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Chandra to pump in Rs 7.5 billion into WWIL, Dish
MUMBAI: Subhash Chandra has big investment plans for the two de-merged entities of Zee Telefilms Ltd (ZTL). Wire and Wireless (India) Ltd. and Dish TV, engaged in the cable TV and direct-to-home (DTH) businesses respectively, will together be pumping in Rs 7.5 billion to fund their expansion plans.
WWIL will have an investment requirement of Rs 5 billion over the next three years to give a big push to digitisation of cable TV, broadband and voice services. The cable company also expects to rope in an investor. “WWIL has a business plan which would take in an investment of Rs 5 billion over three years. The strategic thrust will be on rollout of digital cable. We are also looking at triple play offerings. We have a network which can be made available to telecom operators for voice,” Essel Group chief executive officer of corporate strategy and finance Rajiv Garg tells indiantelevision.com.
WWIL is looking at a debt-equity ratio of 1:1. “The net worth of the company currently is not that strong to support that sort of debt. We would like a 1:1 debt-equity ratio,” Garg says.
Operating revenues from ZTL‘s cable line of business stood at Rs 1.5 billion for the fiscal ended 31 March 2006 while net profit was at Rs 7 million.
For Dish TV, the DTH outfit, there is a Rs 2.5 billion investmen plan over the next two years. The net expenses for DTH operations thus far is Rs 3.8 billion, says Garg. “We project a gross revenue of Rs 3.2 billion from our DTH business in FY07. We aim to have 2.4 million DTH subscribers in the fiscal while the average revenue per user (ARPU) should go up from Rs 190 to Rs 250 a month because of the launch of value-added services,” he adds.
The operating revenues for the DTH business stood at Rs 818 million in FY06. On the back of subsidies and marketing expenses, the DTH operations incurred a loss of Rs 790 million during this period.
The de-merged DTH and cable companies are likely to opt for an initial dilution of up to 26 per cent to investors. They are open to both private equity and strategic investors.
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Canva acquires animation and AI startups Cavalry and MangoAI
The deals strengthen Canva’s push into enterprise and AI-led design workflows
AUSTRALIA: Global visual communication platform Canva has stepped up its acquisition drive, buying UK-based 2D animation platform Cavalry and US-based AI startup MangoAI to deepen its AI-powered creative stack.
Cavalry, whose tools are used by brands including Amazon, Meta, Google and Netflix, will strengthen Canva’s motion design capabilities. The deal builds on Canva’s 2024 acquisition of Affinity, which has crossed four million downloads since launch. With Cavalry, Canva now counts seven Europe-based acquisitions, underscoring its global expansion strategy.
MangoAI, an early-stage startup focused on video advertising optimisation, will integrate its reinforcement learning systems into Canva AI. The move aims to enable brands to generate personalised marketing content in real time, cutting production cycles while improving campaign performance. MangoAI co-founder Vinith Misra will join Canva as reinforcement learning lead in its research lab.
Canva co-founder and chief operating officer Cliff Obrecht said the acquisitions reflect the company’s ambition to make professional-grade creative tools more accessible without sidelining human creativity. The goal, he said, is to bring everything from vector to motion design into a single, integrated suite.
The company now reports 265 million active users, including 31 million paid subscribers, and $4 billion in annualised revenue, up 36 per cent year on year. The latest buys further position Canva against rivals such as Adobe and Apple’s Creator Studio as it pushes deeper into enterprise workflows.
Canva head of pro design marketing Liam Fisher, said AI is intended to act as a creative assistant rather than a replacement, reinforcing the primacy of craft and individual design judgement.
