NRI or Foreign? Zee pulls out of FM race
MUMBAI: The Subhash Chandra owned Zee Telefilms has again landed into equity problems.
Nimbus Communications is on an expansion spree and has set aside RS 2 billion for this purpose. As part of the expansion plan Nimbus will be airing two satellite channels, will launch a set of portals is a JV with IDBI and will be launching new TV software production facilities. To fund all these projects Nimbus would be coming out with an IPO of 30% of its equity. One of the channels would be called Showbiz TV. The channel, as one can guess form the name, would primarily be an entertainment channel. The channel would focus on news relating to films, stars, events and general entertainment. The second channel is likely to be a channel devoted exclusively to women audience.
The two portals which the company is planning to set in a joint venture with IDBI would be focusing on entertainment and e-commerce. The brandname given to this venture is nirvanazone.com.
In addition to the new ventures the company would also be spending RS 900 million to expand its current operations like software production, media marketing and airtime sales.
The Rathikant Basu promoted Broadcast India has planned to launch four encrypted regional channels--Bangla, Punjabi, Gujarati and Marathi. The channels are expected to be on air within the next six months through Insat 2E. The company is under negotiations with Videsh Sanchar Nigam Limited (VSNL) for uplinking.
Broadcast India is also in the process of content creation for their forthcoming Internet project. The company also has plans to get in the radio market once the Government reviews its policies.
Murdoch owned News Corporation has a 5 per cent stake in the company which be raised only till 20 per cent as per the Government regulations.
Basu has pumped in RS 1200 million for the regional channel venture and the leading consulting firm Arthur Anderson will work on the business plan. Venture capital funding will be seeked by Basu.
The regional channels will be a part of the Star TV bouquet following the distribution agreement with Star TV.
The 40 year old Kermit Channel which entered India in 1999 has drawn up strategies for the year 2000. The Jim Henson Company‘s and Hallmark Entertainment Television‘s joint venture has drawn up a campaign which will be called "K2K" to design a creative platform to introduce viewers to the new programming that will be shortly premiered on the channel and to provide a timely and contemporary platform to showcase the human characteristics of ‘Kermit the Frog‘s‘ personality which viewers can identify with as a positive role model.
The K2K campaign would be an image campaign and would have a separate logo. It portrays Kermit as the world‘s greenest friend, hero, heartthrob and a celebrity. New shows like ‘Jim Henson‘s Construction Site‘, ‘Brats of the last Nebula‘ and ‘The secret world of Alex Mack‘ would be introduced which have a blend of entertainment as well as educational value for the kids mainly aged between 2 and 12. The on-air and print campaigns for the K2K campaign have been designed in-house.
The 24 hour pay channel claims to have a penetration of over four million Indian households.
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