The Foreign Investments Promotion Board has greensignalled US-based Loral Space & Communications proposal to set up a television software company jointly with the Modi Entertainment Group (MEG) in India. MEG will hold a 51% stake in the new company while Loral will have a 49% stake. Loral and MEG had got together a year and a half ago to launch a direct to home television service for India. The joint venture between the two will in all probability produce software apart from bringing together a channel bouquet for its DTH project.

WORLD CUP FEVER PUSHES UP TV SALES

With the World Cup Cricket tournament being telecast on ESPN-Star Sports, sales of colour TV sets in India have soared last month. Television manufacturers estimate that approximately 500,000 television sets have been bought in May 1999 when the league matches of the World Cup were being telecast. Last year, sales of TVs in May were at 300,000. Manufacturers expect the rising sales trend to continue this month too until the end of the World Cup.

ESPN-STAR SPORTS IN FINE FETTLE

ESPN-Star Sports had a relatively trouble-free third week with cable operators refraining from blocking the television commercials on the sports channels, Star Sports and ESPN, during the World Cup telecast. The channels' managements say that they still have about 10% of World Cup cricket commercial airtime available for sale to advertisers.

DD OFFICIAL SEEKS DEFAMATION SUIT

DD deputy director general (finance) P.K. Seth has sought permission from the acting Prasar Bharati chief O.P. Kejriwal to file a defamation suit totting up to Rs 50 million against Nimbus Communications promoter Harish Thawani. Thawani had alleged that Seth was party to misappropriation of DD funds in the controversy-laden DD World Cup air time marketing deal. Anywhere from Rs 75 million to Rs 200 million paid by advertisers for commercial time on DD during the World Cup has gone missing, depending on - whether it is Stracon, which had the air time marketing rights earlier, or Nimbus, which has them now - who is making the allegation.

OCEANSAT SWITCHED ON

The ocean colour monitor (OCM) aboard the Indian Remote Sensing Satellite (IRS-P4 or Oceansat) was switched on during the satellite's 117 th orbit over the earth on 3 June. The satellite was launched by the PSLV-C2 along with another two experimental foreign satellites last month. The OCM is a solid state camera used to collect data on chlorophyll concentration, phytoplankton, and obtain data on atmospheric aerosols and suspended sediments in water. Earlier, the satellites other payload - the multifrequency scanning microwave radiometer was switched on.

OPTICAL FIBRE NETWORK TO BE LAID OFF MUMBAI

The Maharashtra State Road Development Corporation (MSRDC) is to lease out capacity on a 1,000 km optical fibre network along an expressway between Mumbai and the city of Pune. The fibre is being laid by Bharati Duraline within solid lubricated HDPE telecom ducts. The cost of the project is Rs 60 million. Capacity on the network will be thrown open to users such as telecom service providers, cable operators, and Internet Service Providers.

DMB&B BUYS UP INDIAN AD AGENCY

US-based marketing communications firm D'Arcy Massius Benton & Bowles (DMB&B) of the MacManus group, has terminated its affiliation with Indian ad agency Madison Advertising. The company has chosen to instead take a majority stake in creative boutique Ambience Advertising, which has clients such as Coca-Cola, Taj Hotels and DHL. The new entity is to be christened as Ambience D'Arcy.