TelecomLive April 2024

Sun TV Network Q3 PAT up 7 pc to Rs 454 cr Sun TV Network reported 6.81 pc increase in consoli- dated PAT at Rs 454 cr for the third quarter ended December 2023. The company had reported a PAT of Rs 425.10 cr inOctober-December FY23. Revenue from operations rose to Rs 923 cr from Rs 887 cr. Total expenses were at Rs 451 cr, up 7.86 pc from the year-ago period. Total income was higher by 7.5 pc to Rs 1,059 cr. Sun TV Network operates satellite television chan- nels across six languages – Tamil, Telugu, Kannada, Malayalam, Bangla and Marathi, and airs FM radio stations across India. It also owns SunRisers Hyderabad Cricket Franchise of IPL, SunRisers Eastern Cape of Cricket South Africa's T20 League, and digital OTT plat- formSunNXT. Hungama Digital to raise Rs 50 cr through rights issue Hungama Digital Media Entertainment plans to raise Rs 50 cr through a rights issue, with the fund infusion expected to be completed by the end ofMarch. Hungama is backed by Intel Capital Corporation, Bessemer Venture Partners Trusts, XIAOMI Singapore and Rare Enterprises, the investment firm of the late Rakesh Jhunjhunwala. [ News Bytes ] 78 www.telecomlive.com C a r e R a t i n g s h a s revised the rating assigned to the bank facilities of Hungama from stable to negative on account of the weak operational perfor- mance and losses regis- tered inFY23. It has licenced exclusive digital rights for over 30 mn music and video titles worldwide, which are monetized across various digital media platforms. T h e c o m p a n y h a d recorded a net loss of Rs 6.29 cr against a profit of Rs 7.42 cr in FY22. Its revenue witnessed a mar- ginal increase fromRs 335 cr inFY22 toRs 346 crore. Reliance, Disney announce deal to cre- ate $8.5 bn media goliath Reliance Industries Ltd (RIL), Viacom 18 Media, and TheWalt Disney Com- pany have agreed tomerge Viacom18 and Star India to create a joint venture that will be valued at Rs 70,352 cr ($8.5 bn). Viacom18's media busi- ness will be merged into Star India through a court- approved arrangement as part of the transaction. RIL has committed to investing Rs 11,500 cr ($1.4 bn) into the jv for its growth strategy. RIL, Viacom18, and Disney will own and con- trol 16.34 pc, 46.82 pc, and 36.84 pc of the jv, respec- tively. Disney may con- tribute additional media assets to the jv, pending regulatory and third-party approvals. Nita Ambani will serve as the chairperson of the jv, while Uday Shankar will provide strategic guid- ance to the jv as its vice chairperson. The jv will be one of the TelecomLIVE April 2024 BPO & Broadcasting leading TV and digital streaming platforms for entertainment and sports content in India, bringing together iconic media assets across entertain- ment and sports including access to highly antici- pated events across televi- sion and digital platforms through JioCinema and Hotstar. The jv will have over 750 mn v i ewer s across India and will also cater to the Indian dias- pora across theworld. The j v wi l l a l so be granted exclusive rights to distribute Disney films and productions in India, with a license tomore than 30,000 Disney content assets, providing a full suite of entertainment options for the Indian consumer. Broadband, OTT may keep Tata Play in good stead amid DTH dip Tata Play's revenue from the core DTH busi- n e s s i s p r e d i c t e d t o decrease in the medium term due to moderation in its subscriber base. Still, this decline is anticipated to be offset by growth in broadband and OTT busi- nesses. According to a report by Crisil, the company's oper- ating margins may face pressure in FY24 and FY25 due tomoderation in the DTH subscriber base, partially offset by OTT agg r ega t or Ta t a P l ay Binge's improved metrics and Tata Play Broadband's expected breakeven. The company's DTH subscriber base decreased in Sep 2023 compared to Sep 2022 due to competi- tion from DD Free Dish & OTT platforms. Company is backed by Tata Sons, Walt Disney, &Temasek.