Feb 5, 2000|
Sri Adhikari places shares to FIIs
Sri Adhikari Brothers (SAB) has made a private placement of 0.91 million shares to FIIs at Rs.1,250 per share.
The company has so far been a software provider to TV channels notably the state broadcaster Doordarshan (DD). In terms of the agreement with DD, it was SAB which owned the copyright to the telecasted programmes.
SAB now has plans to become a broadcaster itself by setting up a Hindi channel. The $ 25 m it has raised would help it buy out content as well as technology for its new channel.
However, with Star Plus too focussing on Hindi programming post its break up with Zee (which restricted its Hindi programming content to 50%) and Sony and Zee too becoming increasingly aggressive, the channel that SAB is planning to set up won’t have an easy time.
The tough environment is not only in terms of getting advertisement revenue but also in terms being accepted by the cable operators in terms of being put within the first twelve channels. This is because the majority of TVs in the country are B & W TVs, which offer only ten to twelve channels. Hence it is important for a broadcaster to be among the top channels to be acceptable to the cable operators.
Besides, one does not know as to how much of the content that SAB created for DD could be used again since the fact remains that repeat content does not carry as much value as original programming. It is here that a partnership with a media content provider rather than an FII could help the company more.
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