Television

Crest to raise up to $12 million through FCCBs

MUMBAI: Crest Animation Studios Ltd is planning to raise up to $12 million through the issue of foreign currency convertible bonds (FCCBs) for part financing three feature films. 

The company's US subsidiary, RichCrest Animation, had earlier signed a three-picture co-production and co-financing agreement with Lions Gate Entertainment. Crest's contribution for these three projects would be around $30 million.

Crest's board, which met today, has approved the raising of funds through issue of FCCBs. The company is looking at a mix of debt and equity to fund the film projects.

The first of the three CGI movies,‘Sylvester and the Magic Pebble’, is based on the Caldecott medal-winning story by William Steig, the creator of the blockbuster Shrek. The pre-production work on the movie is near completion, and the production plan is as per schedule for 2008 release.

Said Crest Animation Studios CEO AK Madhavan, “We are excited to begin work on the first full length 3D CGI movie that will come out of India. Today, all the key components for the movie, the story, the production facilities, financing and the most critical of all, distribution, are in place. The landmark deal has put Crest amongst the only seven studios in the world to have the capability of producing 3D movies in CGI space.”

Meanwhile, Crest has posted a net profit of Rs 4.6 million for the third quarter ended 31 December 2005, as against a loss of Rs 5 million reported during the corresponding quarter of the previous year.

Revenues rose nine per cent rise to Rs 72.9 million as compared to Rs 66.9 million for the corresponding quarter of the previous year. Profit before depreciation, interest and tax (PBDIT) at Rs 24.2 million grew by 28 per cent.

For the nine months ended 31 December, Crest reported revenues of Rs 215.8 million, up 6 per cent from Rs 203.5 million during the corresponding period last year. Profit before depreciation, interest and tax (PBDIT) rose by 4 per cent to Rs 75.2 million, while net profit for the nine months increased to Rs 60.5 million from Rs 6.3 million.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/26/amit.jpg?itok=hlHHnJTF
71% Indians trust their news sources, survey reveals

KOLKATA: According to the global survey by The Trust Project and Ipsos titled ‘Trust Misplaced?’, 71 per cent urban Indians and 64 per cent global citizens believe they have easy access to news from sources they trust. At least six in 10 urban Indians (59 per cent) say they read news they can...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/26/barc.jpg?itok=qgM0b60r
BARC week 46: Sony Sab replaces Colors in urban market

MUMBAI: Sony Sab has replaced Colors on second spot in the urban market in week 46 (Saturday, 14 November 2020 to Friday, 20 November 2020) of Broadcast Audience Research Council of India (BARC) data. Dangal has slipped down to ninth place on pay platform.  Pay Platform

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/26/zee.jpg?itok=26_yeHJ5
Zee Telugu to premiere emotional thriller Penguin

MUMBAI: Prepare for goosebumps this Sunday evening as Zee Telugu will take you on a chilling journey with the world television premiere of the emotional thriller movie Penguin. Set in the sylvan surroundings of Kodaikanal, the film sketches the trauma of a mother and the lost son who is trying to...

Television TV Channels Regional
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/26/cnn.jpg?itok=GXTaNGr8
CNN International to broadcast Turner Sports’ exclusive presentation of Capital One’s The Match: Champions for Change

Turner Sports will present Capital One’s The Match: Champions for Change, a premier golf event with the World Golf Hall of Famer and crossover legends competing – Phil Mickelson, Charles Barkley, Stephen Curry and Peyton Manning.

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/26/mn.jpg?itok=seJMjnc4
MN+ & Romedy NOW to simulcast Indian television premiere of Little Women

MUMBAI: Offering best of Hollywood movies to its viewers, MN+ and Romedy Now is all set to simulcast the Indian television premiere of Little Women, on 29 November, at 1:00 PM and 9:00 PM. An adaptation of Louisa May Alcott's 1868-69 two-volume novel of the same name, Little Women is a modern...

Television TV Channels English Entertainment
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/26/tweet_0.jpg?itok=48kEMtFi
CNBC-TV18 Storyboard, Twitter come together to show #BestofTweets

NEW DELHI: CNBC-TV18’s Storyboard has partnered with Twitter to launch a special series, #BestofTweets, to offer much-needed brand insights and momentum during these times.

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/26/mah.jpg?itok=ovf7zH7M
Dangal to tap its regional channels for Prem Bandhan promotions

Hindi GEC Dangal TV, a part of Enterr10 Television, is all set to entertain viewers with its latest offering, Prem Bandhan. Produced by Balaji Telefilms, the show stars Chhavi Pandey and Manit Joura as the protagonists.

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/25/barc.jpg?itok=5LYQzb_l
Screentime of sports celebrities grew in IPL 13 ads, says BARC

MUMBAI: IPL 13 was the much-needed break that enlivened Indian audiences from the Covid2019 pandemic-induced gloom. While the tournament was played in the UAE, it saw scores of brands advertising during the game to reach out to their audiences. This year, the league clocked over 400 billion viewing...

Television TV Channels Sports
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/25/ipl.jpg?itok=1NImH8wc
IPL has 86 million fans in India: Ormax Media study

MUMBAI: Chennai Super Kings (CSK) is the IPL team with the biggest and most hardcore fanbase, a study by Ormax Media has revealed. With 26.8 million fans, the MS Dhoni-led CSK has emerged as the strongest franchise, as per the findings of the IPL Franchise Fans report, based on a research conducted...

Television TV Channels Sports

Sign up for our Newsletter

subscribe for latest stories

* indicates required