MAM
MEDIAPRO Selects Tedial for Corporate MAM Implementation
MUMBAI: Tedial, the leading independent MAM technology solutions specialist, has been selected by MEDIAPRO, a leader in the European audiovisual sector, to provide its Corporate MAM system for internal use within the MEDIAPRO Group of companies worldwide. System deployment is scheduled to begin in September 2019.
The solution, a multisite MAM, will provide several nodes that will be distributed worldwide to MEDIAPRO Group’s companies including Spain, LATAM, North America, France, and more. The solution will enable MEDIAPRO operators to find and access content distributed within each site facilitating the exploitation and distribution of media content.
The first site to become part of the corporate MAM is Globomedia, one of the first content producers in Europe, based in Madrid. Globomedia will digitize all its content, which will be allocated in the Tedial MAM. This site will be followed by the other MEDIAPRO Group of companies worldwide.
Jordi Pañella CEO of UNITECNIC, the systems integration company of MEDIAPRO says, “We selected Tedial’s Corporate MAM solution as it’s the best fit for our global plans moving forward. By providing multisite MAM our operators across the world can very easily share content between sites enabling a fully integrated production approach.”
Esther Mesas, CSO/CMO, Tedial adds, “We are delighted to announce this project at IBC 2019. MEDIAPRO is a global brand with sites around the world. Our corporate MAM will increase productivity, significantly improve workflows and reduce costs.”
MEDIAPRO is a multimedia communications group based in Spain with branch offices in Spain, LATAM, USA, Canada, France, and other countries around the world. Founded in 1994 in Barcelona, the company is involved in movie and television production as well as media (beIN Sports), with operations worldwide through its 58 offices distributed across 36 countries on 4 continents.
Brands
Flipkart completes reverse flip to India ahead of IPO
Walmart-owned e-commerce giant shifts domicile from Singapore to Bengaluru
MUMBAI: Flipkart has completed its restructuring to move its parent company from Singapore back to India, marking a key milestone as the Walmart-owned marketplace prepares for a potential initial public offering on Indian stock exchanges, ET reported, citing people aware of the matter.
The move, often referred to as a “reverse flip”, relocates the company’s legal home to India and aligns its corporate structure more closely with its largest market. It also clears an important regulatory step for Flipkart as it explores listing plans.
As part of the restructuring, several Singapore-based entities have been merged into Flipkart Internet Private Limited, which will now serve as the main holding company for the entire group.
The consolidation brings a number of major businesses directly under the Indian parent company. These include fashion platform Myntra, logistics arm Ekart, travel booking platform Cleartrip, healthcare marketplace Flipkart Health, and fintech venture Super.money.
Under the new structure, global investors including Walmart, Microsoft, SoftBank, and the Canada Pension Plan Investment Board will hold their stakes directly in the Indian entity rather than through an overseas holding company.
The redomiciliation required approval from the Indian government because Chinese technology company Tencent owns around a 5 to 6 per cent stake in Flipkart. Under Press Note 3, investments from countries sharing a land border with India require prior government clearance.
Flipkart had already secured approval from the National Company Law Tribunal in December. With the latest clearance from the central government, the company has now obtained all the regulatory approvals needed to complete the relocation, ET reported earlier.
Flipkart had originally shifted its holding structure to Singapore in 2011 to tap global capital more easily. However, as India’s capital markets have matured, several start-ups have begun returning their domiciles to the country ahead of public listings. Companies such as Razorpay, Groww, and Meesho have taken similar steps.
The company is now expected to move ahead with its IPO preparations and has begun early discussions with merchant bankers. According to people familiar with the matter, Flipkart could file its draft prospectus later this year, setting the stage for what may become one of the most closely watched listings in India’s e-commerce sector.
Flipkart has been majority-owned by Walmart since 2018, when the US retail giant acquired a 77 per cent stake in the company for $16 billion in one of the largest e-commerce deals globally.
