TV18 Broadcast Limited
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BSE Code:
532800
NSE Code:
TV18BRDCST
Business Profile
Business Profile
Global Broadcast News (GBN), a TV-18 group company, is broadcaster of the 24-hour news channels CNN IBN and IBN 7. The company was incorporated on Jun. 6, 2005 as a private limited company. The company was converted into a public limited company with effect from Dec.12, 2005 and got its current name.
CNN IBN, launched in December 2005, is an English news and current affairs channel. The company has a news-gathering network comprising of 20 news
bureaus. It has an agreement with CNN for exclusive, limited, non-transferable right to use and reproduce the CNN name and principal logo. It also has a news service agreement with Zee Turner for production and broadcasting services. The channel for the five weeks ended Dec. 2, 2006 had an average weekly market share of 37.55%.
GBN owns 49% stake in BK Fincap, which is the holding company of Jagran TV, which in turn owns IBN 7, a 24-hour Hindi language news channel. GBN also holds a 15% stake in Web 18 Holding, whose subsidiary, Web 18 Software, operates portals such as ibnlive.com, moneycontrol.com, poweryourtrade.com, commoditiescontrol.com, indiaearnings.com, easymf.com, cricketnext.com, yatra.com, jobstreet.com, compareindia.com and tech2.com. GBN and Lokmat group formed a 50:50 joint venture to launch a 24-hour Marathi language news and current affairs channel. CNN-IBN has been awarded the Best English News Channel at the Hero Honda Indian Television Academy Awards 2006.
The registered office of the company is at 601, 6th Floor, Commercial Tower, Hotel Le-Meridien, Raisina Road, New Delhi-110001 and corporate office at Express Trade Towers, Plot No. 15 & 16, Sector 16A, Noida, Uttar Pradesh 201301.
Financials
The company registered a loss of Rs 35.05 million for the quarter ended June 2007.
It recorded a net sales of Rs 220.04 million for the quarter.
Total income was Rs 243.5 million for the quarter ended June 2007.
The loss per share of the company stood at Rs 1.31 for the quarter ended June 2007.
Recent Developments
09-AUG-07
On Aug. 9, 2007, the board of directors considered and approved the allotment of 3,000,000 convertible warrants (convertible within 18 months) at a price of Rs 815 per convertible warrant to Network18 India Holdings, a 100% subsidiary of Network 18 Fincap, on preferential allotment basis, subject to necessary provisions and approvals.
14-JUN-07
Global Broadcast News, a part of the TV 18 group, and Lokmat group formed a 50:50 joint venture to launch a 24-hour Marathi language news and current affairs channel.
08-FEB-07
The company`s shares got listed on the national stock exchange (NSE) and the Bombay stock exchange. The shares of the company opened at a premium at Rs 437.50, up by Rs 187.50, or 75% above the issue price of Rs 250.
15-JAN-07
The company had come out with an initial public offering of Rs 1,050 million which was oversubscribed 48.74 times on both the exchanges. The price band for the issue was Rs 230 to Rs 250.
Future Plans
The company plans investment for expansion into Hindi news genre by investment in BK Fincap. It intends to further increase its viewership and be the preferred choice of various viewer categories by providing more live news based on on-site coverage through its extensive news gathering infrastructure that comprises of 20 news bureaus, outdoor broadcasting vans, flyaway units, and state-of-the-art news gathering and production technology.
The company wants to create an appropriate programming mix comprising elements such as news bulletins, talk shows and general interest programming in order to enhance viewer loyalty and attract new viewers. It plans to deliver news through multiple avenues and launch new channels to expand and strengthen its network.