GECs
Balaji board to meet on merger with HFCL Nine tomorrow
Balaji Telefilms has called a meeting tomorrow of its board of directors on the future of its strategic tie-up with HFCL Nine Broadcasting.
Balaji, in a notice to the National Stock Exchange last week and the Bombay Stock Exchange yesterday, said the meeting was being convened to consider a review of the proposed merger of Nine Network Entertainment India with the company.
HFCL (Himachal Futuristic Communication Ltd) Nine Broadcasting is a 51:49 per cent holding company held by Vinay Maloo and Australian media magnate Kerry Packer. HFCL Nine was to take a 20 per cent stake in Balaji Telefilms.
Balaji’s decision has been influenced by the “K factor” and the uncertainties surrounding HFCL Nine’s three-hour prime time slot on DD Metro. Balaji creative director Ekta Kapoor’s strong belief in the letter K as a good luck talisman for all Balaji projects somehow doesn’t seem to extend to HFCL, one of the currently infamous K-10 scrips. These were the scrips favoured by cornered bull operator Ketan Parekh. It is another matter that Parekh’s investment firms have a 4.5 per cent stake in Balaji.
Parekh is in the custody of the Central Bureau of Investigation but that doesn’t seem to have prevented the HFCL scrip witnessing an abnormal upsurge in the last few days.
HFCL Nine paid Rs 1,210 million last year for a three hour prime time slot on DD Metro. It has been lobbying for a long-term contract for its DD Metro slot ranging between five and 10 years with a revenue-sharing clause. This hasn’t been accepted and instead HFCL Nine has been offered the option of extending its contract by six months, ending March 2002 or by another 18 months, up to March 2003.
The matter is at a stalemate at present and the uncertainty surrounding the deal has only added to the doubts within Balaji about the merger.
The deal between the two parties, announced last November, involved a swap ratio where 65 shares of Balaji would be swapped for 200 shares of HFCL Nine.
Balaji Telefilms was to acquire Nine Entertainment India, a wholly-owned subsidiary of Nine Broadcasting India, for Rs 340 million. Post-acquisition, HFCL Nine was to hold 20 per cent equity in Balaji Telefilms.
GECs
Samsung TV Plus launches Kings of Comedy channel
New free FAST channel brings iconic Hindi comedy shows to millions of Samsung Smart TV owners.
MUMBAI: Samsung TV Plus has just turned up the laughter volume and it’s completely free. The leading free ad-supported streaming television (FAST) service in India has launched Kings of Comedy, a premium comedy channel featuring some of the country’s most beloved primetime shows. Available exclusively on Samsung TV Plus, the channel delivers back-to-back hits including Comedy Nights with Kapil, Khatra Khatra Khatra, and Comedy Nights Bachao, with no login or subscription required.
The launch marks a milestone for free streaming in India, offering audiences a dedicated comedy destination directly from their Samsung TV home screen. It arrives as Samsung TV Plus India celebrates its 5th anniversary, during which the service has grown its monthly active users by 42 per cent and more than doubled its total viewing hours. The platform now offers over 180 free channels across 14 languages.
Samsung TV Plus India general manager and head of business development Kunal Mehta said, “Comedy is the heartbeat of Hindi entertainment, and Kings of Comedy brings together the shows Indians already love, completely free on their Samsung TV. Our focus remains the same take the content people know and make it effortless to access.”
Globally, Samsung TV Plus has surpassed 100 million monthly active users across more than 4,500 channels, solidifying its position as one of the world’s leading free streaming services.
Kings of Comedy is now available on all compatible Samsung Smart TVs. For viewers seeking non-stop laughter without any cost, this new channel delivers a royal treat proving that sometimes the best entertainment really does come with no strings (or subscriptions) attached.
