iWorld

Balaji Telefilms denies specific intent to sale of stake in digital business to global firm

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/internet-images/2015/11/28/TV-production-fiction.jpg?itok=IKIUXe4z

BENGALURU: Balaji Telefilms Limited has denied any specific intention of selling a stake in its digital business to a global firm  in a response filed at the bourses. The Stock Exchange had asked for a clarification from Balaji Telefilms about a report published in the Economic Times that said the Balaji Telefilms was in talks with a global firm to sell a 20 percent stake, and the deal valued Balaji’s digital business at Rs 1,900 crore.

In its response, Balaji Telefilm said that the company, during its normal course of business, keeps exploring various opportunities to enhance shareholder value, including fund raising opportunities. There are, however, no specific discussions/negotiations by the company regarding sale of its stake in the digital business subsidiary. The response says that Balaji Telefilms was cognizant of its regulatory responsibilities and would keep the Stock Exchanges informed in case of any specific developments.

The response further said that Balaji Telefilms was working towards getting the necessary approval(s) from its shareholders in the matter which was already informed to the Stock Exchanges in its Outcome of Board Meeting  letter date November 9, 2015, stating that the Board of Directors of the Company in its meeting held on November 9, 2015, had approved to raise funds not exceeding Rs 250 crore by way of QIP/GDR/ADR/FCCB/other securities linked to equity/preference shares/any security or instrument representing convertible securities and to increase the authorised share capital of the company  from Rs 20 crore to Rs 26 crore, subject to approval of shareholders.

Balaji Telefilm said that it had no comment to offer on the price movement mentioned by the Stock Exchange letter, as this was a function of the market.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/17/sonyliv.jpg?itok=6A03BZGt
SonyLIV and Amazon Pay partner to offer a convenient and easy digital payment option for viewers

MUMBAI: In its efforts to make payment getaways more convenient for consumers, SonyLIV, India’s first premium video on demand (VOD) platform, has partnered with Amazon Pay, adding another secure payment option on its platform. While the service is already available for the subscribers, the cashback...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/17/BYTEDANCE.jpg?itok=gD7U6pO7
ByteDance plans to invest in Indian content startups

MUMBAI: ByteDance, the parent company of popular video sharing app TikTok, has plans to delve deeper into the Indian content market. In order to create a bouquet of apps to target new audiences, the Chinese company will invest in Indian content startups. As per a Mint report, ByteDance has set up a...

iWorld Social Media
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/17/hotstar.jpg?itok=clTTF8yi
Real-life drama series ‘The Loudest Voice’ launches on Hotstar Premium

MUMBAI: Based on a book by Gabriel Sherman, ‘The Loudest Voice’ is a seven-part limited series that brings forth events around the life of Roger Ailes, the former CEO of Fox News. Focusing primarily on the past decade, the series touches on defining moments in Ailes' life, including his experiences...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/17/netflix.jpg?itok=fRaUc0Eu
Jio GigaFiber drops to third position in Netflix ISP Speed Index ranking for June 2019

Reliance led broadband service Jio GigaFiber has dropped to third position as per Netflix ISP Speed Index rankings of June 2019 in India. Earlier it had a speed of 3.53 Mbps which has now dropped to 3.49 Mbps. 7 Star Digital has been ranked as the fastest broadband service in the country with 3.54...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/17/sam.jpg?itok=vcjkSWfk
Hotstar dominates OTT reach statistics

Star India-led Hotstar is the chart leader of the Indian OTT market. According to a report by Install metrics, Hotstar has the highest market share of 45.88 per cent as of March 2019. According to another report by Data Intelligence & Management Platform KalaGato, Hotstar leads the reach market...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/16/yogesh.jpg?itok=HWndD4D4
ZEE5 appoints Yogesh Manwani as head, news & stories

MUMBAI: ZEE5, India’s fastest growing OTT platform has appointedMr. YogeshManwani as Head, News & Stories. Commenting on the new appointment,Taranjeet Singh,Chief Revenue Officer and Business Head, New Projects, ZEE5 Indiasaid, “News is a dynamic space which is constantly changing and evolving....

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/16/zee5.jpg?itok=3XQot8dz
ZEE5 announces pyschological thriller ‘Posham Pa’

MUMBAI: ZEE5, India’s fastest growing OTT platform announces ‘Posham Pa’, a psychological thriller starring actress Mahie Gill, Sayani Gupta and Ragini Khanna in a never seen before avatar. Directed by national award-winning filmmaker Suman Mukhopadhyay, written by Nimisha Misra and produced by Ten...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/16/netflix.jpg?itok=SUVvqB1G
Netflix announces five new original series across a variety of genres

MUMBAI: Netflix today announced five new original series across a variety of genres including Young Adult, drama, thriller, horror and comedy. With deadly zombies, scary gangsters and daring friends, these incredibly diverse Indian stories are for mainstream audiences in India and around the world. 

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/07/15/jio.jpg?itok=iqSCblTi
Jio furthers its commitment to reduce gender gap in digital adoption

MUMBAI: Jio, the world’s largest mobile data network, has today announced that it has partnered with GSMA’s Connected Women Initiative to bridge the gender gap in digital adoption and digital literacy among women in India. Jio and GSMA will work towards empowering more women with increased access...

iWorld e-commerce

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories