TV Today Network Ltd
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BSE Code:
532515
NSE Code:
TVTODAY
Business Profile
Business Profile
TV Today Network (TVTN), part of the India Today group, operates a network of TV news channels. It was incorporated on Dec. 28, 1999.
The company has four news channels, namely Aaj Tak, Headlines Today, Dilli Aaj Tak and Tej. Aaj Tak was launched by TV Today Network as a 24-hour Hindi news channel on Dec. 31, 2000. It has been awarded the Best News Channel by the Indian Television Academy for six successive years and has been declared Consumer Superbrand for the year for 2007. The viewership of Aaj Tak news channel was 33.44 million for 2006-2007, registering a growth of approximately 20%.
Headlines Today, India`s first exclusive 24-hr English news channel has a programming and special feature based format along with news. It had a viewership of 8.4 million in 2006-2007, a growth of 20%. Tez, a 24-hour Hindi news channel, was launched in August 2005. The channel has achieved 10 million viewers in its first full year of operation ended March 2007. Dilli Aaj Tak is a Delhi/NCR specific 24-hr Hindi news channel. Launched on May 29, 2006, the channel gained a viewership of 2.24 million in 2006-2007 with its popular news-you-can-use format, which provides information on absolutely anything happening in the capital.
Aaj Tak and Headlines Today are available in the US on the Echostar platform, via the Dish Network. The company has got regulatory clearances for distribution of Aaj Tak in Europe and Canada. It has TV Today Network (Business) as its subsidiary. The registered office of the company is located at Videocon Tower, E-1, Jhandewalan Extension, New Delhi-110055.
Financials
TV Today Network registered a profit of Rs 53.5 million for the quarter ended September 2007.
It recorded a net sales of Rs 464.2 million for the quarter.
Total income was Rs 507.9 million for the quarter ended September 2007.
The diluted earnings per share (EPS) of the company stood at Rs 0.92 for the quarter ended September 2007.
Recent Developments
02-MAR-07
Reliance Capital purchased 6.9 million shares or 11.93% in the company.
21-FEB-07
Sonata Investments, a subsidiary of Reliance Capital purchased 583,000 shares in an open market transaction. After this acquisition, the Anil Ambani Group has increased its holding in the media house, TV Today Network to nearly 12% by acquiring an additional 1% stake.
16-FEB-07
Anil Ambani Group hiked its stake in TV Today Network to over 10% by acquiring an additional 0.96% stake for an estimated Rs 65 million.