TV18's holding company to offer 10% equity to public

MUMBAI: Television Eighteen India Ltd's proposed holding company, TV18 Network Ltd, plans to issue fresh shares to the public amounting to about 10 per cent of its equity base.

In the holding company, the existing shareholders of Television Eighteen India will have a 39 per cent stake. Promoter Raghav Bahl will hold 51 per cent stake. "The restructuring is done in such a way that there will be no value loss for the existing TV Eighteen shareholders," says CNBC-TV Eighteen CEO Haresh Chawla

The existing Television Eighteen shareholders will be protected as they will hold 74 per cent stake in iBN, the venture that will launch general news channels, and 100 per cent stake in Awaaz, the Hindi consumer business news channel. In iBN, Television Eighteen's holding will be 23 per cent while Rajdeep Sardesai and the professional shareholders will have 26 per cent. The holding company TV18 Network LTD will have the balance 51 per cent.

In the first phase of the restructuring, Awaaz will be merged with Television Eighteen. This company is already holding CNBC-TV18, the English business news channel, and portals and TV18 Network, the second listed holding company, will have a 51 per cent plus stake in Television Eighteen and iBN. Hitherto, Awaaz and the proposed general news English channel were held in promoter entities and were legally not part of the listed Television Eighteen, due to government restrictions.

The restructuring will enable TV18 to comply with the uplinking guidelines of the government. The key pivot for the restructuring plan is that the dominant Indian shareholder must own 51 per cent. TV18 was non compliant and hence would not have got necessary licences to operate the business; its current licence on CNBC-TV18 was also under government's scanner.

Two options were considered for restructuring. The first option meant merging the businesses without cancelling any promoter shareholding. Promoter would park shares (25 per cent) in a Trust for TV18 shareholders. But the company opted for the other option: the promoter would move stake to the holding company and list it; TV18 shareholder would get fungible stake in the holding company. There would, thus, be no effective dilution for TV18 shareholders.

TV18 has opted for creation of two listed entities. Bahl will act as the dominant shareholder. The restructuring process will involve consolidation of TV18's media businesses and creation of a group structure. This will be achieved through a High Court process whereby the TV18 shareholder will automatically be allotted shares proportionately in the two entities and will have a legal holding in both Awaaz and the proposed general news English channel, apart from the shareholding in the existing listed company.

Latest Reads
Know your karma on IBN7 with 'Karm Path'

In an attempt to give its viewers a refreshing start of the day, IBN7 is launching a new show titled Karm Path. Starting 27 October, the show will predict what the day holds. The show is a differentiator in its own genre as it connotes the supremacy of deeds over destiny.

Television TV Channels News Broadcasting
Big Ganga available on Tata Sky now

Big Ganga has strengthened its distribution with DTH service provider Tata Sky.

Television TV Channels Regional
TV is story-teller's new novel; audience is Bharat, not India: Star's Banerjee

MUMBAI: Since five to six years, television has become the talking point. Th series such as 'Breaking Bad' to Transparent to Narcos to 'Game of Thrones' to 24, and now POW (Prisoners of Wars) has changed the experience of television viewing.

Television TV Channels GECs
Star World to air 1-5 of 'Homeland'

Star World and Star World HD is all geared up to air the pulse-pounding action series 'Homeland.' The show tackles geopolitical moral conundrums of our current world. It has recently unveiled the teaser for the upcoming season 6 shows how Carrie Mathison will circumvent around another international...

Television TV Channels English Entertainment
Share all World Cup, T-20 feeds with Prasar Bharati, rights holder told

The telecast of all official one-day and Twenty-20 matches played by the Indian Men’s Cricket Team will henceforth have to be shared by the rights holder with the public broadcaster Prasar Bharati under the Sports Broadcasting Signals (Mandatory Sharing with Prasar Bharati) Act 2007.

Television TV Channels Terrestrial
Saregama returns to film music acquisition with Pen pact

Saregama India has inked a two-movie deal with Pen Movies. With this agreement, Saregama has acquired the music rights of upcoming Bollywood releases of Pen which includes Kahaani 2 -- Durga Rani Singh, featuring Vidya Balan and Arjun Rampal.Kahaani 2 is slated for a release on 2 December.

Television TV Channels Music and Youth
Q2-17: Zeel numbers, PAT up on higher Ad and Subscription revenue

The Subhash Chandra led content and broadcast player Zee Entertainment Enterprises Limited (Zeel) reported a 23 per cent hike in consolidated revenue for the quarter ended 30 September 2016 (Q2-17, current quarter) as compared to the corresponding quarter of the previous year.

Television TV Channels GECs
Best Deal TV appoints Hari Trivedi as COO

MUMBAI: Best Deal TV has appointed Hari Trivedi as the chief operating officer with immediate effect. Based in Mumbai, Trivedi will be responsible for overall sales and marketing. He would also be initializing lowest price offers and deals on Best Deal TV.

Television TV Channels People
Disney announces successor of MD Siddharth Roy-Kapur

MUMBAI: Walt Disney International has announced the successor to its former managing director Siddharth Roy-Kapur. As a second stint with the organization, Mahesh Samat has made a comeback and will lead The Walt Disney Company India as the managing director. He will pursue his new responsibility...

Television TV Channels People

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories