Financial Daily from THE HINDU group of publications
Thursday, Oct 13, 2005
Financial Daily from THE HINDU group of publications Thursday, Oct 13, 2005 |
|
|
|
|
|
|
|
Corporate
-
Restructuring TV18 consolidates media biz, to create 2 listed entities Our Bureau
Mumbai , Oct 12 TELEVISION Eighteen (TV18) today announced a consolidation of its media business to set up two listed entities within the group. The two listed entities to be created are Television Eighteen India Ltd with both the business news channels, CNBC-TV18 and Awaaz, along with Moneycontrol.com and Commoditiescontrol.com; and a second listed holding company called TV18 Network Ltd, which will hold 51 per cent plus stake in Television Eighteen India Ltd and 51 per cent plus stake in the proposed general news channels. This consolidation is expected to unlock significant shareholder value, the company said in a release. So far, the Hindi consumer channel of the group - CNBC Awaaz - and the proposed general news English channel were held as promoter entities and legally not part of the listed Television Eighteen India Ltd, due to government restrictions. The restructuring will be achieved through a High Court process whereby the TV18 shareholder will automatically be allotted shares proportionately in the two entities and will now have a legal holding in both Awaaz and the proposed general news English channel, apart from the shareholding in the listed TV18. The TV18 board has approved the restructuring plan. BMR & Associates are acting as overall financial and transaction advisors, while KPMG India Private Ltd has provided indicative valuation guidance for the consolidation.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
