GECs
GV Films plans ambitious Rs 10 billion entertainment project, looks for JV
MUMBAI: Chennai-based GV Films is in talks with an Indian company to jointly set up an ambitious Rs 10 billion entertainment township in Panvel near Navi Mumbai.
The company is also in negotiations with multinational companies like Panasonic for technology support. “We are in talks with Panasonic and others,” says GV Films chairman Mahadevan Ganesh. On being queried as to whether Panasonic could participate in equity as well, he refused to comment, saying that the company “hopes to firm up plans within a week. I can’t talk anything on our plans at this stage.”
Sources say GV Films is weighing the option of going for a FCCB (Foreign Currency Convertible Bond) issue, which is likely to be in the size of Rs 1.25-1.50 billion to fund this project. The balance Rs 500-750 million would be generated internally. The joint venture partner would bring in the balance amount to fill up the equity component. On consideration is the formation of a 50:50 joint venture. Around 60 per cent of the funding for the project would be through debt. “These proposals are being considered. But nothing has been finalised yet and would depend on several factors,” says the source.
GV Films board is meeting on 20 October to consider the proposal of joint venture with another Indian entity for executing a ‘Digipolis’ (Entertainment village / Theme Park). It will also consider raising of resources by way of GDR / ADR / FCCB Issue. “FCCB is the most likely route to raise funds. For GDR/ADR, it will be difficult for the company to command a premium at this stage,” says the source.
GV Films is in the process of putting in place a revival strategy after it had slumped to a position where revenues were severely affected. Soon after a new management came in place, the company came up with a rights issue. Recently, GV Films has signed up with Jaya TV to produce the country’s first 3D serial on television. In fact, GV Films is making two 3D live action shows for Jaya TV – Paramapadam (Snake and Ladder) and Mayawi (Invisible Man). “We will get around Rs 700000 for each one-hour episode. We have tied up with a Hollywood firm for the technology. It will be digitally encoded there. Besides, the director of photography will be from Hollywood,” Ganesh had earlier told Indiantelevision.com.
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.
