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India Media Monitor (Issue 4)

India Media Monitor (Issue 4)

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A fortnightly newsletter covering developments in the Indian media industry. The newsletter is free and is also available for download at G2Mi.com. G2Mi.com is a leading website providing information and analysis on the global media industry.
A fortnightly newsletter covering developments in the Indian media industry. The newsletter is free and is also available for download at G2Mi.com. G2Mi.com is a leading website providing information and analysis on the global media industry.

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Published by: Global Media Market Intelligence (G2Mi.com) on Jun 27, 2009
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India Media Monitor

India Media Monitor
| Fortnightly newsletter on the Indian media industry | Issue No. 4, Published 1ST June 2009 | Published by Heernet Ventures Limited (heernet.com) |

News
Bharti Airtel restarts merger talks with MTN Big Cinemas enters Netherlands Mint launches new edition in Kolkata NDTV MetroNational launches NDTV Hindi channel Pyramid Saimira appoints N Narayanan as Chairman Indyarocks launches online video offering Tata Communications announces 2008-09 financial results Mint launches new edition in Kolkata Airtel in partnership with AeroMobile IDG launches ad network in India Entertainment Network (India) Ltd announces 2008-09 financial results Cinepolis enters India HT Media announces restructuring plans and full year results

Data
Share price data Deal sheet Radio audience analysis

Advisory services Heernet Ventures publishes this newsletter as part of its research coverage of the Indian media industry. You can access more research on the Indian media industry from our research website at G2Mi.com. If you are a media company or financial investor seeking growth opportunities in the Indian media industry, we can assist you to ensure that you are successful in identifying and executing the best opportunities. With dedicated teams in both London and India, we are well placed to provide ‘on the ground’ assistance and support. We can help you understand the structure of the Indian media industry and the key challenges that exist for foreign investors. We can also assist with deep analysis of key industry segments and assist you in both identifying and negotiating with suitable, local companies. Over the last five years, we have worked on assignments across the publishing, Internet and broadcasting sectors. For an initial discussion, contact Harjinder Singh-Heer on +44 (0) 208 180 7223 or by email on harjinder@heernet.com.

© Heernet Ventures Limited. All Rights Reserved

India Media Monitor

News

Pyramid Saimira Chairman
Date 27 May, 2009
th

appoints

N

Narayanan

as

Tata Indicom in partnership with Yahoo! India
Date 26th May, 2009

Pyramid Saimira has appointed N Narayanan as Chairman following the resignation of P S Saminathan, who will remain with the company as Managing Director.

Indyarocks channels

launches

online access to video

Tata Indicom has entered into a partnership with Yahoo! India to offer a unique user interface to Tata Indicom subscribers. Yahoo! India will be the default homepage on all Tata Indicom Internet access devices and Tata Indicom subscribers will have access to all Yahoo services including Yahoo mail, Yahoo search and Yahoo News.

Date 27th May, 2009

Rediff launches its international website
Date 26th May, 2009

Indyarocks.com has begun to offer online access to video channels through an agreement with nautanki.tv. The channels on offer include MTV, Channel (V) and Zee News. Nautanki.tv is an online distribution platform.

Rediff.com India Ltd has launched its international website, designed for clear resolution on mobile phone screens (and also compatible with PC screens). Rediff.com India is an online portal in India.

Bharti Airtel plans share swap deal with MTN
Date 26th May, 2009

Chairman of Prasar Bharti resigns
Date 26th May 2009

Bharti Airtel has restarted merger talks with MTN, the South African telecoms company. The deal is expected to be valued at approximately US$20-23 billion and is likely to be based on a share swap. Following the merger the company would have a combined customer base of more than 200 million subscribers and would generate annual revenues of US$20 billion.

Arun Bhatnagar has resigned as Chairman of Prasar Bharti; he replaces MV Kamath. Arun Bhatnagar was previously Secretary General of National Advisory Council. The Chairman’s term is now limited to three years.

Big Cinemas enters Netherlands Tata Communications announces 2008-09 financial results
Date 26 May, 2009
th

Date 26th May, 2009

Tata Communications Ltd, a telecom company, has declared its annual results for the year ended March 2009. The company’s revenue increased 20.1% to INR99.6 billion.

Big Cinemas has entered into a partnership with Pathe Theatres, a Dutch company, to set up 3 cinema screens in the Netherlands. These screens will be built in Pathe’s existing megaplexes in Amsterdam, Rotterdam and the Hague. Big Cinemas already owns 230 cinema screens outside India.

Y/E March 2009 (INR Billion) Revenue EDITDA Net Profit
Source: Company data

2008

2009

% change

Mint launches new edition in Kolkata
Date 25th May, 2009

82.9 8.8 0.1

99.6 13.5 3.2

20.1% 53.4% N/M

Mint, a daily business newspaper, has launched a new edition in Kolkata. It will be retailed for INR3 and is targeted at business people in cities. Mint, a joint venture between HT Media and The Wall Street Journal, currently has a readership of 200,000 daily readers.

© Heernet Ventures Limited. All Rights Reserved

India Media Monitor

IDG launches ad network in India
Date 21st May, 2009

Images Group launches Shoes and Accessories magazine
Date 20th May, 2009

International Data Group (IDG) has launched IDG TechNetwork, an online ad network in India. The network allows publishers to advertise on various websites. IDG operates in media, events, technology and research.

Images Group has launched a new monthly magazine, Shoes and Accessories. The magazine is a trade periodical covering developments in the footwear and accessories industry; it is targeting a circulation of 25,000 and has a cover price of INR100.

Entertainment Network (India) announces 2008-09 financial results
Date 21
st

May, 2009

Entertainment Network (India) Ltd, operator of Radio Mirchi, has declared its annual results for the year ended March 2009. The company’s revenue increased 3% to INR42.7 billion.

NDTV MetroNational launches NDTV Hindi channel
Date 20th May, 2009

Y/E March 2009 (INR Billion) Revenue EDIT Net Profit
Source: National Stock Exchange

2008 4.1 -0.4 -0.2

2009 4.3 -0.7 -0.7

% change 4.9 N/M N/M

NDTV MetroNation and The Hindu have formed a joint venture to launch NDTV Hindu an English news channel focused on Chennai. The Hindu is a newspaper publishing company and NDTV MetroNation is an English news channel operated by NDTV.

BSNL launches mobile value-added services
Date 19th May, 2009

Cinepolis enters India
Date 21st May, 2009

Cinepolis, a Mexican multiplex chain, has entered India and plans to build 110 movie screens in India in the next 2-3 years, with 10 or more screens per multiplex. It is the first international multiplex operator to enter India.

Bharat Sanchar Nigam Limited (BSNL) has launched three value-added services: video telephony, video surveillance and mobile advertising. Video telephony services were launched in 12 states in association with Sai InfoSysems Ltd. Video surveillance and mobile advertising services were launched in association with Rivacom Pvt Ltd.

HT Media results and restructuring plans
Date 19th May, 2009

Forbes launches in India
Date 21st May, 2009

Forbes and Network 18 have entered into a partnership to launch Forbes India, an Indian edition of Forbes magazine. The magazine will be published bi-weekly. A 30 minute Forbes India show will also be broadcast on CNBC-TV18 every week as one of the services offered by Forbes India.

HT Media Ltd plans to separate its English and Hindi language newspapers. It also plans to publish more regional newspapers as the sale of Hindi language newspapers is higher than those in English. HT Media has also declared its annual results for the year ended March 2009. The company’s revenue increased 12% to INR13.4 billion.
Y/E March 2009 (INR Billion) Revenue EBDIT Net Profit
Source: company data

2008 11.9 2.6 1.4

2009 13.4 2.2 0.9

% change 12.6% -15.4% -35.7%

© Heernet Ventures Limited. All Rights Reserved

India Media Monitor

Time Square Media launches Network2media.com
Date 18th May, 2009

Geodesic acquires Interactive Network
Date 18th May, 2009

Times Square Media has launched Network2media.com, a B2B website on the out-of-home industry. The website will offer news, technological developments and interviews relating to the out-of-home industry.

Geodesic Limited, an India-based mobile and desktop communications company has acquired 100% of Interactive Networks Inc, a provider of advanced instant messaging software and value-added services based in South America. Geodesic’s services include instant messaging, SMS over IP and Internet radio.

The Wall Street Journal Asia commences printing operations in India
Date 18 May, 2009
th

Bharti Airtel reaches 100 million subscribers
Date 16th May, 2009

The Wall Street Journal Asia has commenced printing operations in India. It will publish the Wall Street Journal Asia, a global business title, through The Express Group in New Delhi and Mumbai. The paper will be available in major cities across India.

Bharti Airtel’s subscriber base has crossed the 100 million mark, making it is the first operator in India to reach this threshold. Airtel has now become the third largest single operator of mobile services in the world.

© Heernet Ventures Limited. All Rights Reserved

India Media Monitor

Share Price Data
Company name Reuters Code Bloomberg Code Currency Current price 1 mth % Change 6 mth 12 mth

Diversified Media
Adlabs Films UTV Software Communications ADLF.BO UTVS.BO ADLF:IN UTV:IN INR INR 351.05 390.55 71.24% 29.54% 124.67% 60.39% -45.15% -50.56%

Broadcasting
Balaji Telefilms Entertainment Network India ETC Network IBN Broadcast NDTV Sun TV TV Today Network Zee Entertainment Zee News BLTE.BO ENIL.BO ETNT.NS IBN.NS NDTV.BO SUTV.BO TVTO.NS ZEE.NS ZEEN.NS BLJT:IN ENIL:IN ETCN:IN IBN18:IN NDTV:IN SUNTV:IN TVTN:IN Z:IN ZEE:IN INR INR INR INR INR INR INR INR INR 56.90 202.95 124.60 122.40 169.15 252.25 107.40 168.30 45.00 40.67% 39.87% 83.10% 40.85% 64.22% 37.09% 37.87% 54.40% 36.78% -6.87% 91.46% 97.78% 17.69% 125.23% 99.41% 95.10% 47.89% 63.34% -69.30% -50.89% -48.08% 0.37% -60.01% -18.64% 4.83% -28.73% -16.04%

Publishing
Deccan Chronicle Mid day multimedia Navneet Publication HT Media Jagran Prakashan DCHL.BO MIDD.BO NAVN.BO HTML.BO JAGP.BO DECH:IN MIDM:IN NPI:IN HTML:IN JAGP:IN INR INR INR INR INR 76.00 20.65 7.00 124.05 71.85 32.17% 58.85% 42.17% 84.05% 27.17% 69.60% 89.45% 83.17% 83.78% 46.33% -44.53% -31.05% -19.87% -8.59% -12.75%

Entertainment
K Sera Sera Productions Mukta arts Prime Focus Pritish Nandy Communications Pyramid Saimira Theatre limited Crest Animation PVR limited KSER.BO MUKR.BO PRFO.BO PNCL.BO PYSA.BO CRCO.BO PVRL.BO GPM:IN MUKR:IN PRIF:IN PRTN:IN PSTL.IN CRSA:IN PVRL:IN INR INR INR INR INR INR INR 14.50 50.30 190.04 29.00 27.30 21.65 118.40 38.76% 25.75% 79.62% 70.26% 73.33% -7.08% 47.08% 3.57% 16.17% 4.21% 72.78% -29.91% 3.59% 60.65% -50.00% -47.19% -64.68% -46.81% -91.97% -66.01% -36.51%

Internet
Info Edge Northgate Technologies INED.BO NOTC.BO INED:IN NORT:IN INR INR 677.55 44.70 29.06% 1.43% 67.01% -24.09% -31.90% -88.80%

© Heernet Ventures Limited. All Rights Reserved

India Media Monitor

Deal Sheet

A summary of key deals and joint ventures over the last 3 months.

Date
May-09

Sub Sector
Value-added services

Investor
Geodesic Ltd

Investee
Interactive Networks Inc

Terms
100% stake

Details
Geodesic Ltd is a communications and entertainment solutions provider. Interactive Networks Inc is a valueadded services provider in South America. Ybrant digital is an e-marketing company. Dream Ad is an ad network based in Argentina. Zee Entertainment Enterprise Ltd is an entertainment company.

May-09

Advertising

Ybrant Digital

Dream Ad

n.a.

May-09

Television

Zee Entertainment Enterprise Ltd

Resource Software Limited S Tel

40% stake for US$56 million

May-09

Telecommuni cations Advertising

Sahara Group

11.7% stake

S Tel is a Chennai-based telecom company. Sahara Group is an entertainment conglomerate. Future Group is a major retail company in India. Dhar & Hoon is a mid-sized advertising company. Oman Investment is an Oman-based venture capital company and 3i is a Mauritius-based investment company. Neo Sports is owned by Zenith Sport, a subsidiary of Nimbus Communication Ltd. Hype Integracomm Ltd is a Mumbai-based advertising company. Asawari Publicity is a Pune-based outdoor advertising company.

Apr-09

Future Group

Dhar & Hoon

60% stake

Apr-09

Television

Oman Investment Fund (Oman) and 3i (Mauritius)

Neo Sports Broadcasting

INR2.58 billion

Apr-09

Outdoor advertising

Hype Integracomm Pvt Ltd (India)

Asawari Publicity

n.a

© Heernet Ventures Limited. All Rights Reserved

India Media Monitor

Data

Radio Audience data
Week: 19, 2008

Mumbai
Channel Fever Fm Red FM Radio Mirchi Big FM Air Gold Radio City Radio One AIR FM Rainbow Akashwani Meow FM Vividh Bharti Broadcaster HT Music Sun TV, NDTV, Value Labs ENIL Adlabs Radio All India Radio Music Broadcast Private Ltd Mid-Day Multimedia All India Radio All India Radio Radio Today Broadcasting Ltd All India Radio % Share 16.5% 15.0% 15.0% 14.4% 12.1% 11.3% 5.3% 4.2% 2.2% 2.2% 1.8%

Delhi
Channel Radio Mirchi AIR Fm Fever FM Radio City Red Fm Radio One Big Fm Meow Fm AIR FM Rainbow Hit FM Vividh Bharti Akashwani Broadcaster ENIL All India Radio HT Music Music Broadcast Private Ltd Sun TV, NDTV, Value Labs Mid-Day Multimedia Adlabs Radio Radio Today Broadcasting Ltd All India Radio Clear Media All India Radio All India Radio % Share 25.8% 15.4% 14.4% 10.7% 8.7% 6.4% 6.2% 4.1% 3.1% 2.9% 2.0% 0.2%

Bengaluru
Channel Big FM Fever Fm Radio Mirchi AIR Fm Radio City Radio One S FM Vividh Bharti Radio Indigo Gyan Vani Akashwani Broadcaster Adlabs Radio HT Music ENIL All India Radio Music Broadcast Private Ltd Mid-Day Multimedia Udaya TV All India Radio India Radio Ventures All India Radio All India Radio % Share 19.9% 16.3% 14.3% 12.5% 10.9% 10.2% 8.0% 3.5% 3.1% 0.8% 0.5%

Kolkata
Channel Radio Mirchi Big Fm Friends FM Amaar Fm Red Fm Fever Fm Radio One Meow Fm Air FM Rainbow AIR FM Gold Akashvani Power Fm Vividh Bharati Broadcaster ENIL Adlabs Radio Ananda offset Hitz fm Sun TV, NDTV, Value Labs HT Music Mid-Day Multimedia Radio Today Broadcasting Ltd All India Radio All India Radio All India Radio India fm All India Radio % Share 19.6% 15.7% 12.2% 10.1% 9.8% 7.2% 6.6% 5.9% 4.2% 3.5% 2.5% 1.3% 1.2%

© Heernet Ventures Limited. All Rights Reserved

India Media Monitor

Published by: Heernet ventures limited London UK, Gurgaon India Tel: +44 (0) 208 180 7223 Fax: +44 (0) 870 762 3014 Web: heernet.com, G2Mi.com

© Heernet ventures limited 2009. All Rights Reserved. All corporate logos, images and brands are copyright of the respective companies.

TERMS & CONDITIONS OF USE
Every attempt has been made to ensure that the information in this report is correct at the time of publication. Heernet ventures limited and its directors do not accept any liability for any errors or omissions within this report. Unless specified, the views expressed in this report are purely those of the author. The content of this report does not in anyway constitute investment advice or investment recommendations. Heernet ventures limited does not provide investment advice or investment advisory services and is not regulated by the Financial Services Authority (FSA) in the UK or any other financial services regulator in any other country. The content of this report can not be reproduced without the written permission of the author. This copy must not be circulated in either electronic or print format outside of the purchasing organisation.

© Heernet Ventures Limited. All Rights Reserved

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