Apr 25, 2000|
Sony takes on Zee, Star with stake in CNBC
TV 18 has announced the disinvestment of 20% of its 49% stake in CNBC India, the channel that hosts its programmes, in favour of Sony Entertainment Television (SET). The price at which the stake will be sold will be determined at the time of the transfer of the stake.
The move has two implications. As far as Sony is concerned it indicates a step forward towards setting up its own distribution trolley on the lines of Star TV and Zee.
Click An overdose of entertainment
SET has three channels in place in India, the Hindi entertainment channel Sony TV, the English movie channel AXN and the sports cum events channel called SET Max. It does not have a presence in a news/current affairs channel unlike both Zee and Star and neither does it plan to have one. This arrangement would give it a stake in a business news channel.
SET has so far been the agent for CNBC India collecting subscription money from cable operators as well as selling free commercial time on the channel. The present decision gives it a stake in the revenues of the channel itself.
As far as TV 18 is concerned it indicates an emphasis on its core competency viz. content. So far the company has produced entertainment programmes for all the three platform owners viz. Star (Amul India Show, Kinetic Mega Show) and Zee (Public Demand) and Sony (Bhanwar) apart from business programmes for CNBC India. Whether the present agreement would drift the company closer to Sony (in terms of say producing programmes exclusively for Sony) remains to be seen.
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