Television

US research firm finds Eros International accounting practises inappropriate; law firm files class action litigation

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2015/12/02/mam%20people.jpg?itok=YgXx8RgD

BENGALURU: US research firm Alpha Exposure (AE) has found Eros International Plc's accounting practises inappropriate, especially the way it amortises its films as compared to US film makers. 

By stretching its amortisation period, Eros is significantly able to reduce its expenses and hence shows higher earnings alleges AE. Through its publication seekingalpha.com, the firm had published three reports - on 30 October, 2015 titled Unlike The Name, Investors Should Not Love EROS, on 13 November, 2015 titled Eros: Is The Game Finally Over? We Think So, and on 17 November, 2015 titled Eros: A Short Story.

Based on these reports, US law firm Lieff Cabraser Heimann & Bernstein, LLP announced today that Securities fraud class action litigation has been filed on behalf of investors in Eros International Plc by it. The law firm has asked investors who have purchased or otherwise acquired the securities of Eros between 12 November, 2013 and 13 November, 2015, inclusive (the “Class Period"), including pursuant and/or traceable to Eros's initial public offering ("IPO") on or about 12 November, 2013, they may move the court for appointment as lead plaintiff by no later than 12 January, 2016. 

The firm’s Case Center  (http://www.lieffcabraser.com/Case-Center/Eros.shtml) on its website informs investors: “You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the action. Recognized by the National Law Journal as one of the nation's top plaintiffs' law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market. We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation."

"Eros investors may choose to have Lieff Cabraser review their claim by completing the contact form below. You can also call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358 to discuss the litigation.”

A summary of the 30 October, 2015 report on seekingalpha.com is listed below: 

(1) Due to aggressive accounting practices, Eros' reported earnings are significantly overstating the economic reality of its business model.

(2) Eros' subsidiary financials reveal a lack of free cash flow and raise many questions about the company’s accounting.

(3) The company has enriched its controlling family at the expense of shareholders through a series of related-party transactions.

(4) Eros Now is poorly positioned to win the battle for streaming media in India and appears to have made meaningful misstatements to investors.

(5) Based on the company's persistent negative free cash flow and growing debt and share count, we believe the stock is worthless.

The full report dated can be read at: http://seekingalpha.com/article/3621886-unlike-the-name-investors-should-not-love-eros

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/19/pepsi-ipl%20%281%29.jpg?itok=xgcsPsUr
IPL: BCCI interim admin issues directions on player auction

BCCI's Committee of Administrators (CoA) on Sunday issued the following directions in respect of the upcoming IPL Player Auctions to be held in Bengaluru on 20th February 2017:

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/19/raj-nayak.jpg?itok=D-QNNKzN
BT Media distributing Colors HD to Sky UK subs

BT Media & Broadcast, the global media services business of BT last Friday evening announced its association with Viacom18, one of India’s fastest growing entertainment network, to bring its flagship Hindi general entertainment channel, Colors, to Sky TV subscribers in the UK in High...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/17/india-tv%20%281%29.jpg?itok=HWCANXFr
India TV rules Hindi News, ABP dominates Hindi Rural

India TV toppled Aaj Tak in the Hindi News genre taking the number one position. In this week’s data, India News gave way to News18 to feature in the top five channels list.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/17/vivo%20%281%29.jpg?itok=-DHigbci
Sony Six to telecast IPL player auction live

The sports cluster of Sony Pictures Networks India (SPN) is all geared up to broadcast the Vivo IPL 2017 player auction live and exclusive. The auction will be aired from Bangalore on 20 February 9 am onwards on Sony Six SD and Sony Six HD channels.

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/17/IPL%20%281%29.jpg?itok=Fq9zVbYr
BCCI releases RFP for service related to VIVO IPL 2017

The Board of Control for Cricket in India (BCCI) has released the Request for Proposal (RFP) for Indian Premier League for the right to be appointed as a media agency in relation to the IPL.

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/17/David-Zaslav%20%281%29.jpg?itok=_o81HwaJ
Discovery to launch second FTA channel in UK, adds two programmes on Amazon Prime

Discovery is planning to launch its second free-to-air TV channel,Quest Red, in the UK on 15 March with new real-life entertainment. The channel follows the launch of Quest, the company’s first FTA offering in the territory, which launched in 2009.

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/17/kaul%20%281%29.jpg?itok=qVlZHfIj
Hinduja Group's Ashish Kaul joins Prakash Jha Productions as CEO

Prakash Jha Productions has appointed the media and entertainment vet Ashish Kaul as the CEO for its television and digital business.

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/17/TV-SERIAL.jpg?itok=SsFT6wHd
Viacom's Colors & Rishtey lead the charts in BARC week 6

MUMBAI: Colors continued to be the leader this week of both Hindi GEC and Hindi GEC Urban market whereas Rishtey emerged as the number one channel in week 6 of Broadcast Audience Research Council (BARC) India data.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/17/Rural-India-Story%20%281%29.jpg?itok=Z8BO0KRX
Total TV universe up to 183 mn, rate of rural growth higher than urban: BARC survey

NEW DELHI: Okay it’s out and the data does reflect that television is thriving in India and growing. According to the latest BARC India figures, the all-India TV universe has increased to 183 million from the earlier collated figure of 154 million with the growth in rural audience showing a...

Television TV Channels Viewership

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories