MUMBAI: Raghav Bahl-promoted TV18 Group has offered Viacom to buy the remaining 50 per cent stake in ETV?s general entertainment channels (GECs) as part of the plan to broaden its joint venture partnership with the global media giant.

Viacom is conducting a due diligence of the ETV assets before it decides to participate in TV18?s regional-language entertainment ambitions. Early last year, TV18 inked a deal to acquire 50 per cent stake in ETV?s Marathi, Bangla, Kannada, Gujarati and Oriya entertainment channels, along with the option of picking up the balance 50 per cent interest. It also has 24.5 per cent stake in ETV Telugu and can add a similar equity interest in the Telugu GEC.

?Viacom has the option to acquire stake in ETV?s entertainment channels. They are looking at it,? Viacom18 Group chief executive officer Sudhanshu Vats tells Indiantelevision.com.

After getting Viacom?s equity participation, the ETV GECs will get housed under Viacom18. The new owners will, thus, get full ownership of the five ETV GECs (ETV Marathi, ETV Bangla, ETV Kannada, ETV Gujarati and ETV Oriya) while half of ETV Telugu?s equity will get transferred.

Viacom18 is an equal joint venture between TV18 Broadcast and Viacom. The company owns and operates a clutch of channels including Colors, MTV, Vh1, Nick, Comedy Central, Sonic and Nick Jr. It also runs a film production business through Viacom18 Motion Pictures.

In a deal valued at Rs 21 billion, TV18 Group agreed to also acquire 100 per cent stake in ETV?s five news channels ? ETV Uttar Pradesh, ETV Madhya Pradesh, ETV Rajasthan, ETV Bihar and ETV Urdu. Besides, it will have 24.5 per cent stake in ETV Telugu News.

 
Viacom will not be part of the news venture of TV18.

"We are poised for strong growth across all our broadcast and film production businesses. Digitisation will help us drive subscription revenue growth while bringing carriage fees down. Regional-language channels will also form an important pillar of growth once we integrate the ETV channels," says Vats.

In FY12, Viacom18 posted operating revenue of Rs 15.69 billion. The financial figures obviously did not include the ETV channels.

MUMBAI: US media conglomerate Viacom?s revenues for the first quarter ended 31 December 2012 have fallen by 16 per cent to $3.3 billion from $3.9 billion in the same period last year. The reason was lower revenues from the film division as a result of the schedule of releases.

Operating income and adjusted net earnings from continuing operations attributable to Viacom declined by 22 per cent to $797 million and $461 million, respectively, reflecting lower film results and a decline in Media Networks ad revenues, partially offset by increased affiliate revenues. Adjusted diluted earnings per share from continuing operations decreased by 14 per cent to $0.91 per diluted share.

Media Networks revenues decreased by two per cent to $2.39 billion. Domestic and worldwide ad revenues each decreased by six per cent. The decline in domestic ad revenues was driven by lower ratings. Domestic affiliate revenues increased by four per cent. Excluding the impact of digital distribution arrangements, which are affected by the timing of available programming, the domestic affiliate revenue growth rate was in the low-double digits. Worldwide affiliate fees increased by three per cent.

Filmed Entertainment revenues were down by 37 per cent to $975 million. Worldwide theatrical revenues decreased by 42 per cent in the quarter to $328 million, principally reflecting the difficult comparison against the prior year release of ?Mission: Impossible - Ghost Protocol?, as well as the year over year comparison of revenue from third-party theatrical releases. Worldwide home entertainment revenues declined 43%, principally resulting from fewer releases in the quarter compared to the first quarter of 2012. The decline in home entertainment revenues also reflects lower carryover revenues from the prior period release of ?Transformers: Dark of the Moon?. Television license fees decreased by 24 per cent to $227 million in the quarter.

Viacom executive chairman Sumner M. Redstone said, "Viacom continues to build on its impressive global portfolio of movies, television programming and digital content. Philippe leads a talented executive and creative team at Viacom, and I am fully confident that by investing in new hits we will continue to build our outstanding brands and deliver strong value to shareholders."

Viacom president, CEO Philippe Dauman said, "Throughout the quarter, we kept our focus on creative excellence and strategic programming investment. Our ongoing investments in programming continue to produce results, with positive ratings trends and growing consumer engagement in new hit content, despite difficult short-term comparisons based on the mix of film releases and the lingering effect of ratings softness last year. Our television brands continue to be highly valued by distribution partners, highlighted by our double digit organic affiliate revenue growth. Paramount is well positioned for the future, with several upcoming tentpole releases, including G.I. Joe: Retaliation, Pain & Gain, Star Trek Into Darkness and World War Z. In addition, we are working closely with existing distribution partners and new digital distributors to continue to launch robust and consumer-friendly content experiences.

"Viacom?s ability to generate significant cash flow permits us to continuously invest in our businesses and deliver value directly to shareholders through our share repurchase and dividend programs. Viacom?s strong balance sheet has provided the flexibility to tap the financing markets and lower our average cost of debt."

MUMBAI: Wade Davis has been appointed as chief financial officer (CFO) of US media conglomerate Viacom. The announcement was made by Viacom COO Thomas E. Dooley.

Davis previously served as Viacom executive VP, Strategy and Corporate Development. He succeeds Jimmy Barge, who, after a transition period with Davis, will leave the company to pursue other opportunities.

Davis will be responsible for the company?s accounting and financial reporting, planning, tax and treasury functions. He will also continue to oversee the strategy and corporate development functions across Viacom.

Dooley said, "This is a well-deserved promotion for Wade, who has made so many contributions to the growth and success of Viacom. We are fortunate to have such a multi-talented executive in our ranks with the leadership skills and the depth of experience to move seamlessly into the CFO role.

He is respected throughout the company for his knowledge of our industry and his financial expertise. Wade has worked closely with me and with Viacom?s entire senior team on important strategic initiatives, while also leading a disciplined corporate development program that has enabled us to tap new growth areas, both domestically and around the world.

"We want to thank Jimmy for his professionalism and many years of dedicated service to Viacom, particularly his outstanding work to strengthen our financial position. His focus and expertise were greatly appreciated by me, as well as by our financial team and everyone at the company who worked closely with him. We wish Jimmy all the best as he moves on to new opportunities beyond Viacom."

Davis said, "I feel extremely fortunate to take on this new role at Viacom. This is an exciting and challenging time for our company and our industry and I am looking forward to continuing to work with Tom and Philippe Dauman, our President and CEO, to keep Viacom financially strong and out in front. Best of all, I step in on day one as CFO with a world-class financial team by my side. Having worked with them closely for many years, I know first hand the depth of their experience and the breadth of their expertise. Working together, I know that we will continue to help Viacom achieve its financial and strategic goals."

MUMBAI: The economy is the top factor impacting the Millennial generation today, with 68 76 per cent feeling personally touched by the global economic crisis. This percentage increases in Spain (86 76 per cent), Italy (85 76 per cent), and Greece (80 76 per cent). But despite significant economic concerns, the vast majority of Millennials worldwide demonstrate a strong sense of happiness and optimism.

Latin American Millennials report the highest levels of happiness, in countries like Mexico, Argentina and Brazil.

US media conglomerate Viacom and its Viacom International Media Networks (VIMN) division, have unveiled in-depth findings from its new study, "The Next Normal: An Unprecedented Look at Millennials Worldwide," which provides the first truly global portrait of this highly influential demographic.

 The findings were presented at the Monaco Media Forum by Viacom Media Networks executive VP, chief research officer Colleen Fahey Rush.

The study spans every continent and delivers insights into the attitudes, values, aspirations and perspectives of young people (ages 9-30) from 24 countries including India, Argentina, Australia, Brazil, Canada, China, France, Italy, Japan, Mexico, South Africa, the UK and the US. In total, this project included 15,000 interviews, in-depth explorations and expert contributions/commentaries.

Rush said, "?The Next Normal? is the broadest single study of the Millennial generation to date. It is a truly detailed understanding of this complex generation from all corners of the world, and is without a doubt the definitive guide to this demographic?s evolution. These insights will help inform our content and further strengthen our connections with Millennial audiences around the globe."

VIMN VP research, insights Christian Kurz said,"We have a wealth of research on how young people approach life, what they consider important and how they cope with challenging situations. This study builds on Viacom?s already significant leadership in understanding our audiences and is a perfect example of our commitment to extending this knowledge and expertise globally."

Following is a snapshot of additional key findings from the study:

*Millenials Suffer From Job Insecurity - Economic concerns have resulted in a legacy of fear around job security and doubts about upward mobility. *Unemployment outweighs world hunger as the top global issue that young people want to see solved. * Almost half of young people (49%) believe that job security will continue to get worse.
* 78 per cent would rather have a minimum wage job than no job at all. *While 38 per cent of young people in 2006 strongly agreed with the statement, "I will earn more than my parents," that percentage is down to 25% in the post-crisis era.

Amidst all these concerns, the generation finds reasons to be happy. Spending time with family is the top driver of happiness for Millennials today. Forty-five percent of all 9-30-year-olds globally say their No. 1 best friend is someone within the family.

"Thanks to the importance Millennials place on family bonds, the family unit today is closer than ever. ?The Next Normal,? based on the widest ever cross-section of Millennials, confirms that this emphasis on family is a global phenomenon," said Kurz.

Friendships, both real-life and online, are another key driver of happiness. Among Millennials, there is a trend towards smaller circles of real-life friends compared with online friends, which are skyrocketing.

Over the past six years, Millennials have maintained about the same number of best friends, but their wider circle of everyday friends is shrinking.

On the other hand, Millennials average well over 200 online friends. In the past six years, there has been a significant jump in the number of online contacts whom they consider friends, but have never actually met in person.

Technology Doesn?t Define, It Enables: Rather than defining the Millennial generation, technology is more of an enabler. If asked, a Millennial might say, "Technology doesn?t make me who I am. It lets me be who I am." Technology underpins relationships and plays an important role in sustaining happiness and broadening horizons.
? Three quarters of Millennials believe social media has a beneficial
effect on relationships with friends.
? 73 per cent of Millennials say access to the Internet changes the
way they think about the world.
Pride And Tolerance: Millennials are displaying a growing sense of
national pride and interest in maintaining local traditions. At the
same time, they have an increasingly open and tolerant view of other
countries and cultures.
? 83 per cent agree "I?m proud to be [X] nationality," up from 77 per
cent in 2006.
? 76 per cent agree that it?s important to maintain their country?s
traditions, up from 68 per cent in 2006.
? 73 per cent think it?s great to have people from other countries
coming to live in their respective home country, up from 51% in 2006.
? 86 per cent describe themselves as tolerant.
? 84 per cent agree "my age group has the potential to change the
world for the better."

"A key priority for VIMN is to provide its audiences around the world with ?glocal? content --programming that strikes the right balance between global and local themes. Our findings from ?The Next Normal? indicate a truly positive display of ?glocalisation? in action among Millennials at an even deeper level," continued Kurz.

The Next Normal: ?We" Versus "Me"

This study indicates that ?The Next Normal? is much more ?we? than ?me?. Key defining traits for the Millennial generation include a sense of global community, newfound tolerance and flexibility, increased creativity and a powerful desire to share and connect.

? 87 per cent are actively curious about the world.
? 87 per cent apply the phrase "sharing and connecting" to themselves.
? 85 per cent describe themselves as able to adapt quickly to change.
? 93 per cent globally believe it?s our responsibility to treat all
people with respect, regardless of race, gender, religion, political viewpoint or sexual orientation.