Viacom awaits FIPB clearance to pick up 50% stake in 5 ETV regional GECs

[Devesh]

Though TV18 has got a new owner in Mukesh Ambani, there has been no change in the original plan of Viacom Inc: The US media conglomerate is awaiting regulatory clearance to acquire 50 per cent stake in five regional general entertainment channels of ETV from TV18. Once Viacom gets necessary approvals, the five channels—ETV Marathi, ETV Kannada, ETV Bangla, ETV Gujarati and ETV Odia, which are part of Prism TV Pvt Ltd, now a wholly-owned subsidiary of TV18—will be merged with Viacom18 Media, the 50:50 joint venture between TV18 and Viacom Inc. As Viacom is in the process of acquiring the stake, sources close to the development say that the channels may be rebranded with Colors. For the records, Viacom18 houses the entertainment channels of the group, including flagship Hindi GEC Colors, youth channels MTV and Pepsi MTV Indies, English channels Vh1 and Comedy Central, and kids channels Nick, Nick Jr and Sonic. It also runs Viacom18 Motion Pictures, the film production business of the group. On the contrary, the news properties—CNN-IBN, IBN7, CNBC TV18, CNBC Awaaz and CNBC Bazaar—are part of TV8. In 2012 when Network18 and TV18 were under the ownership of Raghav Bahl, TV18 had entered into an agreement to acquire a 50 per cent stake in the regional entertainment channels of ETV. It also had the option of picking up the balance 50 per cent interest. Later in 2013, TV18 had offered Viacom Inc the option to pick up the remaining 50 per cent stake in the regional GECs. This could have allowed the two companies to keep all the entertainment channels under one JV while expanding the partnership. It would be pertinent to note that during his last appearance at the FICCI Frames in 2013, Viacom International Media Network president and CEO Robert (Bob) M Bakish had told journalists that Viacom was doing due diligence to acquire the remaining 50 per cent stake in ETV regional channels. He had mentioned that the addition of regional channels would be a good strategic opportunity for the business as regional markets have strong growth potentia

Read more at: Viacom awaits FIPB clearance to pick up 50% stake in 5 ETV regional GECs | TelevisionPost.com | TelevisionPost.com

 

[DashMajor]

So good days are coming for ETV Regional Entertainment channels.

 

[NinadG]

So Viacom is expanding its mgmt control over ETV now.....
What Mukesh is doing then.....?

 

[DashMajor]

Mukesh already own 50% hence doing nothing also Entertainment Industry is not Ambani's field. We already saw Anil fall short on it.

 

[NinadG]

I mean to say Mukesh pumped money & bailed out......so he should aggressively keep on raising the stake....he can buy anything from money......
Here American company Viacom is spreading the wings & thus propaganda......

 

[DashMajor]

Again its not about money but passion to run something, what if he bought 100 % share and even his family take over the Board but since they're not passionate about something they not able to click the output of the content though channel producer is Jessu George but final verdict is of Board what to run, when to run, where to run, who to sign, when to sign ??

 

[Technoglitch]

agree with Anirudha bro, does mukesh have knowledge about media? i guess he just bought it during election time to run a campaign for BJP in all the news channels.

 

[IndianMascot]

Just like Marans bought spicejet and screwed it.

 

[NinadG]

Again its not about money but passion to run something, what if he bought 100 % share and even his family take over the Board but since they're not passionate about something they not able to click the output of the content though channel producer is Jessu George but final verdict is of Board what to run, when to run, where to run, who to sign, when to sign ??

oh no...that means Viacom is geting free run now.........

 

[DashMajor]

oh no...that means Viacom is geting free run now.........

After departure of Raghav Bhal, I am expecting more power on Viacom to run things and Ambani just caring about his partition and contents which he want for his Jio nothing more then that.