These days literally everyone is jumping onto the Internet bandwagon. And the latest to do so are none other than television channels.

Sony Entertainment Television, the Indian unit of Japan‘s Sony Corporation is on the verge of buying two Internet portals. This is all a part of Sony‘s plan to make it big in the Internet business in India.

In an interview to Reuters, Sony CEO Kunal Dasgupta said that the acquisition of the portals would help Sony access dedicated Internet communities such as youth, cricket fans, and a number of users hooked on music and films. The acquisitions which were expected to be announced later this month would help the Sony Group‘s plan to develop a central, or main, portal next year that encompasses all its activities in India and provide other services like e-mail, news updates and e-commerce.

Sony Entertainment Television recently joined Applitech Solution Ltd to start a youth portal called freshlimesoda.com in which Sony would hold 33 per cent in the venture and help in the content provision and marketing.

Also cashing in on the Net boom are none other than Sony‘s competitors like Zee Telefilms and News Television India Ltd. News Television already has a youth oriented web site in the form of www.vindia.com an extension of its Channel [V] brand.

And with zeenext always present......the race is really hotting up.

e-Eighteen Dot Com Private Ltd (E18), a subsidiary of television software maker Television Eighteen (TV18), has acquired a personal finance portal company, Money Control Dot Com India Private Ltd, in a stock and cash deal, the company said in a statement today. The portal is called www.moneycontrol.com.
E18 will pay the shareholders of Money Control Dot Com 7.5 per cent of its equity capital. It will also pay Rs 11.5 million towards the cost of acquisition, the statement said.

There was a reshuffling of top bosses at the Star TV head office in Hong Kong. James Murdoch, youngest son of News Corp chief Rupert Murdoch, took over the reins of Star TV as chairman and CEO. Also Bruce Churchill was promoted as the president and chief operating officer of Star TV.

James Murdoch, who is 27, has been interim Co-Chairman of Star since February. He is also Executive Vice President of News Corporation, responsible for the company?s interests in global Internet and digital media ventures, and is a member of News Corporation?s Executive Committee.

Bruce Churchill was appointed president and chief operating officer of Star TV in May 2000. He had been the deputy chief executive officer of Star since April 1996. Mr Churchill will be responsible for operations across the entire company and will play a key role in determining and implementing Star TV?s development strategy.

Star TV announced the appointment of Mr Lalit Ahuja as CEO of it‘s new convergence and infotech business operations in India. He will report to Mr. Peter Mukerjea, CEO, News Television India.
This move is seen as a major development in Star‘s efforts to enter the convergence and infotech arena. According to James Murdoch, "Lalit‘s appointment underscores the critical importance we attach to the new media world, where talent and expertise will determine market leadership."

Lalit Ahuja was the President and Managing Director of LG Soft India (the global IT arm of LG Group).