbLMcF5z
CNN-News18 'Indian of the year' 2017 special Telecast on 9 and 10 December

MUMBAI: The awards night of the annual and flagship initiative of CNN-News18, ‘Indian of the Year – 2017’ will be telecasted on the 9 and 10 of December at 9:30 PM on the channel. The initiative, whichrecognizes and awards the exceptional contribution and achievements of the iconic Indian citizens...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/09/rodies.jpg?itok=2krWNvsY
Music channels bet on shows to boost viewership

MUMBAI: Seems like music channels are playing second fiddle to online music platforms when it comes to playing tracks. In an attempt to grab more eyeballs, pure-play music channels on television are moving away from the music content and focusing more on the youth-centric shows.

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/08/gossip.jpg?itok=xw4jvLW4
Zee TV leads Hindi GECs in week 48 of Barc ratings

MUMBAI: Zee TV emerged as the leader among Hindi general entertainment channels (urban + rural) dethroning Zee Anmol, according to Broadcast Audience Research Council’s (BARC) all-India data for week 48.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/08/Arnab-goswami2.jpg?itok=R7KgtjH3
Republic TV continues lead as genre ratings rise

BENGALURU:Two of weeks earlier, we had mentioned that the English News genre’s four week average ratings and weekly ratings have been falling since weeks 29 to 32 of 2017. The fall continued until week 47 of 2017 when the combined Broadcast Audience Research Council of India (BARC) weekly ratings...

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories