• MGM Networks to launch channels in Portugal, Korea

    Submitted by ITV Production on Mar 30, 2002
    News Headline

    These channel agreements, combined with MGM Networks‘ launch in the Middle East earlier this year, nearly doubles the number of countries in which MGM has established a channel presence to date. MGM now has equity interests in foreign channels that reach more than 40 countries around the world, according to an official release. In India, the network has a joint venture with broadcaster Zee for its English movie channel Zee MGM.

    In Europe, an MGM Movie Channel is planned to launch in May in Portugal. MGM commenced its Europe footprint by launching the MGM Movie Channel in Malta on 1 February and in Russia on 1 March this year. The MGM Movie Channel was launched in Malta on Melita Cable, the release states. In Russia, MGM Networks inked a deal with Metromedia International, which introduced the MGM Movie Channel into the market of the former U.S.S.R. on 1 March, initially launching on the Kosmos MMDS system in Moscow. In Portugal the MGM Movie Channel will commence on cable systems owned by Cabovisao, S.A.

    The MGM Movie Channels in Russia and Malta are owned 100 per cent by MGM Networks. The Portuguese service will be provided by MGM Networks Latin America LLC, which operates the MGM Networks Latin America business. In South Korea, MGM has announced an alliance with the country‘s leading DVD distributor, Spectrum DVD, to launch a customised Korean language service later this month. The MGM Movie Channel - Korea will be carried on the new Skylife DBS platform. MGM Networks will own 33 per cent of this channel, the maximum permitted under Korean law.

    All the channels offer round-the-clock offerings from MGM‘s celebrated 4,000-title library, the largest modern film library in the world, claims the company. Films include the pyschological thriller Hannibal, the Reese Witherspoon comedy Legally Blonde, and Heartbreakers which is about a pair of mother-daughter con artists.

    The library also includes 19 Woody Allen films, and the popular James Bond, Rocky and Pink Panther franchises.

  • MGM

    MGM Networks to launch channels in Portugal, Korea

    Mar 30, 2002

    MGM Networks, a unit of Metro-Goldwyn-Mayer Inc.

  • AXN

    AXN wages war in western territory next month

    Mar 30, 2002

    AXN has announced a slew of films catering to viewers nostalgic for the wild west and good old fashioned war films.

  • Government okays 100 per cent FDI in advertisig

    Mar 30, 2002

    Except in print, other media seem to getting it easy from the government.

  • Egmont ties up with producers for 'Badhaai Ho Badhaai' merchandise

    Mar 30, 2002

    Egmont Imagination India, that claims to be one of the largest children’s entertainment company in the world has join

  • Media firm UTV issues clarification on 15.8 per cent, Rs 460 million private placement

    Submitted by ITV Production on Mar 29, 2002
    News Headline

    Media firm UTV has clarified reports about a foreign investor picking up a stake in it

    These reports appeared in some dailies on 29 March 2002 and were in respect of a fresh round of equity that UTV is receiving from Mauritius-based CDP Capital. These stated that the latter‘s application to invest 15 per cent at a cost of Rs 585 million in UTV Software Communications was given government clearance.

    In a press release issued today UTV says the facts are as follows:

    a) UTV, one of India‘s largest media and content companies, is involved in TV production, Animation, Motion Picture production and distribution and Allied content activities like corporate ad film production and post-production studios. UTV has agreed to a private placement of fresh shares to CDPQ of Canada.

    b) CDPQ headquartered in Montreal Canada, is one of the largest equity investors in the world, and the largest in Canada, where it controls the pension funds of all citizens of Quebec. CDPQ has holdings in media all over the world, and owns close to 12% of MGM Hollywood.

    c) CDPQ has made a fresh equity investment in UTV of Rs 46 crore (Rs 460 million) and picked up a 15.8 per cent stake. It has also bought shares from other investors including Warburg Pincus, thereby having an equity holding of approx 30 per cent in UTV

    d) Post this transaction, the promoter group lead by Ronnie Screwvala will continue to hold 40 per cent, CDPQ will hold 30 per cent , News Corp/Star will hold 15 per cent and the balance 15% is held by various Financial investors including Mitsui of Japan and IL&FS.

    e) At a time when the overall equity market is sluggish, this is the one of the few placements, especially in the media industry.

    f) For UTV this placement comes as a precursor to the possibility of an IPO next year.

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