Jagran & Network18 Comes Together

Jagran & TV18 To Launch Hindi Business Daily

Jagran Prakashan Ltd has informed BSE that Netwotk18, India's leading media conglomerate and the Company, one of India's most acclaimed print majors & publisher of India's largest read daily 'Dainik Jagran' have announced a 50:50 joint venture initiative in the business print space. The primary mandate of this JV will be to launch a Hindi business daily for the Indian market in 2008. Subsequently, this will be followed by other Indian language dailies focused on financial and economic news.

This JV will in effect create a new category of local language business dailies within the India print space, as this will be the first Hindi business paper to hit the market nationally. This venture also marks an expansion of print offerings from Network 18 into the dailies space, post the recent announcement of its magazine publishing arrangement with Forbes media and ownership control of Infomedia, India’s leading publishers in the B2B media space. This venture is also a reiteration of the Company's intent and commitment to provide its readers news and information in all genres.

The venture has been positioned to benefit from the respective competencies of TV 18 & the Company. Television Eighteen (TV18) is a recognized leader in the business media space, with a roster of brands across television, online and information terminal platforms such as CNBC-TV 18 & CNBC AWAAZ which are India's leading business channels, Moneycontrol.com which is India's No 1 financial news & information portal and Newswirel8, India's leading real time news & data platform. The Company publishes "Dainik Jagran", India’s largest read daily besides recently launched youth oriented compacts "I-Next" and "City Plus". TV 18 shall bring forth its expertise in business content to the JV, while the Company shall bring forth its print competencies including operational expertise, print and related infrastructure and distribution to the venture. Both TV18 & the Company have agreed to co-promote the offerings under the venture and exploit cross platform synergy opportunities present from both sides. It is noteworthy that 3 years ago, TV18 had launched CNBC AWAAZ, a consumer focused business channel, to cater to the needs of the Hindi business viewer. It soon emerged as a Leader in the Hindi business news segment & a major contributor to the expansion of business audiences in the country.

Mahendra Mohan Gupta, CMD, of the Company said "Our leadership in the Indian print space will further be strengthened with the launch of business dailies. This venture is based on a commonness of vision we share with TVI8 on a strong need for a high quality business print offering in Hindi and other languages. Our experience in the language media space has revealed a growing interest in specialized business news & information, which, this vehicle will enable us to cater. I am confident that we will live upto the expectations of our readers as hitherto and expand the financial market, in the geographies that are going to play a crucial role in the economic growth of the country in times to come".

Commenting on this announcement, Raghav Bahl, MD, Network18 added "The fact that "Bharat" is rapidly emerging as the key driver of the Indian economic opportunity is fairly evident. In recent years, business audiences have grown immensely in the Hindi heartland and regional markets, reflecting a democratization of enterprise & wealth creation across the nation. The leadership of CNBC AWAAZ is a strong affirmation of this new reality as well as indicative of a great need for language products across the business media spectrum. We are delighted to partner Jagran Prakashan as it will allow us to fulfill this need powerfully in the print space, by combining TV18’s strengths in business content with Jagran's intimate understanding of print markets"

The JV will be governed by a board, comprising of representatives from TV18 & the Company, which will oversee management plans and execution. The operational specifics in terms of brand name for the business daily, selection of the editorial and business team and so on is in the process of being formalized. The JV will be funded through an initial equity infusion from both sides followed by internal accruals & debt financing in the later stage.

TV 18 - Forms Joint Venture With Viacom

TV18 Group Forms 50 / 50 Joint Venture Operation With Viacom In India

Network 18 Fincap Ltd has informed BSE that Viacom Inc and the TV18 Group on May 22, 2007 has announced the creation of a new 50 / 50 joint venture operation in India, Viacom-18. The strategic alliance will include television, film and digital media content across numerous brands to build India's leading multi-platform entertainment Company. The partnership was announced at a press conference in Mumbai, India by Philippe Dauman, President & Chief Executive Officer of Viacom, and Raghav Bahl, Managing Director of the TV18 Group. This transaction is subject to regulatory approval and other closing conditions.

As part o the agreement, Viacom-18 will launch a new Hindi-language general entertainment cable and satellite channel in India within the next year. It will include original, locally produced programming and acquisitions. MTV Networks (MTVN), a unit of Viacom, will contribute its successful local networks, MTV, Vh1 and Nickelodeon India, to the joint venture. Viacom-18 will also launch a further suite of targeted channels in the future from the MTV Networks portfolio, as well as new brands, Digital media content across all of the television brands will be developed and distributed to Indian consumers. The joint venture will also syndicate MTVN programming and newly produced content.

The TV18 Group will contribute its Motion Pictures division operation to the joint venture, which produces, acquires and distributes Hindi-language films. Additional cooperation in the Indian market beyond this alliance includes joint ownership of the management Company for The Indian Film Company, which is in the process of being listed on the Alternative Investment Market (AIM) of the London Stock Exchange. In the coming months, Viacom's Paramount Pictures and DreamWorks studios will explore additional opportunities for collaboration with Viacom-18.

"India is one of Viacom's priority markets for expansion internationally," commented Mr. Dauman, "This partnership will transform and significantly enlarge our business to offer audiences greater content diversity across platforms, and opportunities for advertisers to reach the full spectrum of demographics. The film operation for Viacom-18 will provide strong synergies with the TV and digital media business, as well as complement our Paramount and DreamWorks studios. We are delighted to enter into this partnership with TV18, the most forward-looking, entrepreneurial media Company in India."

Commenting on the partnership, Raghav Bahl, MD of the TV18 Group, said: "Having established leadership in news broadcasting and consumer Internet business, the TV18 Group was poised to make an ambitious entry into the multi-platform entertainment space. We are delighted to do this in partnership with Viacom, easily among the most successful entertainment Companies on our globe. We are confident that Viacom-18 will entertain India's burgeoning film and television audiences. Viacom-18 will also propel the TV18 Group into the league of a truly diversified and broad-based media conglomerate."

"The entertainment space offers significant opportunities and this partnership gives us the scale to compete and the edge to achieve leadership position. Viacom-18 will build and nurture communities across platforms much like TV18 has successfully done in the news space. We intend to exploit the compelling demographic synergies between our news channels and Viacom-18's entertainment offerings," commented Haresh Chawla, Group CEO, TV18.

The TV18 Group, subject to regulatory approvals, proposes to eventually house its investment in this joint venture through its general broadcast subsidiary - GBN.

"To take leadership in the dynamic entertainment industry, a business needs superior capabilities across content creation, brand building and distribution. The Viacom-18 joint venture brings together the unique strengths of two formidable partners, thus forming a multimedia entertainment powerhouse that will have a competitive advantage in serving the needs of both viewers and advertisers," said Amit Jain, Managing Director, MTV Networks India and Executive Vice President, MTV Networks Asia.

Further announcements about Viacom-18, including management and content plans, will be made in the coining weeks. This transaction was supported by Ambit Corporate Finance Pte Ltd and BMR Advisors.

Source : Bombay Stock Exchange

TV18 - Forms Alliance With Infosys

Infosys BPO, TV18 Launch SOURCE 18

Infosys BPO has announced a strategic alliance with TV18 Group, India’s leading full play media conglomerate to launch SOURCE 18. SOURCE 18 will provide a full spectrum of services to Media and Entertainment companies globally.

Infosys BPO with its global delivery capabilities, technological know-how and process understanding will provide the initiative for the much needed process and technological support, while TV18 would bring in domain knowledge and expertise to the alliance. Media companies around the world have gone through significant transformation with new forms of media gaining superiority.

SOURCE 18 will offer services in enabling content for digital media including digital archiving & metatagging, repurposing content, work flow charting, ideation, re-editing, transcoding, quality control as well as media process outsourcing, which shall include promo production, traffic management, uplinking, inventory management. The services would also offer Analytics, Finance and Accounting services, Order Management, Rights Management, HR and other outsourcing services. Source 18 will utilize the services of Tangerine Digital Entertainment, a company specializing in content repurposing and media process outsourcing, for part execution of the contracts.

Source 18 offerings have already seen endorsements from the industry. National Geographic Channel International (NGCI), one of the leading and most respected international broadcasters, with an impressive lineup of globally relevant programming, has signed up for repurposing their archived and current content for the mobile platform.

With the global media and entertainment industry growing to almost USD 2 trillion by 2008, there is a sizeable business opportunity emerging in the media outsourcing market. Major content owners globally are focusing on creating strong content after-markets and generate revenue through multiple platform delivery. This will allow broadcasters and content owners significant incremental revenue upside and reduced costs.

“We believe this strategic alliance is a great symbiosis of competencies of two great organizations - Infosys BPO and TV18. We expect media & entertainment to be a key growth driver for us. This partnership with TV18 is a significant step in that direction, as we together cater to the tremendous opportunities in Media & Entertainment industry”, said Amitabh Chaudhry, CEO & MD, Infosys BPO Limited.

Adds Haresh Chawla, Group CEO, TV18, “SOURCE 18 will be a key part of our strategy to address all aspects of the media value chain. We believe that as a full play entity, process outsourcing and media repurposing & production services are key focus areas for us. With SOURCE 18, we combine the technological, process and management know-how of Infosys BPO with the domain knowledge of the TV18 group and this will be a market making alliance”.

Puneet Johar, Founder, Tangerine Digital Entertainment, said, “Proliferation of content across formats and platforms is the new media reality. We believe that SOURCE 18 will be an ideal partner to content owners as we together negotiate the exciting space of digital entertainment.”

Source : Moneycontrol.com

Television Eighteen Aquires Bigtree

TV18 Venturing Into E-Business Of Ticketing

Television Eighteen India Ltd has informed BSE that The TV18 Group's, Internet arm, Web18 on March 07, 2007, has announced that it has acquired a majority stake in Bigtree Entertainment Pvt Ltd., the industry leader in Movie and Entertainment Ticketing. This investment will further strengthen the Group's position in the Internet and Mobile Transactions space.

Bigtree Entertainment Pvt Ltd., is India's premier comprehensive entertainment ticketing applications and solutions provider. The Company was founded in 1999 during the nascent stages of the multiplex and live entertainment boom. Over the past 8 years, Bigtree has established a strong brand presence in the Indian market by offering its integrated entertainment ticketing solutions and services across 35 cities in India. Bigtree fulfills an important need for the entertainment industry by providing ticketing applications to cinemas and entertainment venues. This is done through a complete suite of software products ranging from box office ticketing, concessions management, web ticketing, loyalty management software, film programming, bar code ticketing, voucher management etc.

Bigtree also specializes in ticket selling services to end consumers. Cinemas and event organizers are offered a complete solution through 16 call centers, Internet ticketing and a mobile ticketing platform. The Company provides the necessary software, processes, systems, door delivery options, cash collection, warehousing and accounting services, and currently handles over 2.5 million ticketing transactions annually for all major exhibition chains / centre across the country.

This acquisition strengthens Web18's position in the e-transactions space, both on the PC as well as mobile phones. The Company had acquired a significant stake in Yatra.com and Jobstreet.com India a few months ago.

According to Haresh Chawla, TV18 Group CEO, "This acquisition is in line with our strategy to strengthen our position in the Consumer Internet space. The Internet and Mobile markets are key to the Group's future and growth."

Source : Bombay Stock Exchange

TV 18 & CBoP - Two Recommended Stocks Shake Hands

Ambit Web 18 - Latest Retail Brokerage In Town

Television Eighteen India Ltd has informed BSE that Ambit, Web18 and Centurion Bank of Punjab have on December 07, 2006 have announced a partnership to pursue stock braking business with a strong internet presence in India. The venture will be the first of its kind with 3 domestic players coming together to capture the fast brokerage market. Apart from stock broking, a range of financial services including distribution of third party products, portfolio management services etc. will be offered by the venture. With increasing internet penetration in the country, retail customers will be serviced online by the venture. It will leverage upon the online presence of Web 18’s several Internet properties including moneycontrol.com, easymf.com, poweryourtrade.com and commoditiescontrol.com as well as the extensive branch reach of Centurion Bank of Punjab.

The businesses will be managed by a professional board chaired by Mr. Rana Talwar. In a two-way structure, Ambit's securities business arm, Ambit Capital, will have 51% stake in the new company while Web 18, a part of the TV 18 group, will control 39% stake. Centurion Bank of Punjab will have the remaining 10% stake. Both Centurion Bank of Punjab and Web 18 will have 20% and 29%, shareholding, respectively, in Ambit Capital in which Ambit Corporate Finance has a 51% stake.

The 3 players bring together complementary strengths for the business. Ambit has extensive experience in providing financial services such as investment banking, stock broking and investment advisory services Web18, a TV18 Group Company, is a leading player in the Indian Internet space with presence and partnerships including the online financial space (moneycontrol.com), e-recruitment (jobstreet.com), online travel (yatra.com) and allied ventures with over 5 million unique visitors per month. With over 3 Million customers at its 249 branches, Centurion Bank of Punjab has strong presence across the country and has significant understanding of the retail segment in India.

Mr. Ashok Wadhwa, Partner & CEO, Ambit Corporate Finance said, "We are excited about partnering with a leading business media group and a leading bank in what we believe will create a truly world class Indian Brokerage House".

"Considering We18's strong positioning in the online information and transaction segment, a partnership in the e-broking space is a natural extension for us. With their expertise and strong reputation in the market place, our partner's will enable the venture in capturing a substantial market share in this business", says Mr. Raghav Bahl, Managing Director of Web18.

Speaking on the occasion, Mr. Shailendra Bhandari, Managing Director & CEO, Centurion Bank of Punjab said, "We are very pleased with this initiative, which will enable the bank to offer an increasing array of sophisticated financial products to our Mass Affluent and our high net-worth customers. By adding broking services, the bank will be able to complete its suite of Wealth Management Services, which currently includes complete financial advisory services and distribution of products such as mutual funds and life insurance. The bank is also pleased to be partnering with Web 18 and Ambit, who are leaders in their respective fields".

The joint venture is subject to obtaining all regulatory approvals. Amarchand Mangaldas are the legal advisors to the joint venture.

TV 18 - Demerger Will Unlock Value

Studio 18, Ashtavinayak In Films Deal

Studio 18, the holding company of the TV 18 group, has announced a Rs 100-crore co-production deal with Shree Ashtavinayak Films for four of its forthcoming film projects. The four projects are going to include directors such as Rohit Shetty (Golmaal), Priyadarshan (Hungama, Malamaal Weekly, Bhagham Bhaag), Abbas Mastan (Aitraaz, Ajnabee) and Neeraj Vora (Phir Hera Pheri).

Confirming the news Sandeep Bhargava, CEO, Studio 18, informed Business Standard that each of these projects are worth around Rs 25 crore and will spread over the next two years. One project will go on floor in the first quarter of 2007 and will be ready by mid-next year. The second one will go on floor by around mid-2007 and will probably be ready by early 2008. And the others would be in 2008. The names and starcast of the four projects have not been finalised.

Bhargava said this agreement was only because the two saw many complementary aspects in each other. “For instance, Ashtavinayak has a good record and has recently given films like Golmaal. Besides, it also has good presence in domestic distribution. We, on the other hand, come with good syndication record, marketing and international distribution strength,” he added. But the fact remains that today most production houses and studios prefer to get into a fairly large deal to ensure a consistency in their project pipelines.

Recently, the Anil Dhirubhai Ambani Group-promoted Adlabs is learnt to have entered into four film agreements with director Vipul Shah and actor Akshay Kumar.

Studio 18 that entered the fray in motion picture business just last month has already got into a co-production deal with BR Films for ‘Bhoothnath’ a medium-budget film starring Amitabh Bachchan and Juhi Chawla that will be ready for release in mid-May next year. It has also acquired ‘1971: prisoners of war,’ a film to be directed by Amrit Sagar (grandson of Ramanand Sagar). The unit has also signed on Sagar for his next directorial venture as well.