The government is believed to be pushing the institution to rope in a strategic partner to strengthen its balance sheet. The process is expected to start in the next quarter, starting October.
The Securities and Exchange Board of India has approved The Walt Disney Company's deal to increase stake in Ronnie Screwvala-promoted UTV Software Communications beyond 15 per cent, six months after the deal was initially signed. Sebi, the market regulator, has also okayed the US-based company to launch an open offer.
ONGC Videsh Ltd, a wholly-owned subsidiary of Oil and Natural Gas Corporation, has put in a bid to buy stake in a discovered oil block in Angola, after a consortium of two Chinese companies has already reported to have bid $1.5 billion last month, confirmed a top official of OVL on condition of anonymity.
Also plan to charge a premium on advertising.
To raise funds for Imperial buy, create 'acquisition currency'.
The government's showcase Indian Infrastructure Finance Company Ltd has run into trouble with two leading global banks - Standard Chartered Bank and Calyon Credit Agricole - suggesting that they may not fulfil collective contractual funding commitments of $250 million
Delhi-based Great Eastern Energy Corporation is planning a public issue, part of which will be "sponsored", meaning foreign shareholders will also tender their shares for sale, a first for the Indian markets.
In what would be a significant boost to the domestic entertainment industry, the United States has been roped in as the partner country for the 2009 Ficci Frames - the annual global convention on the entertainment and media industry that is partly sponsored by the Ministry of Information and Broadcasting. It will be the tenth year of Ficci Frames next year.
ONGC Videsh Ltd, the wholly-owned subsidiary of Oil and Natural Gas Corporation, announced that it has acquired 15 per cent in UK-listed Imperial Energy and formally launched a negotiated takeover bid for the company at $2.6 billion (equivalent to around Rs 11,500 crore), which the company's board has approved.
In an effort to stem a possible counter-bid by China's Sinopec and others, ONGC Videsh Ltd, the overseas exploration subsidiary of state-owned Oil and Natural Gas Corporation, has through its advisor Deutsche Bank approached the large institutional investors of Imperial Energy to acquire their holdings.
These numbers have been submitted to the regulator, the Telecom Regulatory Authority of India, by various stakeholders in the cable industry, including broadcasters and multi-system operators. These are based on the information collected from the tax departments of various state governments.
The promoters of East India Hotels Ltd, owners of the Oberoi brand and the largest hotel chain after the Tata-owned Indian Hotels and ITC Welcome Group, are in advanced discussions with leading corporate houses and private equity firms to divest a strategic stake, possibly 26 per cent.
Big TV will be the fourth entrant in the 7-million private DTH subscribers market following Dish TV's launch in 2003, Tata Sky (2006) and Sun Direct (2007). Doordarshan's DD Direct Plus is the fifth player (also launched in 2003) but is a free-to-air service.
Believe it or not, it is viewers like you who influence these snap decisions taken by broadcasters and programme developers. This has been made possible by new software introduced by Mumbai-based overnight ratings agency Audience Measurement and Analytics (aMap) called Dashboard.
The Telecom Regulatory Authority of India is recommending the cancellation of sports broadcaster ESPN STAR Sports' downlinking licence for non-compliance with the DTH platform's pricing formula.TRAI's proposed action follows its direction and a show cause notice to ESPN Software India in the last two months asking it to fall in line with its DTH pricing formula.
This follows the show-cause notice that was issued to the company last month by the ministry of informaton and broadcasting and the response given by the company. According to highly placed sources, the letter of suspension of Bharti's DTH licence has been moved within the I&B ministry because it is not satisfied with the response sent by Bharti Telemedia.
It's going to be a field day for the 40-odd news channels in the country as they gear up to cover the UPA Government's trust vote on July 22.
The government's 2006 directive making it mandatory for private broadcasters to share the feed of sports events of "national importance" with state-owned Doordarshan seems to have backfired.
IPTV and Mobile TV, the new cable distribution platforms that have emerged recently. A clarification issued by the ministry of information and broadcasting recently makes it compulsory for all broadcasters to immediately share their channels with Wire & Wireless India Ltd, the HITS licence holding company of Essel Group.
The health ministry plans to oppose the application from Japan Tobacco International Ltd, the world's third largest tobacco company, to the Foreign Investment Promotion Board to raise its stake in its Indian venture from 50 to 74 per cent. The application is slated for consideration in the FIPB meeting on Tuesday.
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