Sahara in Rs 1.5 billion expansion plan; to bid for Abu Dhabi series

MUMBAI: Sahara One Media and Entertainment Ltd is planning to raise Rs 1.5 billion to meet its expansion plans. The company is also likely to bid for the cricket telecast rights for the two-match India-Pakistan Friendship Series to be held in Abu Dhabi.

The board of directors will meet tomorrow (5 April) to decide on these issues. "Sahara One is looking at getting an enabling clause to raise Rs 1.5 billion. Among other things on the agenda is the approval to bid for the cricket rights," said a source close to the company.

Sahara's media and entertainment business has been valued by Ernst & Young at Rs 7 billion, sources said. The company had appointed the consulting firm to conduct the valuation exercise.

Sahara One Media and Entertainment is in talks to rope in investors. Recently, Bennett, Coleman & Company Ltd (publishers of Times of India and the Group is 74 per cent stakeholder in Times Now news channel) picked up six per cent stake for Rs 378 million in the company ( was the first to report that Bennett, Coleman would buy stake in Sahara One).

NRI businessman C Sivasankaran is in talks to put in around Rs 1.2 billion for a minority stake into Sahara One. "He is sitting on the fence," said the source. Having sold Aircel for $1.08 billion to Malaysia's Maxis Communications, he is flush with funds. His 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.

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.

Sahara has already experimented with cricket telecast of the India-England series on its Hindi general entertainment channel. Using the event, Sahara One has encrypted and expanded the reach of the channel.

For the Indo-Pak Friendship Series, the contract for ground rights has been bagged by PDM International, a Percept Holdings company, from the Board of Control for Cricket in India (BCCI) with a bid of $ 3.61 million. Incidentally, Percept has a management contract to handle Sahara's entertainment business.

Latest Reads

Launched on November 19, 2014, EPIC celebrates the completion of four years on air, in which it has set aspirational benchmarks for Indian TV content.

Television TV Channels Music and Youth
Celebrating 100 years of Bengali cinema, Viacom18 and Film Heritage Foundation bring the 4th Film Preservation & Restoration Workshop to Kolkata

In line with the centenary celebration of the Bengali Film Industry, and with a purpose to encourage and give an impetus to film preservation and restoration, the 4th edition of Film Preservation & Restoration Workshop India (FPRWI) 2018 was today inaugurated at Kolkata’s Rabindra Sadan.

Television TV Channels News Broadcasting
Vimal Elaichi Pan Masala enters top 5 most advertised brands in BARC week 45

The Broadcast Audience Research Council (BARC) India has released its data for top advertisers and brands between 27 October-02 November 2018. The data is a reflection of top 10 advertiser and brands across genre on Indian television (U+R) : 2+ Individuals. The data demonstrates ads that were...

Television TV Channels Viewership
Zee Anmol back on top of Hindi channels across genres

Zee Entertainment Enterprises Ltd's (Zeel) free to air (FTA) Hindi GEC Zee Anmol was back to second rank in Broadcast Audience Research Council of India’s (BARC) weekly list of top 10 channels across genres in week 45 of 2018 (Saturday, 3 November 2018 to Friday, 9 November 2018, week under review...

Television TV Channels Viewership
MNX to premiere supernatural fright flick, ‘Wish Upon’

MNX, the preferred movie channel of the millennials, will premiere, American supernatural horror film, ‘Wish Upon’ for the first time on Indian television.

Television TV Channels English Entertainment
Hill+Knowlton Strategies India wins communication mandate for Discovery India

After a competitive multi-agency pitch, Hill+Knowlton Strategies, one of India’s premier communications consultancies

Television TV Channels English Entertainment
Doordarshan now wants all matches of men’s hockey WC

Even as TV sports channels are wracking their brains as part of a public consultation to justify why proposed tweaking of rules relating to mandatory sharing of signals of sporting events is not a good idea, the Indian government has gone ahead to notify hockey World Cup for sharing with the...

Television TV Channels Sports
Balaji Telefilms reports higher programming hours and better realisation

The Ektaa Kapoor-led Balaji Telefilms Ltd reported a consolidated profit from continuing operations of Rs 7.1 crore for the quarter ended 30 September 2018 (Q2 2019, quarter or period under review) as compared to a loss of Rs 22 crore for Q2 2018 and a loss of Rs 0.6 crore in the immediate trailing...

Television Production House Post Production
3rd Sahitya Aaj Tak India’s largest Hindi Literature Festival promises a grander & a bigger show

Aaj Tak, India’s No. 1 Hindi news channel with over 25 crore viewers (Source: BARC, TG:2+,Mkt:HSM, Period: W29'18-W32'18,) kicks-off the third edition of its annual mega Hindi literature festival - Sahitya AajTak .

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories