Television

TV 18 completes ETV channel acquisition

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2014/01/23/TV18.jpg?itok=IAZA697E

MUMBAI: A year ago, one of India’s leading media companies announced that it was acquiring the regional broadcast network; yesterday it informed the stock exchange that it had completed the transaction. We are referring to  TV18 Broadcast, a subsidiary of Network 18, which sent a note out to the Bombay stock exchange that it had successfully completed the acquisition of the Ramoji Rao promoted  ETV network with effect from 22 January 2014.

The channels  were acquired at a price of Rs 2,053 crore according to the Share Purchase Agreement which is well within the budget of Rs 2,100 crore that was approved by its board last year. The deal resulted in it acquiring 100 per cent of regional Hindi news channels ETV Uttar Pradesh, ETV Madhya  Pradesh,  ETV Rajasthan, ETV Bihar and ETV Urdu and 50 per cent in ETV Marathi, ETV Kannada, ETV Bangla, ETV Gujarati and ETV Oriya. The Telugu news and GEC channels ETV Telugu and ETV Telugu News will, however, see TV18 owning only 24.50 per cent equity. 

Excepting for the two Telugu channels, TV18 will have complete board and management control over all the other channels. Additionally, it will be holding the 50 per cent stake in the five regional GECs as an asset held for sale. The interest in these channels, its filing with the BSE states, will transferred to an associate company. Sources indicate that the channels are most likely  going to  be added to its Viacom18 joint venture or another company in the group. This will help it keep separate identities for TV18 Broadcast as a news channel enterprise, and GECs under Viacom18, if  the transfer does happen under it.

The deal cements TV 18 and Viacom 18’s presence in the regional space. When contacted, Network 18 group CEO B Sai Kumar, he said that the deal had been waiting to come through and more details would have to wait a while.

With one more transaction out of the way, Network18 can now focus on expanding its portfolio further through a Gujarati business news channel in the next few months as announced by Sai Kumar barely a week ago, clearly signalling that things are turning around at the group which was once ailing, thanks to its heavy debt burden.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/30/trai-logo.jpg?itok=PnO_QoX3
Supreme Court defers NTO 2.0 hearing to 15 February 2022

The Supreme Court bench of Justices UU Lalit, S Ravindra Bhat, and Bela Trivedi has deferred hearing in the New Tariff Order (NTO) 2.0 case to 15 February 2022. The matter pertains to a bunch of petitions filed by IBDF and certain broadcasters against the Bombay high court order on the...

Television TV Channels Terrestrial
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/30/punit_pandey.jpg?itok=_L4ZKNAE
9X Media CBO Punit Pandey takes additional charge of revenue

Mumbai: 9X Media’s chief business officer (CBO) Punit Pandey has taken additional charge of revenue for the network. Being part of 9X Media’s executive team, he will continue to work closely with the board of directors to drive the next phase of growth for the network. An industry veteran with over...

Television TV Channels People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/30/pogo.jpg?itok=7EfQ61Rx
Pogo launches Telugu language feed

Mumbai: WarnerMedia kids’ entertainment TV channel Pogo has announced a new Telugu language feed to reach more homes in Andhra Pradesh and Telangana.

Television TV Channels Kids
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/30/zee.jpg?itok=7o997z2i
Zeel acquires media rights for Emirates Cricket Board’s UAE T20 League

Zee Entertainment Enterprises Ltd (Zeel) has signed a 10-year media rights deal with Emirates Cricket Board (ECB) for their upcoming UAE T20 League. The broadcaster makes its return into sports broadcasting after its non-compete agreement with Sony Pictures Networks (SPN) India expired.

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/30/star.jpg?itok=27CMzNn_
Star and Disney India postpones new channel launches till further intimation

Star and Disney India has deferred the launch of 15 (SD+HD) channels and renaming of one channel until further intimation. “This is to inform all distributors of television channels that the launch of following 15 channels and name change of following one channel have been deferred till further...

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/29/news18-india.jpg?itok=1pS1uLwW
News18 India to host ‘News18 India Chaupal’ on 1-2 December

News18 India to set to host "News18 India Chaupal – Desh Ka Sabse Bada Manch" on 1-2 December. The event will be telecasted on News18 India channel from 6 p.m onwards on 1 December and 11 a.m onwards on 2 December.

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/29/star-sports.jpg?itok=XO0O3ENp
India vs New Zealand opening T20 match garners 73 million reach

The opening match between India and New Zealand, in the T20 international series that began on 17 November, garnered a reach of 73 million (2+U+R) becoming the most-watched T20 opening match in the last three years.

Television TV Channels Sports
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/29/zee-1.jpg?itok=ENNZJsip
Zeel-Invesco case: Bombay HC to continue hearing on 30 Nov

At the Zeel-Invesco hearing held on Monday, the division bench of the Bombay high court decided to continue the hearing on 30 November. On 29 October, the court had granted a temporary injunction against the requisition notice by Invesco.

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/29/think.jpg?itok=WeqZaYMX
Believe buys out Think Music to boost South India position

Mumbai: Digital music company Believe has acquired Think Music, a South India-based music label. With this acquisition, the company wants to further strengthen its position in South India. “The acquisition will help Think Music accelerate the growth and monetisation of its whole catalogue by...

Television TV Channels Music and Youth

Sign up for our Newsletter

subscribe for latest stories

* indicates required