Television

Blackstone to invest $ 275 million in Ramoji

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2016/05/17/Ramoji%20Film%20City.jpg?itok=eDN3RxNW

MUMBAI: In the single-largest investment in Indian media, global private investment firm Blackstone Group has announced it will be pumping in $ 275 million (approximately Rs 12.38 billion) to acquire a stake in Ushodaya Enterprises Limited (UEL), the holding company that manages Ramoji Rao's media assets.

While yesterday's announcement gave no details on the quantum of the stake that Blackstone would be taking in the south Indian media baron's closely held company, media reports have put it at 26 per cent. This would put UEL's enterprise valuation at $1.06 billion.

In addition to the $ 275 million that UEL is raising from Blackstone, it is also taking $190 million of bank financing, bringing the total financing it expects to raise to $465 million. As part of the agreement, Blackstone will have representation on the Board of UEL.

The transaction is subject to regulatory approval by Foreign Investment Promotion Board (FIPB) and the information and broadcasting ministry.

UEL chairman Ramoji Rao stated, "We were impressed with Blackstone's disciplined and highly rigorous investment process and the ability to combine this emphasis with a deep and genuine respect for the promoter's interests and desire to add value. The company had access to several financing options, including an IPO; but we decided to go with Blackstone because we believe that at this stage of our growth we have an opportunity to create significant value by leveraging Blackstone's outstanding experience and track record in the global media sector."

Akhil Gupta, chairman and managing director of Blackstone Advisors India Private Limited, stated, "We believe that the Indian media sector will be a key beneficiary of a secular trend in growth in personal consumption that is driving India's economic expansion which in turn will spur advertising growth. Importantly, we believe that UEL is an ideal platform for Blackstone to play this highly attractive sector in India.."

Kotak Investment Banking acted as the sole investment banking advisor to the transaction.

UEL owns Eenadu, the third largest newspaper, and ETV, the fourth largest private television broadcasting network in the country. The parent company of UEL, Ramoji Group, owns the 1,600-acre Ramoji Film City, which is Asia's largest studio, apart from diversified interests in hotels, foods and financial services.

The Blackstone Group is a global private investment and advisory firm that has has raised a total of more than $75 billion for alternative asset investing since its formation of which over $30 billion has been for private equity investing

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/03/ipl.jpg?itok=3A0Srzdl
IPL governing council clears UAE as venue; Vivo as sponsor

So, the Indian Premier League is moving to the UAE after all. All that it awaits is the official government go-ahead, which is likely to come in the next couple of days or so.  The IPL’s governing council green signaled the holding of the world’s most premium cricket tournament in the UAE on Sunday...

Television TV Channels Sports
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/03/pepsi.jpg?itok=P6z4WZUs
IPL, festive season expected to push up ad rev for GECs

After almost four months of hiatus, advertising spend is slowly inching up on TV, especially GECs, which saw shows resume some weeks ago. Experts suggest that whenever consumer behaviour sees a shift, advertising spends have also adjusted.

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/03/shoot.jpg?itok=ng6zGiq_
TV actors on resuming work and challenges faced while shooting

Now that most shows have resumed on TV, the entertainment is back on. However, the new experience of shooting is something that even actors are getting used to. While Kumkum Bhagya’s Mugdha Chaphekar is excited to meet her unit and the cast after three months.

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/01/jamesmurdoch800x800.jpg?itok=-WVMXLZn
James Murdoch resigns from News Corp board

MUMBAI: Truly, a saga has come to an end. James Murdoch once considered to be the successor to Rupert Murdoch has resigned from the News Corp board yesterday. James, who helped his father build his Asian empire under Star TV and later at 20th Century Fox and then Fox, was associated with his...

Television TV Channels People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/01/Romil%20Ramgarhia.jpg?itok=I4QrPiF4
BARC India COO Romil Ramgarhia resigns

NEW DELHI: BARC India COO Romil Ramgarhia has decided to move on from the ratings provider. He joined the organisation in 2014 as a chief business officer and was elevated to COO role about two years back. “Romil Ramgarhia has resigned from the services of BARC India effective 31 July 2020,” shared...

Television TV Channels People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/31/abp_0.jpg?itok=fSy4DOMo
ABP Network to shift from FTA to pay

KOLKATA: The news network which recently decided to reposition its brand identity from ABP News Network to ABP Network is also bringing a change to its business model. ABP Network chief executive officer Avinash Pandey said that the network will soon go pay from its current free-to-air (FTA) model.

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/31/bigga.jpg?itok=8I7F4CYb
BIG Ganga brings Kajri Utsav, a perfect culmination to its Saawan Celebration

Adding to the abundance of festivities ever-present in August, BIG Ganga, ZEE Entertainment Enterprise Limited’s No. 1 Bhojpuri General Entertainment Channel in Bihar, Jharkhand, and Purvanchal, is leaving no stone unturned in bringing the celebrations right to the doorsteps of its audience....

Television TV Channels Regional
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/31/zeee24.jpg?itok=Bpl0Dvpg
ZEE 24 Kalak Leads Gujarati News Genre

The past week has seen diverse developments across various genres which has increased news consumption exponentially. Ranging from Kargil, Rafale, Sushant Singh case, Covid-19 updates to Ram Mandir Bhoomi Pujan, various happenings have kept the news’ viewers glued to their television sets. In such...

Television TV Channels Movie Channels
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/07/31/shemaroo.jpg?itok=PBUeB4fJ
Shemaroo op revenue down due to COVID2019 impact

Indian content creator, aggregator distributor, specifically in the media and entertainment industry and now television broadcaster, Shemaroo  Entertainment Ltd (Shemaroo) reported 39.7 percent drop in consolidated operating revenue at Rs 86.2 crore for the quarter ended 30 June 2020.

Television Production House Fiction

Sign up for our Newsletter

subscribe for latest stories

* indicates required