Television

UTV buys Indiagames, Ignition Entertainment for Rs 1.28 billion

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/06/06/utv.jpg?itok=jgIM2uJb

MUMBAI: UTV Software Communications Ltd. is making a foray into gaming by acquiring controlling stakes in UK-based Ignition Entertainment and Indiagames for a total for Rs 1.28 billion.

While UTV will pay Indiagames, a mobile and broadband gaming company, Rs 680 million, the acquisition of 70 per cent in Ignition Entertainment will cost Rs 600 million. Ignition Entertainment is a console gaming company with an annual revenue of around $15 million.

"We presently create, develop and aggregate content for TV, movies and animation. With an objective to create content across all entertainment platforms, the company has ventured into gaming. This will give us exposure to the rapidly growing mobile, PC and console gaming industry," UTV said in a release.

Indiagames CEO and founder Vishal Gondal will continue to head the company and evolve synergies with other UTV businesses in the creation of cutting-edge games. The company reported annual revenues of around $5 million for the last fiscal and has an employee strength of 270 people. "Post transaction the shareholders of the company will include Cisco Systems, Adobe Inc. and Management. IG is presently involved with mobile game development, publishing and distribution across 67 countries through 80 telecom partners like Vodafone, Verizon, Hutch and Airtel. Its latest venture into PC games distributed online through broadband ISPs like BSNL, MTNL, Airtel and Tata VSNL amongst others is expected to be a major value driver," the release said.

The acquisition of Ignition Entertainment will bring to the table relationships with hardware manufacturers, game developers and distributors such as Sony, Nintendo, Microsoft, SNK, Konami, Atari, Virgin and Wal Mart. "Ignition is presently developing a top end game 'WarDevil' budgeted at around 10 million pounds and is expected to release it in the year 2008 exclusively on the Sony Playstation3(tm) (PS3) platform. PS3 was launched in November 2006 in Japan and the US and it is expected to sell more than 30 million units by the end of 2008," UTV said.

UTV plans to invest Rs 1.35 billion in the development of animation movies over the next three years. "Simi Nallaseth, one of the key animators of the international smash-hit animation movie Ice Age is developing one of the productions. Arnab Chaudhury, former Head of Channel [V] and Creative Director of Turner International (Asia), will be working on another project. We are now in the scripting stage of our CG animation production with Will Smith's Overbrook," UTV said.

UTV's scrip, however, fell 4.83 per cent on the BSE, closing the day at Rs 263.95.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/18/zindgi%20%281%29_0.jpg?itok=D5hGcSQt
Zee signs four TV-series deal with Eccho Rights

Zee Entertainment Enterprises Ltd. (ZEEL) has signed a deal for four blockbuster television series with the international content distributor, Eccho Rights.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/18/shantanu%20%281%29.jpg?itok=amxTjuly
Shantanu Gangane leaves Times for Vuclip; will report to Vishal Maheshwari

Times Network’s Shantanu Gangane has resigned as the head of marketing and joined Vuclip as the CMO India. Gangane served his last day on 13 January in Times Network where he was heading the marketing of Times Now, ET Now and Zoom.

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/18/WION%20%281%29.jpg?itok=RBo0kW2A
Zee Media's WION opts for Dalet unified news solution

Computing and creative technologies aid workflow, storage and infrastructure solutions for all aspects of the media and content creation industry. IT solutions providers help with latest computing, networking, media hardware and software to provide the best output.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/18/zee%20%281%29.jpg?itok=TkZwl1B7
Zee TV launches it's first fiction show of 2017

Zee TV’s first fiction offering of 2017 - ‘Woh … Apna Sa’ is a unique concept that questions prevalent mindsets, pre-conceived notions and the over-generalizations that surround the institution of marriage, love and the eternal quest of finding one’s true soulmate.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/17/Bomanbridge.jpg?itok=-F0FYgM0
CNN, EBS & Discovery buy factual programmes from Bomanbridge

MUMBAI: Bomanbridge Media, a Singapore-based content distribution and production agency , has announced sale of several significant factual programmes in the Asian region, including deals with Discovery Asia, EBS South Korea, and CNN Southeast Asia.

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/17/GRB%20Entertainment-800x800.jpg?itok=Ts-XG-1q
Discovery acquires 'Untold Stories' & 'Cleveland Hustles' from GRB

MUMBAI: GRB Entertainment has announced sale to Discovery of their Latin America and US Hispanic channels. Both picked up several seasons of long-running GRB-produced medical show Untold Stories of the E.R. and Discovery Latin America acquired the new LeBron James series, Cleveland Hustles. Untold...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/17/DD2-800x800.jpg?itok=rlKSJPwO
N-E programmes can be submitted for DD Arunprabha till 31 Jan

NEW DELHI: Doordarshan has extended to the end of this month the final date for receiving proposals for commissioned programmes in seven different categories for its new DD Arunprabha channel being launched for north-eastern states. The proposals, which were to be submitted by 17 January 2017, can...

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/17/Supriya-Sahu-800x800.jpg?itok=Me0jGeSi
DD to offer 104 channels & MPEG-4 STBs by Mar-end

MUMBAI: Doordarshan is preparing to offer 104 channels by March-end, the pubcaster's director-general Supriya Sahu has said. Also, with the aim of expanding its DTH platform, Doordarshan is actively considering coming out with new set-top boxes having MPEG-4 technology. 'FreeDish', at present, she...

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/01/17/SONY-Story.jpg?itok=d10I7RwD
Sony targets 9m HD subs & diaspora with youth-focused Rox in Dolby quality

Sony Pictures Network India (SPN) has launched its second channel in music genre. The group has strengthened its position in the Hindi music space bringing in Sony Rox HD, a youth-focused contemporary Hindi music high-definition channel.

Television TV Channels Music and Youth

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories