Media agencies
IndusInd sets off Rs 928 m against share premium account
MUMBAI: Saddled with bad debts and a “dud” investment on conditional access system (CAS), leading multi system operator IndusInd Media & Communications (IMC) has done a financial restructuring.
IMC has set off the value of set-top boxes and smart cards of Rs 580.6 million against its share premium account. This is part of the Rs 1 billion total investment the company has made towards CAS.
The company has also set off bad debts of Rs 347.77 million against its share premium account as on 31 March, 2004. IMC has an additional debt burden of Rs 220 million.
“We have been having problems of receivables. Besides, the position on CAS was not clear. So we thought it would be a prudent approach to clean up our balance sheet,” says a senior official in the company.
IMC also felt substantial marketing efforts and extensive awareness campaigns would be required to push for CAS. For long term interests, STBs needed to be seeded on trial basis or deployed under rental schemes to make them attractive.
IMC has Rs 1134.43 million left in its share premium account as on 31 March, 2004, after making these adjustments. This will be further augmented by an amount of Rs 530.79 million on completion of issue of shares to Kudelski SA.
Last year, IMC entered into an agreement with Kudelski SA, Switzerland for issuing around 3 per cent of its equity for $12 million.
Media agencies
Cape May Studios partners with Amagi to unleash global screams with Panic TV and Pánico TV Español
MUMBAI: In a move that marries scares with scalability, Cape May Studios has partnered with cloud-based TV technology firm Amagi to launch two adrenaline-pumping FAST channels: Panic TV and Pánico TV Español. The next-gen media company, known for tapping into fan-fuelled niche communities, has set its sights on global viewers hungry for high-stakes thrills.
Panic TV delivers a mix of action, horror, sci-fi, crime, and mystery curated for millennials and gen z, while Pánico TV Español brings the same punch in Spanish. The channels promise content for those who crave recreational fear, from creature features to paranormal thrillers.
Amagi will handle everything from channel creation and playout to global distribution. The tech firm’s cloud-based FAST solutions will help Cape May Studios break out across north America, latin America, Europe, and beyond, without the weight of traditional broadcast overhead.
“The convergence of genre storytelling and digital streaming has never been more potent”, said Cape May Studios founder & CEO Sachin Gokhale. “With Amagi’s global infrastructure and proven expertise in FAST, we can now scale our content strategy across continents, languages, and platforms — meeting audiences where they are, with the stories they crave”.
Amagi co-founder & CRO Srinivasan KA added, “Cape May Studios is entering the FAST space with a sharp brand identity and an eye on global opportunity. We’re excited to help them bring Panic TV and Pánico TV Español to life through our unique solutions in cloud playout, ad insertion, and seamless distribution to top-tier digital platforms around the world”.
With an imminent rollout on major FAST platforms, Cape May Studios is betting on genre content to become a global mainstay, tapping into both English- and Spanish-speaking markets. As indie studios find new ways to bypass legacy models, the Cape May-Amagi partnership underscores the growing power of cloud-native tech in international broadcasting.
