MobileNXT divests 35% stake to TV18

Bangalore-based MobileNXT Teleservices, the Rs 24 crore mobile retail chain has offloaded a 35 per cent stake to media firm, TV18. No transaction details have been disclosed.

Romy Juneja, chief operating officer, MobileNXT, said, “This deal is the first of its kind between a media firm and a mobile retail chain. We have already planned an ambitious expansion plan which will be executed over the next three years.”

MobileNXT was promoted by Vijay Menon and Romy Juneja with an initial investment of under $2 million raised from Avendus Advisors, an investment bank based in Mumbai, and some high net worth individuals like Dan Sandhu, in April 2006.

With this partnership consumers will get a combination of online and offline channels where they can check all details on the net, as well as shop at the store. MobileNXT will also be a window to Indian expats.

Read more in The Economic Times article.

MobileNXT will benefit from TV18 for content, whether it is ringtones, movies, snippets, creative aspects like entertainment, web creative as well as media advertising.

FT, Liberty in race to buy DSE stake

Financial Technologies India Ltd, media house TV18 and Liberty Shoes are among the seven bidders interested in buying a stake in Delhi Stock Exchange as the defunct bourse gets ready to restart operations.

"So far we have received seven bids including Financial Technologies for 51 per cent brokers' stake in the exchange... trading can start within four months from now," B B Sahny, DSE Director and chairman of the de-mutualisation committee, said.

Two foreign entities Kuwait-based Noor Investments Ltd and US-based Horizon Assets Management Company, domestic footwear manufacturer Liberty Shoes and a group company of TV18 have also bid for picking up stake in the bourse.Few others are also expected to join the board, he said, adding, "two Asian exchanges are also in talks with us".

Sahny said the bids have been received at an enterprise value in between Rs 400 crore-500 crore. At this value, the share price comes about Rs 130-165 apiece, he added.

The de-mutualisation process would be completed by the August 28 deadline set by market regulator SEBI, he said, adding, it will take another 100 days to resume operations.

TV 18 , Lokmat come together for Marathi news channel

The Maharashtra-based Lokmat Group of Newspapers, which owns the Marathi newspaper Lokmat, is in talks with TV 18 Group to launch a Marathi news channel.

The Marathi news channel will be called ‘IBN Lokmat’ and is likely to go on air by the year-end. Sources in the know confirmed the development and added that the news content would be provided by IBN.

With the launch of IBN-Lokmat, the TV 18 Group would further strengthen its foothold in the news space. The group last year forayed in to Hindi news broadcasting by acquiring Channel 7 from Jagaran Group, through CNN-IBN.

At present, in the non-English news space the group operates channels two channels - CNBC Awaaz, a Hindi business news channel and Hindi news channel IBN 7.

Read more in The Business Standard article.

Viacom, TV18 to roll-out Viacom-18 -Video

Viacom Inc, US and the TV18 Group today announced the creation of a new 50:50 joint venture operation christened Viacom-18.

According to an official release issued by TV18 Group firm Network 18 Fincap to the BSE today, the strategic alliance will include television, film and digital media content across brands to build a multi-platform entertainment company.

As part of the agreement, Viacom-18 will launch a new Hindi-language general entertainment cable and satellite channel in the country within the next year. It will include original, locally produced programming and acquisitions. MTV Networks (MTVN), a unit of Viacom, will contribute its 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 the television brands will be developed and distributed to Indian consumers. The joint venture will also syndicate MTVN programming and newly produced content.

Read more in The Business Standard article.

TV18, Viacom set for JV

Media conglomerate TV18 group is likely to sign an agreement with US entertainment major Viacom to float a general entertainment joint venture.

The 50:50 venture is likely to be signed tomorrow during the visit of Viacom CEO and President Phillipe P Dauman, who is arriving in India late tonight, industry sources said.The JV is likely to invest about Rs 500 crore and Viacom's popular music channel MTV in India is understood to be transferred to the joint venture, the sources said.

The planned JV between Viacom, which has channels like VH1 and Nickledeon, and TV18, one of India's major electronic media groups running business news channels and a website, comes at a time when television entertainment sector in India is witnessing a churn.

Viacom also owns Country Music Television, Spike TV and more than 120 networks around the world. It is also one of the leading creators of programming and content having media platforms such as Paramount Pictures and Paramount Home Entertainment.

Infy, TV18 set up media process outsourcing firm

Infosys BPO (formerly Progeon) and media company TV18 have entered into a strategic alliance to launch Source18, a media process outsourcing company that will offer a range of services to media and entertainment companies globally. Among its first few clients is National Geographic International (NGCI). The new firm will re-purpose current as well as archival content for the mobile platform.

This is the second such major alliance in the media BPO space, the first being the tie-up between NDTV and Genpact, announced a year ago. To begin with, there will be no equity tie-up between Infosys BPO and TV18, but the nature of the relationship could change in the future, Haresh Chawla, CEO, TV18, said. Amitabh Chaudhary, CEO and MD, Infosys BPO, said that media and entertainment would be a key growth driver for the company.

The media process outsourcing opportunity is huge since most of the existing contents worldwide are in the analogue form and they need to be digitised for new platforms.The global media and entertainment industry is expected to grow to almost $2 trillion by 2008, and in view of the proliferation of content in multiple formats across media platforms, there is a sizeable business opportunity in the media outsourcing market waiting to be tapped.

Rel Cap buys 5% stake in Network 18

Reliance Capital, a Anil Dhirubhai Ambani Group firm, has acquired 5% stake in Network 18, the group holding company of broadcasters TV18 and GBN.

According to a release issued by Reliance Capital to the BSE today, the company has acquired 25.55 lakh shares, representing 5.02% stake in Network 18 Fincap, through open market transactions on May 10.When contacted, an RCL spokesperson confirmed the deal.

The transaction comes on the heels of RCL's open offer for acquiring 20 % stake in television broadcaster TV Today Network, which runs Hindi news channel Aaj Tak and English news channel Headlines Today.

The company had announced an open offer would be made at a price of Rs 130.50 per share amounting to approximately Rs 150 crore.

PE investors to buy 24% in NDTV Networks

A clutch of private equity (PE) investors, which include Lehman Brothers, Goldman Sachs, CSFB and eight others, would acquire nearly 24 per cent stake in NDTV Networks, a fully owned subsidiary of NDTV India, for $120 million. The valuation of the new company would, thus, be over Rs 2,200 crore.

The UK-based NDTV Networks has five companies in its fold. It holds 100 per cent in NDTV Labs, which will develop the market and sell software and technology products; NDTV Imagine, which will operate a non-news Hindi mass entertainment channel; NDTV Lifestyle, which will provide content to TV channels in India and abroad; and NDTV Convergence, which houses all dotcom and mobile properties of the group. NDTV Network also owns 50 per cent in NDTV Media services with Genpact for media process outsourcing.

NDTV India controls news channels, NDTV 24x7, NDTV Profit, among others.

The group flagship has a market capitalisation of Rs 1,992 crore compared with Rs 3,609 crore of rival TV18.

The broadcaster is also believed to have scrapped its initial public offer for the moment and may reconsider it later.