News Broadcasting
Zee plans bonds issue to fund DTH, movies
MUMBAI: It has put all its fingers in as many pies and is gunning for more. Obviously, it needs funds to keep the mega plans going. So, Zee Telefilms is planning to raise funds through a bonds issue in the international market to finance its ongoing and upcoming ventures. Zee Telefilms director-finance Hitesh Vakil told indiantelevision.com that the company has secured RBI clearance to raise up to $ 90 million in funds by way of debt.
The finance is being sought for multiple reasons. The media major is looking to infuse capital into conditional access equipment and its direct to home (DTH) venture that was soft launched by ASC Enterprises Ltd on 2 October 2003. Zee’s DTH platform is already operational and is marketing the network’s various channels.
RBI clearance for raising up to $ 90 million obtained
Applied towards
Direct to home (DTH) venture
Conditional access equipment
Production of feature films by Zee’s Films Division
Paying out high cost debts and the over-riding interest of Zee and its subsidiaries
The funds would also be used for producing feature films made by the Zee Telefilms Ltd Films Division. Zee’s film division had started with the block buster Hindi film Gadar – Ek Prem Katha. Films Division CEO Nittin Keni had told indiantelevision.com in an interview earlier that three movies were in the pipeline – One Dollar Curry- an Indo-French production directed by Vijay Singh, Khosla Ka Ghosla with Anupam Kher and Bhagmati – a live animation film produced by the Zee Institute of creative Arts and directed by Ashok Kaul.
The films will be distributed by the newly formed Zee Rajshri Film Distribution Company. The company is a tie-up between Zee Telefilms Ltd and Rajshri Pictures P Limited to manage distribution of all films produced or co-produced by Zee, Padmalaya and Rajshri. It will also provide a distribution platform for the entire film industry.
Meanwhile Zee Telefilms is continuing on its ‘cleanliness drive’. The funds generated by the bonds issue will also be channeled towards paying out high cost debts of Zee and its subsidiaries. This, Vakil said, would help Zee save on high interest costs as well.
Zee is going through an extensive reorganisation. In a meeting held on 15 December 2003, the Zee board had approved the merger of group companies ETC Networks and Econnect India Ltd as part of a larger corporate restructuring plan. Earlier in 2003, Zee had tried to clean up its balance sheets by writing off completely corroded investments in its subsidiaries Econnect and Zee Interactive Ltd.
Recently, the company also went through an extensive portfolio reshuffle at the senior management level.
The ZTL board had also approved the merger of five Mauritius based operating entities viz. Software Suppliers International Ltd (SSIL), Zee Telefilms International Ltd (ZTIL – syndication of ZTL content), Zee MGM (managing movie channel MGM), Expand Fast Holding Ltd, BVI (EFHL – providing satellite services to group broadcasting companies) and Asia TV (Africa) Ltd (marketing and distributing the Zee Network in Africa) with Asia Today Ltd, Mauritius (broadcasting of Zee TV and Zee Cinema).
The fresh funds fit in well within the recent restructuring initiative taken up by Zee. This because once Zee gets rid of the high cost debts and the heavy interests riding on them, it would no doubt result in greater operating and cost efficiencies for Zee.
News Broadcasting
CNN-News18 to air live counting day coverage for five state election results on May 4
The channel is rolling out its biggest election coverage machinery yet for results day on 4th May
NOIDA: The votes have been cast. Now comes the reckoning. CNN-News18 is pulling out all the stops for results day on 4th May, when counting begins across five battleground states — West Bengal, Assam, Kerala, Tamil Nadu and the Union Territory of Puducherry — in what promises to be one of the most closely watched electoral verdicts in recent memory.
The channel’s coverage, titled Battle for the States: The Verdict, kicks off at 7am and runs through the day across linear TV, connected television and YouTube. It is the culmination of CNN-News18’s multi-format editorial initiative, Battle for the States, which has tracked the polls from the beginning under the theme Road to Power.
At the operational heart of the coverage will be the Live Results Hub, the channel’s central command centre built to collate, verify and process real-time data flowing in from reporters stationed at counting centres across constituencies. The hub combines newsroom intelligence, analytics and on-the-ground reporting to deliver what the channel promises will be the fastest and most accurate results coverage in English news.
Leading the on-air charge will be primetime anchors Rahul Shivshankar, Anand Narasimhan, Aman Sharma, Nabila Jamal and Shivani Gupta. They will be joined by a wide panel of commentators including author Chetan Bhagat; GVL Narasimha Rao, senior leader of the BJP; Smita Prakash, editor of ANI; activist Saira Shah Halim; political analyst Sumanth C Raman; Abhijit Iyer Mitra, senior fellow at IPCS; Amitabh Tiwari, founder of VoteVibe; columnist Abhijit Majumdar; Nalin Mehta, managing editor of MoneyControl; political analyst Tehseen Poonawalla; senior journalist Subir Bhaumik; and political analyst Manojit Mandal.
Shivshankar, who serves as editorial affairs director at CNN-News18, set out the stakes plainly. “Counting day is one of the most watched events in the electoral cycle, where speed and credibility are tested in real time,” he said. “Battle for the States: The Verdict is built on that promise, combining ground reporting, sharp analysis and cutting-edge election technology to give viewers the clearest and fastest route to the verdict. On May 4, CNN-News18 will once again be the nation’s most trusted channel to witness democracy in action.”
Smriti Mehra, chief executive of English and Business News at Network18, framed the coverage in broader terms. “Elections are defining national events, and audiences turn to brands they trust in moments that matter,” she said. “CNN-News18 has consistently led from the front in every election coverage, and this special programming reflects the scale of our ambition and editorial strength.”
The channel has form here. It claims to have been India’s most preferred English news destination for election results for the past 20 years, covering everything from the 2024 general elections to the Delhi, Maharashtra, Bihar and BMC polls on the back of what it calls an “Always First, Always Right” record. Five states, one day, and a nation waiting for answers. The clock starts at 7am on 4th May.
