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MIB signals end of Epic wait

MIB signals end of Epic wait

Author | Collin Furtado | Wednesday, Sep 17,2014 8:09 AM

MIB signals end of Epic wait

Epic Television Network (Epic TV) has received its license from the Ministry of Information and Broadcast (MIB) according to a highly placed source. The channel however is yet to receive approvals from the Telecom Ministry. This comes as good news for the channel, which has had to suffer a delay of more than a year.

“We have got the approval from I&B Ministry but are still waiting for the telecom nod. So it will be a month more before we announce (the on air launch). This comes as excellent news for us. We have been waiting for a long time. This government has done a much better job of clearing projects,” said the source. When contacted, the channel did not wish to make any official comment.

The channel, which is led by Managing Director, Mahesh Samat and in which industrialists Mukesh Ambani and Anand Mahindra own stakes of around 25 per cent each (the remaining investment coming in from Samat and Associates), was expected to go on air in August 2013. However, the pending approvals from the MIB had resulted in a delay of over a year. The source claimed, the channel could go on air by the end of this year.

Epic TV, positioned as the country’s first genre-specific Hindi entertainment channel, was first announced in May 2013 (Mahesh Samat to launch Hindi GEC Epic in August). The channel will offer content set against the backdrop of Indian history, folklore and mythology, in a contemporary format. It had even gone on to announce the advertising agency, iContract, that had been assigned the creative duties of the channel (iContract bags creative duties of Mahesh Samat's GEC EPIC).

According to media reports, Samat who was the former Disney India head, had received a commitment of Rs 175 crore from investors or venture capitalists for Epic TV.

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