Television

Reliance Mediaworks completes sale of multiplex biz to Carnival

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2015/08/04/reliance_media_work_new.jpg?itok=ngwtX_XQ

MUMBAI: Reliance MediaWorks (RMW), a part of Reliance Group, has completed the transaction for sale of its multiplexes business to Carnival Cinemas Ltd.

Reliance MediaWorks' multiplex chain Big Cinemas had approximately 250 screens across the country.

The entire proceeds for the sale of multiplex business have been duly received by RMW from Carnival Cinemas, and will be used to reduce Reliance Capital's leverage by approximately Rs 700 crore, through a combination of transfer of debt of RMW and infusion of cash proceeds. 

Reliance Capital executive director Sam Ghosh said, "We are happy to announce closing of this transaction with Carnival Group, which will reduce our overall leverage by approx. Rs 700 crore. This will lower our debt equity ratio to a conservative 1.75:1, amongst the lowest in the financial services sector in India."

"The transaction is in furtherance of Reliance Capital's stated objective of focusing purely on its core financial services businesses, significantly reducing exposure to non-core investments in the media and entertainment sector, and reducing overall debt," he added.

RMW had sold its multiplex business to Carnival Cinemas in December last year, and the transaction has now been closed upon receipt of all approvals. The deal excludes real estate owned by RMW at Imax Wadala and other properties, which are intended to be separately monetized for an approximate value of Rs 200 crore.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/16/Baavle_Utaavle.jpg?itok=roHnkzhD
Sony Sab strengthens primetime slot with 'Baavle Utaavle'

Sony Sab is all set to launch its new show, Baavle Utaavle, #Gufu Ki Visfotak Love Isstory, produced by Director’s Kut production house Rajan Shahi. The show will go on air on 18 February, every Monday to Friday at 10 pm.

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/16/TV9_Bharatvarsh.jpg?itok=lzr3B7fe
TV9 enters Hindi heartland with TV9 Bharatvarsh

TV9 News Network is all set to launch its national Hindi channel, TV9 Bharatvarsh, next month in Delhi. The channel is ready with its largest news studio in the country, which will use the best of AR and VR technologies, and BOT news tracker in its presentation.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/16/Chrome_DM.jpg?itok=Vzh5LDxy
Tariff order implementation: Pay channels' connectivity drops ranging from 61% to 0.5% across genres

The ongoing flux in the broadcast sector due to the new TRAI tariff order implementation has had a significant impact on the connectivity of pay channels in the country. After the new regulatory framework kicked in on 1 February, pay channels’ connectivity witnessed a drop ranging from 61 per cent...

Television TV Channels Viewership
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/15/Rupay.jpg?itok=X8M0HO9f
Pro Volleyball League attracts 14.3 mn viewers in week 1 on TV

The first leg of RuPay Pro Volleyball League (PVL) which happened in Kochi witnessed 14.3 million viewers sample the league on Sony Pictures Network (SPN) India.

Television TV Channels Sports
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/15/mtv.jpg?itok=raQzzzLI
MTV associates with Brave Combat Federation for 'Brave 20'

MTV, India’s youth brand, is all set to bring the fight series MTV Brave 20 in association with the Brave Combat Federation presented by Mercury Sports Entertainment on 17 February at 9 pm.

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/15/bag.jpg?itok=WdVZEAML
Q3 2019: BAG Films Television and Radio Dhaamal profits up

The Anurradha Prasad-led BAG Films and Media Ltd (BAG Films) reported 38.1 per cent higher year-on-year (y-o-y) consolidated revenue for the quarter ended 31 December 2018 (Q3- 019, period or quarter, under review) at Rs 48.67 crore as compared to Rs 33.94 crore in the corresponding prior year...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/15/zee.jpg?itok=paGRPClV
Comcast, Sony in the running for ZEEL stake?

In the latest financial results, Zee Entertainment Enterprises Ltd (ZEEL) MD and CEO Punit Goenka mentioned that the company has narrowed down its search for a partner to divest up to 50 per cent stake in the company, an announcement it made in November 2018.

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/14/9x-jalwa.jpg?itok=dTEgvuDY
9X Jalwa launches Jalwa #10YEARCHALLENGE

MUMBAI: 9X Jalwa, the Bollywood hits music channel by 9X Media, has created Jalwa #10YEARCHALLENGE, a unique property that showcases the songs of Bollywood stars from past to present. Jalwa #10YEARCHALLENGE will feature stars such as Aamir Khan, Aishwariya Rai, Kajol, Akshay Kumar, Salman Khan,...

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/14/Murtaza-Ahmadi.jpg?itok=4zZ7uTuy
CNN meets the young Lionel Messi fan from Afghanistan who is now a Taliban target

In January 2016, a photo of young Murtaza Ahmadi went viral, thanks to his makeshift version of an Argentine football shirt of his idol Lionel Messi. The photo earned the child two autographed shirts, a signed football and a meeting with the footballer in Qatar 11 months later.

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories