Television

Network18 transfers Burrp in internal restructure

MUMBAI: In a communique to the National Stock Exchange of India and BSE on 3 July signed by Network 18 company secretary Ratnesh Rukhariyar, the company has disclosed information regarding restructuring of Burrp.

"This has reference to our letter dated 19 April 2017 regarding restructuring of Company's business of food and restaurant search and recommendation engine operated under the name of Burrp," the communique stated.

"The company, on 3 July, 2017, has entered into a Business Transfer Agreement with Foodfesta Wellcare Private Limited (FWPL) (a subsidiary of Big Tree Entertainment Private Limited ('Big Tree')) for transfer of Burrp undertaking as a going concern on slump sale basis. The transfer will be effective 1 July, 2017," it added.

Big Tree is an associate and a related party of the Company. Big Tree is also an associate of Reliance Industries Limited, a promoter group company. Big Tree owns and operates the popular ticketing platform 'Book My Show' and Burrp will be a natural fit in its portfolio.

"Burrp's revenue during FY 201.6-17 was Rs. 56.67 lakhs accounting for 0.69% of Company's turnover. The net worth as on 31•' March 2017 stood at a negative Rs. 2889.55 lakhs. Considering the insignificant contribution of Burrp to the revenue of the Company and the investments and the focus required to be made, the Company considered and decided to divest Burrp business," it added.

The consideration for the slump sale is Rs. 6.70 lakhs and has been determined on the basis of valuation carried out by Ernst & Young LLP. The transaction is at arms' length basis and being a slump sale does not have any impact on the shareholding pattern of the Company.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/18/aaj.jpg?itok=WTXjyKeT
Aaj Tak becomes the world’s first News Channel to be awarded YouTube’s ‘Diamond Play Button’

India’s No.1 news channel Aaj Tak creates history yet again! The prestigious ‘Diamond Play Button’ bestowed by YouTube, recognises Aaj Tak as the global no.1, the first and the only news channel in the world to have crossed the 10 Million Subscriber mark.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/18/news.jpg?itok=PDqQIFhw
News18 India launches campaign; asserts channel’s leadership

News18 India, Network18’s general Hindi news channel, recently launched a campaign with a humorous and quirky film to drive home its leadership position in the crucial primetime band in the highly competitive Hindi TV news segment.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/18/flix.jpg?itok=1RgvxTpA
Join Drac’s Pack on their cruise as &flix presents its next #FlixFirstPremiere ‘Hotel Transylvania 3: Summer Vacation’

It is seldom that you get to see the hilarious side to a monster trying to get himself a date with the help of a technological app like Siri! Have you ever seen a monster film that is full of fun, frolic, laughter, romance and adventure?

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/18/9xm.jpg?itok=ZerfjJqA
9XM On Stage with Salim Sulaiman

To celebrate the Republic Day week, 9XM - India’s most popular Bollywood music destination announces the launch of 9XM On Stage a splendid musical night created in honour of the Indian Armed Forces.

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/18/pritam.jpg?itok=tVS2_5SL
Prime Focus joins hands with Pritam and Kwan to create JAM8

Integrated media services company Prime Focus Ltd has announced its collaboration with Jam8, a musical platform founded by Indian music composer/director Pritam, and KWAN, a talent management company to serve as a 360-degree creative solution provider for the M&E industry.

Television Production House Film Production
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/18/star.jpg?itok=Xao8ACOH
Star Movies Kids is the new kid on the block

A few years ago Star India decided to hive off some bits of its repertoire and focus exclusively on its main GEC Star Plus and the emerging sports scenario. Surprisingly, the channel is now taking a new turn by targeting the youngest viewers. As per industry sources, the Uday Shankar-led network is...

Television TV Channels Kids
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/17/cn.jpg?itok=BRpRY0Oq
Zapak and Cartoon Network India partner to launch ‘Ben 10 - Alien Run’ mobile game

Anil D. Ambani led Reliance Entertainment’s Zapak, India’s leading Gaming Destination, in association with Cartoon Network India, rings in the New Year with an epic launch for fans and gamers alike, with Ben 10 - Alien Run Mobile Game.

Television TV Channels Kids
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/17/makarskratni.jpg?itok=GEQT4q5A
Sony Entertainment Television makes Makarsankranti memorable for the commuters of Western Railway

The local trains in Mumbai are known to give a unique glimpse into the lives of Mumbaikars.

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/17/atul.jpg?itok=WTNlgJrH
ZEE announces offer on Zee Family Packs, now at Rs. 39* per month

With the new tariff/pricing regime all set to come into effect from February 01, 2019 ZEE, the No. 1 television network of the country, announces attractive launch offers for its consumers. Zee family packs will be available for Rs. 39* only. This special launch offer has been devised for consumers...

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories