Television

Zee fixes share swap ratio for Dish TV

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/06/11/Zee%20Entertainment%20Enterprises%20Ltd.jpg?itok=Z_N3m2q6

MUMBAI: Zee Telefilms Ltd. (ZTL) today said its shareholders will get 23 shares of ASC Enterprises Ltd (ASCE) for every 10 shares held.

The ZTL board has also approved a demerger scheme for spinning off its direct consumer business into ASCE, a company promoted by Subhash Chandra's Essel Group for direct-to-home (DTH) business. Siticable (without its cable business) and its wholly owned subsidiary New Era Entertainment Network Ltd. (NEENL) will merge with ASCE, integrating all DishTV operations under this company.

In the first stage, Siticable will, thus, hive off its cable TV business into Wire and Wireless India Ltd (WWIL). The residual Siticable and NEENL, which handles marketing and distribution of the DTH business, will then merge with ASCE.

The paid-up equity capital of ASCE will increase to Rs 1.66 billion after merger, up from the current base of around Rs 411 million. The company plans to bring back the capital base to the pre-merger level by cancelling three of every four shares held in ASCE. "As a result of the merger, ASCE's capital base will get bloated. We want to compress the base," said Essel Group CEO, corporate strategy and finance. Rajiv Garg.

The share exchange ratio is based on the recommendation of independent valuers M/s Deloitte Haskin & Sells.
ZTL shareholders will receive shares on a proportionate basis in ASCE as consideration. As per the independent valuation, ZTL shareholders will get 230 shares of ASCE of Re 1 each for every 100 shares in ZTL. This would result in a 57 per cent shareholding in ASCE for the shareholders of ZTL," the company said in a release. The appointed date for the Scheme of Arrangement will be with retrospective effect from 1 April.

The scheme of arrangement will require approval of the Stock Exchange, shareholders and creditors of Zee and from Bombay High Court. ASCEL will be listed on all stock exchanges where ZTL is listed, the release added

Commenting on the board's decision to hive off Zee's direct consumer business, ZTL chairman Subhash Chandra said, "All Dish TV operations would now be under a single corporate entity, bringing strategic clarity to this high growth business. This shall complete the restructuring agenda we had set for ourselves to create four focused, pure play, listed companies ready to exploit the vast emerging opportunities in each line of business. Subject to necessary approvals, this would result in streamlined operations in each area to build long-term shareholder value. It would also clear the ground for acquisitions and strategic or financial partners in the de-merged businesses, apart from unlocking shareholder value."

Zee has sent an application to the Stock Exchange on the restructuring plans for the news, content and cable business. "An application will soon be made to the High Court," the release said.

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