Television

TV9 network on sale; Zee group front-runner?

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/09/27/TV9.jpg?itok=vBRloD_1

MUMBAI: Consolidation in the Indian news television business is but a foregone conclusion, thanks to the plethora of channels operating in the space. The only question is when and who.

Well, here’s another news television network which is possibly on the auctioneer’s table. Associated Broadcasting Co Pvt Ltd is reportedly looking for a buyer for its seven regional TV news channel bouquet under the TV9 brand, says a report by Business Standard this morning. ABCL employs over 5000 people across three countries.

The report also quotes TV9 founder & CEO Ravi Prakash saying that “private equity investors typically follow a seven-year horizon for their exit strategy while our investors stayed with the company for 12 years. We have been in touch with a couple of people for possible stake sale. But no final decision has been taken till now."

The front-runner in this stake sale is reportedly the cash-rich Subhash Chandra-run Zee TV group.

The investors of TV 9 had reportedly been seeking the right valuation for a majority stake sale and Zee seems to be up for it. The Zee group is likely to purchase a majority stake in ABCL, the Hyderabad-based media firm, which owns the TV9 brand.

Chintalapati Srinivasa Raju, a venture capitalist, owns around 60 per cent of ABCL, Saif Partners, the US-based private equity firm, holds around 20 per cent while TV9 CEO and ABCL founder Ravi Prakash and his associates own the remaining 20 per cent stake.

Under CEO Ravi Prakash's leadership, ABCL's mission has been to continually advance and improve the dissemination and quality of news and bring to viewers media services in their local languages. ABCL covers television, filmed entertainment, cable network programming, internet services operating direct broadcast satellite television, in India, United States of America and Africa.

ABCL CFO MKVN Murthy brought to TV9 rich acumen gained decades of experience in the entertainment and communications industry. In addition, he has a deep understanding of the ins and outs of cable and satellite distribution platforms. Murthy has been the lead player in the company's aggressive expansion to new markets in Karnataka, Gujarat, Mumbai and its partnership forays into Kerala and Kolkata.

Saif Partners and Raju have reportedly been waiting for the expected valuations to sell their ABCL stake for quite some time now.

Incorporated in May, 2003, ABCL had started with first 24-hour Telugu news channel under TV9 in the following year and expanded subsequently to other regional languages. It currently runs seven news channels including the TV9 Kannada, TV 9 Marathi and the popular TV 9 Gujarati news.

The deal between the promoters of ABCL and Zee Group is expected to be closed in a couple of months, sources said. Zee was one of the four companies that had signed NDAs (non-disclosure agreements) with the promoters of ABCL some time ago, a senior ABCL official said.

Zee group, which runs 35 news and entertainment channels in Hindi, English and other major languages, had closed down its Telugu news channel around four years ago. The potential purchase TV 9 may give Zee an opportunity to re-enter the Telugu market on the strength of a strong local brand and would also help it to expand its presence in important markets such as Gujarat, the Business Standard report explains.

Srini Raju had promoted iLabs Capital (which later became Peepul Capital LLC) had invested around Rs 80 crore in ABCL's first round of funding in 2004. Saif Partners acquired 20 per cent stake from Peepul in 2009.

ABCL is committed to professional and social journalism. This is reflected in its dynamic style of news coverage and the corporate social responsibility work undertaken by the various TV9 channels in India and through Simba Television Network in Africa.

Ravi started the first TV9 channel in Telugu which changed the dynamics of media and breaking news in Andhra Pradesh. Named as the "catalyst for progressive change", Ravi’s news network has consistently focused on how media can facilitate a fair, equal modern society through its news and programming. Known for his impeccable anchoring skills his programme "encounter" an interview based political show has been widely appreciated for its analytical and presentational style.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/06/24/FIFA-Story.jpg?itok=-v_bg075
U-20 & U-17 FIFA '19 bidding for host launched, Sony to telecast U-17 in seven countries

Broadcasters, OTT/VoD platforms and digital companies are looking forward to entertaining and engaging viewers by providing the best adrenalin. Sports lately is the genre which is in vogue. Leading broadcast and streaming companies are seeking out avenues and sporting event opportunities to keep...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/06/24/Brooks_Meek-Anthony_Moore.jpg?itok=5ynTynEr
India among prospects to train at NBA Academy

MUMBAI: The National Basketball Association (NBA) and Basketball Australia (BA) has announced the official opening of The NBA Global Academy, an elite basketball training center at BA’s Centre of Excellence at the Australian Institute of Sport in Canberra. The NBA Global Academy will serve as the...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/06/24/Prannoy_Roy-Radhika_Roy.jpg?itok=U3wkYBz0
NDTV resolutions confirm re-appointment of Roys & sale of subsidiaries

MUMBAI: NDTV, in a communique to the secretary, BSE Limited, and assistant VP, Listing Department, National Stock Exchange of India, signed by the company secretary Navneet Raghuvanshi, confirmed that four special resolutions as mentioned in the Postal Ballot Notice dated 11 May, 2017, have been...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/06/24/Carlos-Amoros.jpg?itok=nKVSW3ay
Tripleplay to provide Atlético de Madrid stadium tech solution

MUMBAI: Tripleplay, a leader in the development of Digital Signage, IPTV and Video Streaming Solutions, has been chosen by Atlético de Madrid to implement its technology at the brand new, 68,000 capacity, Wanda Metropolitano Stadium in Madrid this July.

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/06/23/ntony_0.jpg?itok=s8hztsgm
Roy C. Anthony joins Ventuz Technology as VP - creative development & ops

Roy C. Anthony, a leading figure in the digital creative world, has joined Ventuz Technology AG. For over 20 years, Roy has been a force of innovation in fields ranging from VR, film, event and staging environments. Pushing boundaries in large scale interactive immersive display technologies, he...

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/06/23/zee.jpg?itok=em5ZBwe8
Zee Cafe targets 20-40-yr-olds with BBC First drama

MUMBAI: Zee’s English entertainment channel Zee Café has partnered with BBC Worldwide to bring award-winning premium British drama to its audience. Starting from 26 June, the channel will host BBC First content block with 11 new shows set to air every weeknight at 10pm time slot. The channel has an...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/06/23/Dhimant%20Parekh.jpg?itok=7Qv1DKpo
HistoryTV18: #BossWomen to tell stories of Indian women

NEW DELHI: #BossWomen, a weekly video series showcasing the stories of extraordinary Indian women, has commenced telecast on HistoryTV18. The programme is part of a first-of-its-kind digital collaboration with disruptive tech-media platfvorm The Better India. The first episode is on with the story...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/06/23/DD-800x800.jpg?itok=mThViP0X
Doordarshan: Soaps & travelogues make Arun Prabha shortlist, presentations early July

NEW DELHI: The producers of the 390 proposals in nine genres which have been shortlisted for soon-to-be-launched DD Aruna Prabha for the northeast have been asked to make their presentations in DD Headquarters in Delhi from 6 to 10 July. All the shortlisted productions are in the commissioned...

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/06/23/Virat-Kohli-800x800.jpg?itok=8Zi6rB7w
UCWeb: Cricket viewership soars 230%, Lucknow, Pune, Bhopal, Delhi & Mumbai see max traction

NEW DELHI: Consumption of Cricket-related content exceeded 0.75 billion on UCWeb Platforms - UC News and UC Browser, for the latest edition of IPL 2017 and the recently-concluded ICC Champions Trophy 2017. According to a data report titled Insights into India’s Cricket Frenzy released by Alibaba...

Television TV Channels Sports

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories