Television

Sivasankaran buys 14.98 % in Sahara One for Rs 1.2 billion

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/06/15/Sahara%20One.jpg?itok=Cn6qLucU

MUMBAI: If the news and radio space swung into acquisition mode early this year, it is the other areas of media business which are now attracting investors. NRI businessman C Sivasankaran is pumping in Rs 1.2 billion to acquire 14.98 per cent stake in Sahara One Media & Entertainment Ltd.

Indiantelevision.com had earlier reported that Sivasankaran was in talks to put in around Rs 1.2 billion for a minority stake in Sahara One. Ernst & Young had valued the company at Rs 7 billion.

Sahara One will make a preferential allotment of 32,25,000 shares (of Rs 10 each) at Rs 372 per share to Aircel Televentures Ltd (Sivasankaran's company). With this divestment, the promoters will hold 73 per cent, according to a Sahara Group spokesperson.

BCCL’s (Times Group holding company Bennet Coleman & Co Ltd) stake will be less than 6 per cent and Aircel Televentures will have 14.98 per cent while the rest will be with the public.

"Aircel Televentures has recognized the potential of the movies and TV business in which Sahara One operates and agreed to invest. The funds generated through this move will be utilised in expanding our business in movie and television business," the spokesperson said.

The Sahara One board has approved the proposal of issuing the equity shares to Aircel Televentures on preferential basis. The board, which met today, has also called for an Extraordinary General Meeting of the company on 8 May. The shares will be issued subject to shareholders' approval.

Sahara is also planning to raise up to $50 million, for which it has obtained an enabling resolution. "Sivasankaran's investments will be used for expanding the business. We also plan to raise up to $50 million," a company executive said.

Sahara is launching a music channel, adding up to a bouquet of general entertainment and movie channels. Sahara Group also owns a string of news channels.

Sivsankaran's first media investment was in ETC Networks where he held 40 per cent stake. He went on diluting equity and exited from the company which was later acquired by Zee Telefilms.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/18/pv.jpg?itok=11OhTSzk
The seasonal show saga on Indian GECs

MUMBAI: Daily soap operas, with an infinite number of episodes, is the unique feature of India’s TV entertainment offering. From the era of a single national broadcaster to today where you can pick from a plethora of general entertainment channels (GECs), times have surely changed. What is slowly...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/17/star.jpg?itok=XqQ1JaZk
Star ushers in IPL's new era with a bang

Star India is all set to reinvent the Vivo Indian Premier League (IPL) 2018 by increasing fan-engagement levels and bringing the sporting spectacle even closer to cricket fans across the country. The broadcaster’s press conference in Delhi today started with Sophia, a robot, in conversation with...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/17/punit.jpg?itok=QMjjRK9k
Zeel numbers up on higher ad revenue in third quarter

The Subhash Chandra led Indian television network Zee Entertainment Enterprises Limited reported 11.5 percent and 28.3 percent increase in consolidated total revenue and profit after tax (PAT) respectively for the quarter ended 31 December 2017 (Q3-18, quarter under review) as compared to the...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/17/baba_0.jpg?itok=4dsXrFZQ
Ramdev wants telecast fees waived off for devotional channels

Baba Ramdev today took a shot at the government for imposing high tax on telecasting devotional TV channels.

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/16/tumbin.jpg?itok=BK_vfhpI
Be privy to a traditional ode to eternal love and longing with 'Tum Bin 2' on Sony MAX

Sony MAX, the leading Hindi movies channel from Sony Pictures Networks will be whipping up romance this January as it brings the sequel of the 2001 hit movie, ‘Tum Bin 2’ on 19th January at 8pm.

Television TV Channels Movie Channels
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/16/irra.jpg?itok=HbcXocFG
IRAA Awards Now accepting nominations

In its 12th consecutive year, the Indian Recording Arts Academy Awards (IRAA) 2018 will be hosted alongside the PALM Expo 2018 at the Bombay Exhibition Centre. The awards will once again recognize exceptional skills in music, soundtrack recording and mixing in Indian music for albums and movies.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/16/network18a_2.jpg?itok=UB6MjyrR
Network 18 PAT at Rs 114 million

Network18 Media & Investments (Network18) reported a marked improvement in its numbers for the quarter ended 31 December 2017. The consolidated revenue (net of revenue from joint ventures and associates) for the company declined marginally by 1.8 per cent year-on-year (yoy) to Rs 3660 million...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/16/bbc.jpg?itok=D-KQbcCd
Get Intriguing Insights into the human mind with 'Meet the Humans' on Sony BBC Earth

If you think human behavior is predictable, think again. In ‘Meet the Humans’, a show on Sony BBC Earth, starting January 22, at 8pm, a trio of experts led by Dr. Michael Mosely take a microscopic look at the human behavior and discover how incredibly unpredictable and complex humans are.

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/16/tv18.jpg?itok=9obzztU8
TV18 profits decline in third quarter

TV18 Broadcast Ltd (TV18), the subsidiary of the Mukesh Dhirubhai Ambani-controlled Network18 Media and Investments Ltd (Network 18), reported consolidated total income of Rs 10 crore for the quarter ended 31 December 2017 (Q3-18) as compared with income of Rs 23.6 crore for the corresponding year...

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories