Stock Watch

Reliance Broadcast is reported to have conglomerated with US-based CBS Corp. to undergo an equal joint venture in a bid to launch television channels in India. The preliminary tie-up for the joint venture was signed in June.

"The venture is more about the assets that both companies are bringing to the table", Tarun Katial, CEO, RBNL told reporters when asked about the financial terms.

Hindustan Media Ventures makes a strong debutOn the initial day of trade on Wednesday, shares of Hindustan Media Ventures went up almost 14% in excess the initial issue price of Rs 166. Hindustan Media Ventures (HMVL) which publishes the Hindi daily Hindustan made a debut on a strong note at Rs 170, up 2.40% on its issue price of Rs 166 on the BSE. The scrip shot up 15.60% to lay hands on an intra-day high of Rs 191.90 on the Bombay Stock Exchange. It at long last finished the day at Rs 189.20, up almost 14%.

Production House, Miramax, will be bought by Construction magnate Ron Tutor and investment firm Colony Capital from its parent company, Walt Disney. Ron Tutor And Colony Capital have reached an agreement in principle to make the acquisition. All three parties involved iin the deal have reached an agreement on all points of legal and practical discourse. Lawyers are presently drafting a formal agreement.

To keep its share holding pattern simple, it has been decided by Network18 group to create two new listed entities and run its business under those two entities; one will be focusing on television and the other on websites and publishing operations. The company has planned to transfer its business of broadcasting to IBN18 and the new entity will be called TV18.

Due to high demands compared to others and the company's lower scaled than its listed peers investors can take their time and watch the stock of Hindustan Media Ventures (HMV) before subscribing to the company's initial public offering.

The company is an additional front of HT Media and publisher of the Hindustan newspapers. It also publishes a couple of Hindi magazines which is a very minor business.

Network 18 Media & Investments went up as high as Rs 170.10 and saw an intraday low of Rs 161. At 09:05 hrs the share was quoting at Rs 162.65, up Rs 6.20, or 3.96%.

Viacom 18 Media Pvt Ltd is looking to buyout London’s AIM-listed firm The Indian Film Company (TIFC). Network 18 Media & Investments and its affiliates own over 80% in TIFC and the firm has agreed to sell its stake in the proposed offer by a JV firm co-promoted by its own subsidiary IBN 18. Viacom18 is a 50:50 JV between IBN18 and Viacom.

Blockbuster Inc. is to hire a new chief restructuring officer, in keeping with a stipulation put forth by its creditors. The stipulation also allowed for a six- week extension for the payment of $42million to its debtors. The regulatory filling insisted that the company hire an official to help sort out its financial messes.

Telecom regulatory body, TRAI has advised that the FDI ceiling in FM radio segment should be increased to 26 per cent as against the current 20 per cent.

While some have seen this as the necessary change which is waiting to happen, the others are saying that it would be too early to come up with a raise.

Interestingly, this proposal is different from the stand that it took in 2008 when it had asked the FDI limit in the FM radio channels to be made 49 per cent.

The same level was proposed for the up linking of channels.

A ministers’ group after examining the Prasar Bharti Act have recommended some amendments to be considered by the Information and Broadcasting Ministry. The group headed by P. Chidmabaram, the home minister, after two meetings, has asked the Prasar Bharti board to set up a recruitment board that would formulate the new rules of recruitment by the end of July. Critical posts which have been lying vacant should also be filled as per the recommendations of the group.

The FIFA has been able to strike gold in the Indian market and the viewership has seen a surge in reach over the previous 2006 edition as the players continue to set their goals in South Africa.

However, the data released by the rating agency clearly show the fact that the ratings are dipping as the tournament is progressing.

With a jump of over 50% in viewership as compared to the 2006 championship, the FIFA World Cup 2010 is only 26-match old and has already reached out to 42.1 million viewers in the country.