Television

Nimbus, IMC cases cleared amongst FDI approvals

NEW DELHI: The Indian government today cleared a clutch of media-related FDI proposals, including that of Nimbus Communications and the Hinduja-promoted Indusind Media Communications.

In the case of Nimbus Communications, the government has permitted transfer of shares representing 10.57 per cent held by an erstwhile overseas corporate body, Transatlantic Corp, to Americorp Ventures.

This means that 10.57 per cent shareholding in Nimbus is now held by Americorp. Government document state that there is no inflow of foreign investment.

 

This approved transaction will also lead to a change in the nature of foreign equity holding of the media and communications company as the shareholding will shift from an overseas corporate body to the Mauritius-based Americorp.

Transatlantic Corporation, also based in Mauritius, used to hold before the government approval over 4.3 million shares in Nimbus, which were acquired through foreign inward remittance under the automatic route of FDI policy.

The Mumbai-founded Nimbus is a company that operates in the media and entertainment space dabbling in activities like advertising, publicity, marketing consultancy/research, entertainment through music, dance, drama, movie, TV and other mass media communications.

 

 

Nimbus’ case was amongst the 29 foreign direct investment (FDI) cases approved by finance minister P. Chidambaram amounting to Rs. 1,470 million. These proposals related to ministries/departments of bio-technology, commerce, environment & forests, information technology, information and

broadcasting, etc.

The Indusind Media Communications (IMC) case envisaged allotment of equity shares in IMC to a foreign company (Kudelksi S.A. of Switzerland) against funds received in an escrow account in London.

Though the government today did not specify the amount of shareholding that Kudelksi will have in IMC, company sources said it is likely to amount to less than five per cent.

At a time in 2003 and 2004 when conditional access system (CAS) was a hot topic, IMC had entered into a deal with Kudelksi for supply of encryption technology and other related services for setting up a cable TV network for distribution of multi-channel information/entertainment package and other

value added services. The foreign company was also to supply IMC with the set top boxes.

Other media cases included that of editing, printing, sales and distribution of the Indian edition of the International Banking Systems Journal, produced by IBS Publishing of the UK and a proprietorship concern relating to production of motion and video films involving a non-resident Indian from Australia. Here

the FDI inflow will amount to Rs. 20 million.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/12/colp.jpg?itok=xKojrAKq
Republic TV to track real-time data for Gujarat elections

MUMBAI: Republic TV has partnered data-science company Gramener to track real-time data, along with analysis, during the Gujarat elections. According to a release sent by Republic TV, “Gramener will help enhance the visual look both on-air and on Republic’s digital platforms to present the data in...

Television TV Channels News Broadcasting
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

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories