News Broadcasting
Astro to buy 26 per cent in Hungama TV for $7 million
MUMBAI: Astro All Asia Entertainment Networks Ltd is buying 26.01 per cent stake in Hungama TV for a consideration of $7 million (Rs 310 million).
UTV announced on Wednesday that Astro or its affiliates would buy the stake in United Home Entertainment Ltd (UHEL), the company which runs Hindi kids channel Hungama TV, by subscription to equity, preference shares, convertible debt or a combination of such instruments. The company, however, did not state the acquisition price.
“The size of the deal is $7 million, putting the company valuation at a little under $28 million (Rs 1.24 billion),” according to a source close to the deal.
Indiantelevision.com was the first to report that Astro was planning to pick up 26 per cent in UHEL. Hungama TV plans to expand into regional languages, initially into Tamil and Telugu.
UTV’s holding in UHEL will be 49.5 per cent and Astro’s 26.01 per cent, UTV Software Communications COO Ronald D’Mello said. The balance will be with UTV founder-promoter Ronnie Screwvala.
“Hungama TV is planning to expand into regional languages in the next 6-9 months, the first priority being in Tamil and Telugu. With investment of Astro into UHEL, we will now look at expanding our operations in broadcasting and content in other Indian languages and also in South East Asian countries where our partner has existing operations. Astro is looking at starting channels in Indonesia and Malaysia where we will be involved in developing the kids channel. We are also looking at other kids segment including content for the age group between 4-14 years,” D’Mello said.
News Broadcasting
Rajesh Sundaram joins NDTV Profit as senior editor, assignment
The 32-year newsroom veteran has launched channels on three continents and covered everything from 9/11 to South African television
MUMBAI: NDTV Profit has bolstered its newsroom with a hire who has done rather more than most. Rajesh Sundaram, a journalist with over three decades of editorial, managerial and consultative experience across India and international markets, joins as senior editor, assignment, tasked with sharpening the network’s newsgathering and real-time response.
Sundaram’s career reads like a tour of Indian media’s most formative moments. He began at Businessworld in 1994, moved to Zee News as bureau chief across Mumbai and Chennai, then joined NDTV in 2002 as part of its political bureau during a particularly febrile period in Indian politics. A stint as India correspondent for Al Jazeera International followed, where he covered key geopolitical developments and got his first serious taste of the global newsroom.
What sets Sundaram apart, however, is his serial channel-launching habit. At NewsX, he helped get the operation off the ground. At Headlines Today, part of the India Today Group, he served as editor. At News Nation, he helped launch the Hindi news channel and its digital ecosystem. He then crossed continents to lead the launch of ANN7 in South Africa as editor-in-chief, overseeing both television and digital. Back in India, he launched Tamil news channels News7 Tamil and Cauvery News, and later served as principal consultant for the launch of Marathi channel Lokshahi. Most recently, he helped build and lead the Press Trust of India’s video service and content studio, before stints consulting for Business Today and The Himalayan Times.
Rahul Kanwal, chief executive and editor-in-chief of NDTV, left little doubt about what Sundaram is expected to deliver. “The assignment desk is where a newsroom’s intent becomes action,” he said. “Rajesh brings a rare combination of field experience and leadership in building news operations at scale.”
Sundaram has reported from across India and the world, covering elections, civil conflicts, the aftermath of the 9/11 attacks and the 2008 US presidential election.
At NDTV Profit, he will lead the assignment desk, driving editorial coordination and real-time response across markets and breaking developments. For a business news network sharpening its focus on speed and multi-platform delivery, it has hired a man who has built newsrooms from scratch on three continents. The assignment desk is in good hands.
