Zee Telefilms Ltd today issued a notice to the Bombay Stock Exchange that it has scheduled a meeting of its board of directors for 1 February, 2002, to consider and review the corporate structure of the company.

It was in September that Zee Telefilms president (corporate finance and strategy) Rajesh Jain had said the company would be reducing the number of its subsidiaries from 22 to between 10 and 12 in line with its overall corporate restructuring plans.

"Over a period of time, we will rationalise the number of our subsidiary companies for maximising synergies," Jain had said then.

The move will align the businesses of the media conglomerate under three broad heads: Content, access and education ? as proposed by management consultants AT Kearney.

Taking up the example of Zee?s access business, Jain said this business comprises Siti cable which is a wholly-owned subsidiary of ZTL. Siti cable, in turn, has a wholly-owned subsidiary called Zee Interactive Multimedia Ltd. Zee plans to merge these two companies to bring the access function under one umbrella.

While the education business is conducted via a single company called Zee Interactive Learning Systems (ZILS) all the remaining subsidiaries perform the crucial content business, both in India and overseas, he said.

The move by Zee Telefilms to further rationalise its large number of subsidiaries follows divestment of its stake last year in three subsidiaries ? Buddha Films LTD, Zee Sports LTD and Zee Publishing Ltd.

In line with this restructuring exercise, e-Connect India LTD, which is at present a wholly-owned subsidiary of ZTL, may be merged with ZILS, for distribution functions, the holding company Patco may be merged with the direct-to-home marketing company EL-Zee.

ZTL has eight wholly-owned subsidiaries in India including Patco, EL-Zee Television LTD, Siti cable, ZIML, e-Connect India, ZILS besides two regional channel companies in Dakshin Media LTD (Tamil) and Kaveri Entertainment LTD (Kannada).

Its overseas subsidiaries include Zee Multimedia Worldwide LTD British Virgin Islands (ZMWLBVI) which is the holding company of ZMWL Mauritius and others. ZTL holds 50 per cent stake each in Winterhealth Company LTD which is the holding company for Asia Today Ltd.

Other ZTL subsidiaries functioning abroad include Expand Fast Holding BVI (which is the broadcasting company for Zee Music, Alpha and English channels) and Zee Multimedia Worldwide, Mauritius.

Zee Telefilms had last year appointed Kearney which suggested many changes in the then organisational structure including downsizing the media giant?s manpower, realigning businesses under the three distinct business heads with their respective CEO?s and sprucing up programming on the flagship channel Zee TV.

Yes, Balaji Telefilms has done it again: turned out enviable financial results at a time when other media firms are struggling to match last year‘s performances. The Ekta Kapoor promoted Balaji has reported a net profit of Rs 85.1 million in the third quarter ended 31 December 2001, which is up 28.5 per cent over the Rs 66.2 million it notched in the second quarter ended on 30 September 2001. Its net margin is a chirpy 28 per cent for the just concluded quarter.

Net sales are up by a healthy 27.8 per cent from Rs 236.2 million in Q2 to Rs 301.9 million in this quarter. Some 75 per cent (Rs 230.82 million) of total sales has come from commissioned programs and the remaining 25 per cent is from sponsored programs in the Q3.

The company has managed to keep a tight rein on costs with production and telecast fees staying put at the same level as the earlier two quarters which was Rs 137.42 million.

The spurt in revenues has come at a time when its other income in the quarter has gone down by 60 per cent from Rs 5.2 million to Rs 2.11 million.

The market has been expecting good results from India‘s leading production house as it has driven up the Balaji share from Rs 185 hardly two months ago to Rs 400 plus in the past fortnight. And it responded similarly today with the Balaji share opening at Rs 414.65. It then oscillated in the Rs 412 - 444.85 band closing at a new high of Rs 426. The BSE index was steady at 3384.38, with a marginal positive change of 0.22 per cent.

Crown Media International, which operates the Hallmark Channel outside America, has announced the signing of a three-year regional contract with ACNielsen Media International.

AC Nielsen claims to be the world‘s leading provider of people meter-based TV ratings. The agreement, effective 17 January 2002, will cover television ratings in India, Australia, Singapore and Taiwan.

This is the first regional TV ratings contract that Hallmark Channel has signed with ACNielsen Media International in Asia. Previously, Hallmark had purchased TV ratings information from the company on a limited basis in Taiwan, Australia and Singapore.

Hallmark programming consists of movies, mini-series, series and children‘s programming. The channel claims that its audience numbers have grown in the Asia Pacific region by more than 50 per cent over the past year to 18 million homes. The channel also claims in an official release that in the region viewers are able to watch the service on seven different feeds and branded blocks.

Managing director, advertising sales of Crown Media International Barry Frey said: "Our strong distribution and enhanced programme schedules in Asia Pacific, coupled with our significant viewership and ad sales growth over the last two years, have led us to make this decision. It is important that we have accurate and timely data about ratings for the benefit of our advertisers."

V-P ad sales Asia, Gregory Ang, said: "This agreement with ACNielsen provides the insight and information needed by clients who would like to target their products at the market segments that Hallmark Channel caters to."

Forrest Didier, MD, ACNielsen Media International, Asia Pacific said: "We are very pleased to welcome Hallmark Channel as our newest regional client for TV ratings in Asia Pacific. Hallmark Channel is recognized as one of the most popular entertainment channels in the region and is fast expanding into many markets. We are confident our service will provide Hallmark Channel with the in-depth analysis and insights they need to further increase their presence in Asia Pacific."

ACNielsen Media International‘s television audience measurement service claims to have over 18,000 people meter homes in 12 Asia Pacific markets: Australia, China, Hong Kong, India, Indonesia, Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan and Thailand.