Sahara to transfer broadcasting operations to listed firm

MUMBAI: Sahara Group will be transferring the broadcast operations of its entertainment channels to the listed company, Sahara One Media & Entertainment.

This is part of the commitment made to C Sivasankaran and BCCL (Times Group holding company Bennet Coleman & Co Ltd) when they acquired stakes in Sahara One Media & Entertainment last year, a source familiar with the deal says. While Sivasankaran's Aircel Televentures (later renamed Siva Ventures) picked up 14.98 per cent for Rs 1.2 billion, BCCL acquired close to 6 per cent stake in the company.

The broadcast operations are currently under Sahara India TV Network, a division of Sahara India Commercial Corporation Ltd. "The plan is for the listed company to also have the broadcast operations under it," says the source.

The transfer will mean that Sahara One Media & Entertainment will be able to capture the advertising revenues from the two existing channels, Sahara One and Filmy. The company currently earns from the programming it licenses to Sahara India TV Network and from its motion pictures business.

"Sahara One will be able to capture the full part of the value chain. The entire infrastructure will be under one company," says the source.

The cost of running the channels including transponders and carriage fee will, thus, come under Sahara One Media & Entertainment. But there would be no transfer of the assets and liabilities of Sahara India TV Network. "The idea is to start with a clean slate and then build the broadcasting value," says the source. "Under the current system, Sahara One does not run any commercial risk in the TV business as it produces content and passes it on to the channel on a cost-plus-commission basis," he adds.

Sahara's news channel business also has a separate broadcasting arm and is under Sahara India TV Network (2). Sahara runs six news channels - in the national, regional and city-centric space.

Meanwhile, the Sahara One Media & Entertainment board has approved raising of resources up to $ 20 million through foreign currency convertible bonds (FCCBs).

"This will be used to meet the company's working capital and content acquisition requirements," says the source. Earlier, Sahara One had planned to come up with a provision to raise up to $50 million as it was at that stage in talks to acquire an equity in Ten Sports. Later Zee Group bought a 50 per cent stake in the sports channel for $57 million.

Latest Reads
Zee Telugu announces the comeback of its iconic singing reality show, Sa Re Ga Ma Pa

MUMBAI: With a firm commitment to present fresh and novel content to Telugu viewers, Zee Telugu, leading Telugu General Entertainment Channel in Andhra Pradesh and Telangana, announces the comeback of its most popular music reality show – Sa Re Ga Ma Pa. In search of the best singing talent there...

Television TV Channels Regional
Rishtey enters urban GECs list, dethrones &TV in BARC week 11

Zee Anmol emerged as the leader pushing down Star Bharat to the second position in the Hindi GEC (U+R) region according to Broadcast Audience Research Council (BARC) all India data for week 11 of 2018.

Television TV Channels Viewership
BCCI extends India media rights submission till 3 April

The Board of Control for Cricket in India (BCCI) has extended its last date for submission of bids for the media rights for international and domestic matches at home for the next five years from 27 March to 3 April.

Television TV Channels Sports

Mumbai, 21 March, 2018: News18 REEL Movie Awards, a marquee property with Reliance Digital as the presenting sponsor, celebrated new age cinema like never before in presence of renowned artists, film-makers and producers at the Taj Lands End in Mumbai, yesterday. Personalities such as...

Television TV Shows Awards
Sony MAX2 is back with Season 3 of 'Timeless Digital Awards'

Sony MAX2 ‘Timeless Digital Awards’ is back with its 3rd season to delight its audience with an era of Hindi cinema that is evergreen and holds reminiscence till date. The ‘Sadabahar’ 50’s and 60’s gave birth to several inspiring masterpieces with legendary actors and films that became the voice...

Television TV Channels Movie Channels
The Boss Baby premieres March 25 at 1PM and 9PM

Staying true to the promise to premiere the biggest blockbusters of the year, Star Movies will air Academy Award nominated film, The Boss Baby on Sunday, March 25 at 1PM and 9 PM respectively. Starring the witty Alec Baldwin as Boss Baby along with popular host Jimmy Kimmel as Ted Timothy...

Television TV Channels English Entertainment
Bigg Boss speaks Marathi now

MUMBAI: The Bigg Boss voice is all set to boom in Marathi. Viacom18’s regional entertainment channel, Colors Marathi announced the launch of the Marathi version of India’s popular reality TV show Bigg Boss from 15 April.

Television TV Channels Regional
BARC gets ‘Great Place to Work' certification

MUMBAI: BARC India has been certified as ‘Great Place to Work’ for cultivating a culture of high trust and performance. The certification has been provided by Great Place to Work Institute, which is recognised for its rigorous and objective methodology for identifying and defining great workplaces...

Television TV Channels Viewership
Shemaroo appoints Hiren Gada as CEO in leadership rejig

MUMBAI: Gearing itself for the next phase of growth, Shemaroo Entertainment Ltd (Shemaroo) has restructured its top leadership making several timely appointments.  According to a release on the BSE website, the entertainment and content company has elevated Hiren Gada as the chief executive...

Television TV Channels People

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories