Top Story

e4m_logo.png

Home >> Media - TV >> Article

BAG Films raises $35 million through FCCB; to invest in its 4 forthcoming channels

08-August-2007
Font Size   16
Share
BAG Films raises $35 million through FCCB; to invest in its 4 forthcoming channels

BAG Films & Media Ltd has raised $35 million through a foreign currency convertible bond (FCCB) issue. The amount raised will be towards meeting capex requirement for its proposed four TV channels.

Anurradha Prasad, Managing Director, BAG Films & Media Ltd, said, “We will be investing this money for the forthcoming TV channels. With this, we would complete our fund requirement.”

BAG Films is making a combined investment of Rs 4 billion in its broadcasting business. This includes two channels in the news space, one on lifestyle, and the fourth channel will be all about mind, body and soul and will be called ‘Bliss’. The news venture alone will consume Rs 2.5 billion.

BAG Films has already lined up Rs 2 billion and will be diluting 25 per cent stake in each of its two broadcast companies -- BAG Newsline Network and BAG Glamour. While the forthcoming news channels are being housed under BAG Newsline Network, the non-news ventures will fall under the gamut of BAG Glamour. The channels are expected to go on air by the first week of November 2007.

Actor Shah Rukh Khan and his wife Gauri will buy a 10 per cent stake in BAG Glamour, which is being promoted by Anurradha Prasad.

Tags

Speaking with exchange4media, Rishi Darda, Joint Managing Director and Editorial, Lokmat Media Group shared his vision for regional publications and the impact of IRS 2017 on the print industry.

Nisha Narayan, COO & Director, RED FM & Redtro and CEO, Digital Radio (Mumbai) Broadcasting Ltd, shares her insights on how radio is a powerful medium in terms of advertising and what can be done to take it to the next level

The popular channel from the Viacom18 ‘s umbrella MTV Indies, which aired music by independent artistes, was replaced by MTV Beats, a 24x7 Hindi music channel in 2016

Bhasin on the checks and balances of new IRS, methodology with new companies like Vedsur on board, interpreting the data and why it’s not fair to compare with previous data

The popular channel from the Viacom18 ‘s umbrella MTV Indies, which aired music by independent artistes, was replaced by MTV Beats, a 24x7 Hindi music channel in 2016

Backed by four properties including the first test match between South Africa and India of Freedom Cup, Sony Ten 1 continued to lead Top 5 channels in 2018’s second week (January 6-12)

Vijay Shekhar Sharma stated that this is the right time to create an Indian model which would be the envy of the world