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SAHARA TV: LAUNCH PAINS CONTINUE
The takeover of TV Mauritius (TVM),
the operator of general entertainment channel, Home
TV, by the Uttar Pradesh-based Sahara group has run
into problems. Subsequently, this will also delay the
renaming and relaunching of the channel as Sahara TV.
The Sahara group is controlled by Subroto Roy and family.
Says one of the Roy brothers: "The
problem is in the restructuring of TVM and in the relinquishment
of the foreign partners part of their shareholding in
favour of the Sahara group which would give us a majority
stakeholding."
He pointed out that in principle it
has all been agreed upon, but in reality things have
not yet been finetuned. "This will delay the relaunch
of the channel beyond October," he added.
According to the agreement signed
in 1998, the UK-based Carlton Communications and Pearson
plc, each holding 15% equity, had decided to discontinue
their association with Home TV. Hong Kong's TVB and
merchant banker Schroeders had also agreed to reduce
their stakes. The Hindustan Times Group would continue
holding its 30% stake.
Sahara group senior executive, Amit
Dev said earlier plans included relaunching Home TV
as Sahara TV in February 1999 and before that in September
last year. Then it was postponed to August 15 and now
no fresh date has been announced.
"This means that the Sahara group
will not be able to take advantage of the hype which
gets generated because of general elections, slated
for September," a Delhi-based media critic pointed out.
The Sahara group had drawn up grand
plans to enter the foreign broadcasting market through
three-hour programming blocks of Sahara TV which would
be made available on local platforms in Canada, UK and
South Africa.
The group had also decided to invest
about Rs 900 million in the first phase in fresh programming,
Dev said, adding the idea still is to have an "omnibus
channel", inclusive of entertainment and news and current
affairs programming.
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