Television

Radio Mirchi plans to invest Rs 1.20 billion in phase II radio expansion

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/04/27/Itv_11.jpg?itok=Qe8RXBFC

MUMBAI: Canada-based private equity fund Double Honour Holdings Ltd (DHHL) has exited from Radio Mirchi ahead of the initial public offering (IPO), making a profit of Rs 192 million.

DHHL has sold 10 per cent of its holdings for Rs 495 million to Bennett Coleman & Company Ltd (BCCL), promoter of Entertainment Network (India) Ltd which operates FM radio channel Radio Mirchi. The private equity fund had bought its stake in December 2002 for Rs 303 million at Rs 26 per share. DHHL sold 11,696,000 shares of Entertainment Network for Rs 42.34 per share.

Entertainment Network is planning to raise over Rs 1.55 billion, though the size of the IPO will depend on the price band which is yet to be fixed. The company will issue 12,000,000 equity shares of Rs 10 each at a premium through the book building process.

Entertainment Network has currently earmarked total One-Time-Entry Fee payments of Rs 1.20 billion in relation to the phase II policy and intends to fund this from the net proceeds of the IPO. "However, we cannot ascertain the exact number or category of licenses that we may secure in the Phase II bidding and the bid amounts that we may need to pay for obtaining these licenses. Further, we may exercise the option to migrate any or all of our Phase I licenses and the OTEF payable will be fixed on the basis of average bids placed by other bidders during the Phase II bidding process," the company said in its draft red herring prospectus which it has filed with the Securities and Exchange Board of India (SEBI).

The company also plans to invest up to Rs 350 million from the issue proceeds in the subsidiary, TIMPL (Times Innovative Media Pvt Ltd), which is into out-of-home media and event management business. "We intend to utilise this amount by subscribing to a fresh issue of shares of the subsidiary. We will grant loans to the subsidiary. The mix for such subscription of shares or loans has currently not been determined," the prospectus said.

The promoters (Times Intotainment Media Ltd and BCCL which are entities that are part of the Times Group) will together own 73.2 per cent stake in the company immediately upon completion of the IPO or 71.3 per cent in case the greenshoe option is exercised.

Radio Mirchi operates private FM radio stations in seven Indian cities including metropolitan cities of Delhi, Mumbai, Chennai and Kolkata. It is also the only private FM radio broadcaster in the cities of Ahmedabad, Indore and Pune.

Entertainment Network had a total income of Rs 494.62 million in the six months ended 30 September 2005, jumping 55.9 per cent over the corresponding period a year ago. The company posted a net profit of Rs 110.51 million in the first half of the current fiscal, though it had reported a net loss of Rs 178.97 million in 2004-'05. The main reason for the losses in the previous years was the high annual fixed license fees for the FM radio broadcasting stations, which was the amount of the initial bid with a 15 per cent increase per year on a cumulative basis.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/20/hul%20%281%29.jpg?itok=RZX0thii
Online, music cos.enter top 10 TV advertisers list in week 2 of 2017

The first week of 2017 saw an all FMCG hold over the top 10 television advertisers list in terms of ad insertions as per BARC data. The total number of television ad insertions by the top10 brands in week 1 of 2017 (Saturday, 31 December 2016 to Friday 6 January 2017) was 268,323 as per Broadcast...

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/20/Sun%20TV%20%281%29.jpg?itok=PP6ytKhV
Sun TV to air Nandini on four GEC channels

Sun TV Network is set to launch its magnum opus fiction Nandini on all its four south Indian GEC channels, namely -- Sun TV, Gemini TV, Udaya TV and Surya TV from 23 January.

Television TV Channels Regional
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/20/vikas-khanchnadani%20%281%29.jpg?itok=x-8QnjSF
RBNL ex-CBO Khanchandani joins Arnab's Republic

Vikas Khanchandani former RBNL chief business officer has joined Republic as the chief executive officer. With over two decades of working across ad sales, digital, television and media technology, Khanchandani will play an integral role to grow Republic as an independent media tech company.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/20/zeel%20%281%29.jpg?itok=cqlzQ-tv
Broadcasters bat for parity with print medium under GST

The Indian Broadcasting Foundation (IBF) today urged the government to level the playing field under the proposed GST regime for “all mediums”, including electronic, radio and print, as businesses across sectors had taken a hit due to demonetisation of high value currency notes November last.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/20/alibaba.jpg?itok=l-4J-9ON
Alibaba starts Olympic run with a multi-billion $ sponsorship deal

Chinese e-commerce giant Alibaba Group yesterday started its Olympic run by signing a multi-billion dollar multi-year deal with the International Olympic Committee (IOC) to become the official `Cloud Services’ and `E-commerce Platform Services’ partner, as well as a Founding Partner of the Olympic...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/20/pesha-bajrao.jpg?itok=ciXGnCnZ
Sony Entertainment launches historical series 'Peshwa Bajirao'

MUMBAI: Sony Entertainment Television is bringing to television viewers the glorious life of India’s only undefeated warrior/commander -- Peshwa Bajirao, his unconventional ways, his principles in life, his passion and his ideologies.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/20/NP-SINGH-DANISH-KHAN-800x800.jpg?itok=X4ORURUi
Sony Entertainment TV plans to expand its early prime time to 6pm

MUMBAI: With the launch of its new offering Peshwa Bajirao, Sony Entertainment Television has entered the 7.30 pm time slot. The channel has expanded its prime time to 7.30pm, and plans to expand it further to 6pm time band in coming 12-18 months. Speaking to Indiantelevision.com, Sony Pictures...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/19/miss%20%281%29_1.jpg?itok=x_7NkjRo
Miss Universe 2016 to air on Zee Café live from Philippines

After the success of stunning events such as Miss World 2016 Live and Victoria’s Secret Fashion Show, Zee Café, the ultimate English GEC brings to its viewers yet another -global event, Miss Universe Live this January, 2017.

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/19/naagin%20%281%29.jpg?itok=dmJsHL_0
Colors leads BARC week 2 Hindi GEC (U+R) market

Naagin’s magic continued to make Colors the number one channel in Hindi GEC (U+R) even as Star Plus led the genre in the Urban Hindi GEC market. In Rural Hindi GEC market, Rishtey topped the chart again this week, according to the Broadcast Audience Research Council (BARC) all India data of week 2...

Television TV Channels Viewership

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories