IBN18 ups stake in Viacom18 to 33.7%

MUMBAI: IBN18 has invested Rs 2.63 billion to hold a 33.71 per cent stake in Viacom18 Media, the joint venture company with media conglomerate Viacom that runs channels such as MTV, Vh1, Nick, and Colors in India.

IBN18 now has the option to purchase an additional 16.29 per cent stake in Viacom18, resulting in an aggregate stake of 50 per cent in the joint venture entity.

Sources say IBN18 plans to raise Rs 1.50 billion through qualified institutional placement (QIP) to complete its holding of 50 per cent stake in Viacom18.

IBN18 had earlier raised Rs 1.14 billion through QIP at a rate of Rs 102 per share, while the promoters had additionally infused Rs 2.41 billion in equity.

By the end of December 2008, IBN18 had acquired 6.6 per cent of Viacom18. For the 50 per cent stake, the price is fixed at $62.5 million ($50.5 million for the transfer and $12 million as option premium - inclusive of costs of funding).

Meanwhile, IBN18, which houses news channels CNN IBN, IBN7 and a JV Marathi news channel IBN Lokmat, has posted a consolidated net loss of Rs 920.01 million for the fiscal ended 31 March 2009.

The net loss has expanded as in FY‘08 the company had suffered a loss of Rs 234.45 million.

Revenue rose 38.96 per cent to Rs 1.83 billion for FY‘09, as against Rs 1.32 billion a year ago. Expenditure moved up 94.34 per cent to Rs 2.57 billion, compared to Rs 1.32 billion in FY‘08.

The results of Viacom18 Media will get consolidated once IBN18 holds 50 per cent in the JV.

Latest Reads
Star Plus leads in traditional entertainment media brand category: Study

In an industry study conducted by Vidooly, it is observed that Facebook could be a great platform for aspiring video creators in the country. They can then incorporate it in their overall content strategy and try to leverage other platforms like YouTube, Twitter and Instagram.

Television TV Channels GECs
Discovery to air 'River Monsters' throughout December

Freshwater detective, biologist and extreme angler Jeremy Wade has spent three decades traveling the world’s waterways in search of man-eaters that lurk beneath the surface of rivers and lakes in some of the most inhospitable locations in the world.

Television TV Channels Factual & Documentary
Q2-17: TV Today Network topline up

BENGALURU: TV Today Network Limited (TVTN) reported 5.1 per cent increase in standalone revenue (TIO) for the quarter ended 30 September 2016 (Q2-17, current quarter) as compared to the corresponding quarter of the previous year (Q2-16). Standalone profit after tax (PAT) however declined 4.1 per...

Television TV Channels News Broadcasting
Discovery appoints FremantleMedia's Monisha Jaising Vaid

Discovery Networks is on a hiring spree. In its endeavour to accelerate growth and embrace opportunities beyond linear, Discovery Networks Asia-Pacific has now appointed Monisha Jaising Vaid as the director of original content for real world products. She joins from FremantleMedia India TV...

Television TV Channels People
Wentworth: Fremantlemedia International, Sky Deutschland tie up

FremantleMedia International (FMI) has announced it had secured a deal with German-speaking PayTV platform, Sky Deutschland, for the award-winning and critically-acclaimed prison drama, Wentworth.

Television TV Channels English Entertainment
Amirzada Nawab Khan's story to be telecast on Zee Yuva

MUMBAI: Maharashtra Police, one of the potent police forces in India, has come a long way from the decade of 80s when it lacked training & high-end precision weapons which is the norm of late. That decade was marked with the rise in crime and police’s main weapon were their networking skills...

Television TV Channels GECs
Colors leads Hindi, urban GEC; Sony Pal retains position

MUMBAI:Colors continues to lead the Hindi GEC and Urban GEC markets in week 47. In Hindi GEC rural market, Sony Pal emerged as the number one channel while Zee Anmol bagged the second position, according to Broadcast Audience Research Council (BARC).

Television TV Channels GECs
AXN to air s1-6 of 'Californication'

Novelists are nerds, some say so but there was this one who broke all the stereotypes unabashedly. He was stylish, charming and could flatter almost anyone with his good looks and wit. Does it ring a bell? Yes, we are talking about the much loved TV character, Hank Moody. Get ready for debauchery,...

Television TV Channels English Entertainment
'Vicky goes Desi' on NDTV Good Times

After having gone Veg and Foreign, Chef Vicky Ratnani is back in kitchen and is all set to return to your television screens with a brand new show called Vicky Goes Desi on NDTV Good Times. This time the chef is on a mission to create Indian flavours packed into brand new recipes.

Television TV Channels Specialised and Niche

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories