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.

If there were any doubts as to how Kaun Banega Crorepati‘s superstar host Amitabh Bachchan would perform while dealing with precocious kids in the junior variant of the celebrated show, they can be safely be laid to rest.

The first episode, which aired yesterday at 10:00 am, must surely get an A+ rating for a package that was just right. Right from the the song sung by Bachchan in his inimitable baritone that was actually a kind of introductory note as to the purpose of starting Junior KBC to the kids in what was clearly an enjoyable experience for everyone involved.

Everything, from the sets to the lighting, was faithful to the "adult KBC" in terms of the look as well as the production values (you don‘t mess with a winning concept). Bachchan wore a lighter shade vis-?-vis his attire but that was about it.

What was different was the feel. Bachchan‘s way of dealing with kids was a revelation. He didn‘t try too much of the hee-haw stuff but still managed to keep the kids completely at ease. Totally attentive to what they were saying as well as making sure there was no confusion in their minds as to what it was that he was trying to tell them.

And the kids responded with aplomb. It was quite clear they were having a ball while at the same time making it clear to everyone watching (if it needed telling) that kids were much better at the quizzing business than adults.

The Big B, consummate performer that he is, made those little changes in his body language which made all the difference not only with the tempo that he maintained (speeded up just that wee bit) but also in his gestures. He was far more effusive with more pronounced hand and body movements but at the same time kept himself just that much in check so as not to seem as if he were going over the top.

And the sets are well designed, within the available resources or rather constraints, to create an ambiance suitable for children. The comfort levels could be seen on the faces of most of the participants.

The questions asked were by and large well thought out taking into consideration the normal subject interest and average intelligence as well as exposure to information of any middle class child.

As for the moolah, the participants, all between 10 and 17, will not get any cash in hand but have their winnings put into a Children‘s Gift Fund to which they will have access only after they turn 18. For instant gratification, though, a child who gets to the hot seat is given a computer. The rewards Bachchan offers are given in terms of points which have some ratio factored value. On the first day a Class IX schoolboy from Meerut, Abhisht Pandey, walked away with Rs 6,40,000.

Whether Junior KBC will able to lift up senior KBC remains to be seen but as far as Sunday mornings go it looks a winner. The other channels are offering mythological like Vishnupuran on Zee and Shree Ganesha on Sony and cartoon programming, so the channel looks set to to pack in the viewers.

Sameer Nair, Star‘s executive vice president programming has said he was looking at a two digit TRP rating for the show. That doesn‘t look like such a tall order after all. Especially considering the ease with which the Big B has taken to the new format.