MxMIndia

Tag: Reliance ADAG

  • For nearly 40 years, Sharma's partner Tony Jesudasan was the public face of the Reliance Group. Jesudasan passed away in February 2023.

    Reliance ADAG appoints Parul Sharma as Group President

    By Our Staff

    Parul Sharma

    The Reliance group has announced the appointment of Parul Sharma as Group President with effect from today (June 20, 2023). Sharma will be based in New Delhi.

     

    Sharma steered the communications strategy for Star India for 15 years, shaping its corporate image, publicity and relationships. Prior to that, she was with the German broadcaster ‘Deutsche Welle’ based in Cologne. In 2017, she left Star to focus on photography. Working at the intersection of architecture, urban landscapes and the human form, she has exhibited her work across continents. Her work on the Kumbh Mela being displayed at the prestigious Florence Public Museum ‘Marino Marini’ in 2019. Her 2020 book ‘Dialects of Silence’ chronicling Covid deaths and the plight of migrants. A second book ‘Colaba’ is due later this year.

     

    Welcoming Parul to the Reliance group, Anil Ambani said, “I am pleased that Parul is joining us as Group President. While this is her first professional association with the Group, she has for long been a part of the broader Reliance family as Tony’s partner. Our memories of Tony and what he meant for the Group makes Parul’s entry all the more special.”

     

    For nearly 40 years, Sharma’s partner Tony Jesudasan was the public face of the Reliance Group. Jesudasan passed away in February 2023.

     

    “Stepping in Tony’s shoes is not the easiest thing to do but he would be pleased to see me try,” said  Sharma. “Besides my experience with global media outlets, I hope to blend empathy and humanism in my stakeholder management. This is a transformative journey for Reliance Group that seeks to uphold the enduring spirit of the past.”

     

  • Singh has held leadership roles at Reliance ADAG, Percept and SVG Media

    BasicFirst appoints AD Singh as Marketing Head & Chief Digital Strategist

    By A Correspondent

     

    AjayDev Singh

    BasicFirst, a personalised e-learning platform, has announced the appointment of AjayDev Singh as Marketing Head and Chief Digital Strategist. Singh has held leadership roles at Reliance ADAG, Percept and SVG Media.

     

    On the appointment, Randhir Kumar, Founder and Chief Mentor – BasicFirst said: “As an e-learning brand, we are committed to helping students achieve academic goals by leveraging the unique combination of content-based learning and doubt clearing. Ajay Dev’s experience in the mainline and digital domains will be conducive to our growth, accelerating BasicFirst’s presence in the e-learning space.”

     

     

  • Pursuant to the transaction, the buyer will acquire the entire shareholding of RBTV with business on “as-is where-is” basis, along with all existing trade and contingent liabilities

    Reliance ADAG to sell DTH biz to Veecon Media

    By A Correspondent

     

    Reliance Communications Limited (RCOM) has entered into binding Memorandum Of Understanding with Veecon Media and Television Limited, for sale of its subsidiary Reliance Big TV Limited (RBTV), engaged in the business of direct-to-home (DTH) services across India.

     

    The transaction ensures that all existing 1.2 Million customers of RBTV shall continue to enjoy uninterrupted services. It also ensures the continuity of employment for approximately 500 employees of RBTV.

     

    Post the transaction, Veecon will acquire the entire shareholding of RBTV with business on “as-is where-is” basis, along with all existing trade liabilities and contingent liabilities.  The existing DTH licence of Big TV shall be renewed with the submission of the required Bank Guarantees with the Ministry of Information and Broadcasting by the buyer.

     

    The transaction will help reduce the liability of unsecured creditors, benefitting all stakeholders including lenders and shareholders of RCOM.

     

    The transaction is in consonance with the RCOM’s stated objective to focus on B2B businesses of New RCOM, notes a communique.

     

    The successful culmination of the transaction is subject to the requisite approvals from licensors, regulatory authorities and lenders of RCOM.

     

  • While Big Magic & Big Ganga and the four licences will be part of ZEEL, 49% of 92.7 Big FM becomes part of Zee Media

    Reliance ADAG exits television, 49% of radio. Sells to Zee

     

    By A Correspondent

     

    The Zee group has acquired the Reliance Broadcast Network Limited’s entertainment channels (plus four other licences it owns) along with 49 per cent stake in 92.7 Big FM. The transactions will help reduce exposure in non-core businesses and work towards further reducing debt under Reliance Capital, said Sam Ghosh, Executive Director and Group CEO, Reliance Capital.

     

    Radio:

    The Board of Directors of Zee Media Corporation Limited has approved acquisition of 49% stake in 92.7 BIG FM, the radio broadcasting business of Reliance Broadcast Network Limited.

     

    Reliance Broadcast Network Limited runs the largest network of FM radio channels in India – 45 operational licenses (issued under Phase II and migrated to Phase III) and 14 new licenses (issued under Phase III). The FM channels are being broadcast under the brand “92.7 BIG FM”, reaching to 45 cities, 1200 towns and over 200 million people. It reaches out to around 43 million listeners per week and engages with a large number of national and local advertisers.

     

    Reliance Broadcast Network Limited shall be transferring the 45 operational and 14 new licences into two SPVs respectively along with the assets and liabilities. ZMCL shall acquire 49% stake in each of these two SPVs. ZMCL and Reliance Broadcast Network Limited shall also have a call/put option to acquire/sell the balance 51% after the lock-in provisions on the permission holder of these licenses expire. As per MIB regulations, at least 51% shareholding needs to be held by the permission holder for a minimum period of three years from the date the channels were operationalised. The lock-in period for the 45 operational licenses shall expire on March 31, 2018, whilst the lock-in period for the 14 licences shall expire after the expiry of three years from the day all 14 licences shall have become operational, which is expected to be around March 2020.

     

    Said Rajiv Singh, COO, ZMCL: “We are pleased to announce this acquisition which shall not only be complementary to our current business but accelerate its growth too. We are currently running successfully a bouquet of 11 news and current affair channels and with the addition of 59 radio licenses, we will be reaching out to a much increased audience base and will keep them engaged on different media platforms. This acquisition shall bring about the desired business diversity and will help in achieving the sound financial objectives at an accelerated pace. We are confident that this investment will enhance value for all stakeholders and looking forward towards this exciting journey to take the company to the next level.”

     

    Said Sam Ghosh, ED and Group CEO, Reliance Capital in a statement: “We are happy to bring in Zee Media as our partner in the Radio business. This transaction is part of our strategy to reduce exposure in non-core businesses and work towards further reducing debt under Reliance Capital”.

     

    The proposed transaction remains subject to regulatory approvals including Ministry of Information & Broadcasting. The transaction is expected to close in the first half of CY2017.

     

    Television:

    Meanwhile, the Board of Directors of Zee Entertainment Enterprises Limited (“ZEEL”) has also approved the acquisition of the general entertainment broadcasting business undertaking of Reliance Big Broadcasting Private Limited, Big Magic Limited and Azalia Broadcast Private Limited, all part of Anil Ambani-led Reliance Group entities through a scheme of demerger and execution of definitive agreements in relation to such proposed acquisition..  The TV Broadcasting business of Reliance Group Entities currently comprises two operational general entertainment channels (“BIG Magic” and “BIG Ganga”) and 4 other TV licenses.

     

    BIG Magic is a Comedy channel catering to Hindi Speaking Markets. BIG Ganga is a leading Bhojpuri entertainment channel catering to audiences in Bihar, Jharkhand and Purvanchal. The channels are available on all major MSOs and DTH operators.

     

    The General Entertainment TV Broadcasting business undertaking along with its assets, liabilities, licenses, trademarks etc. shall get demerged from “BIG Magic Ltd”, “Reliance Big Broadcasting Private Ltd” and “Azalia Broadcast Private Ltd” into ZEEL through a court-approved scheme.

     

    Said Punit Goenka, MD & CEO, ZEEL: “We are pleased to announce this acquisition which further adds to our expanding universe of general entertainment channels. Big Magic gives us access to comedy genre enhancing our customer offerings. Big Ganga, a leading Bhojpuri channel syncs with our strategy of expanding into the regional markets which offers attractive growth potential. I am confident that these two channels will make the Zee Network channels more enriching for the audience and for the Company.”

     

    Said Sam Ghosh, ED and Group CEO, Reliance Capital: “We are happy to divest 100 per cent of our general entertainment TV business to Zee Entertainment. This transaction is part of our strategy to reduce exposure in non-core businesses and work towards further reducing debt under Reliance Capital.”

     

    The proposed transaction remains subject to approval of the shareholders and requisite regulatory approvals including stock exchanges, Ministry of Information & Broadcasting and the Bombay Hight Court. The transaction is expected to close in the second half of CY2017.

     

  • It’s official! Omnicom to pick up majority stake in Mudra

    Omnicom Group Inc announced that it has entered into an agreement to acquire a majority stake in the Mudra Group. As part of the agreement, Omnicom will extend its partnership with the Reliance ADA Group.

    Mudra will significantly expand Omnicom’s service capabilities and presence in India. The Mudra Group comprises: branding and communications agency Mudra India; marketing and advertising agency DDB Mudra; integrated engagement and experiential agency Mudra Max; and Ignite Mudra, an agency that caters to entrepreneurs. Mudra has 26 offices across the country and an extensive field activation network.

    In conjunction with the strategic partnership, Reliance Group Chairman Mr Anil Ambani will join the Omnicom International Advisory Committee. “This acquisition is an important step in achieving Omnicom’s strategy to extend and deepen our presence in rapidly growing markets,” said John Wren, President and CEO of Omnicom Group in a communique. “Our vision is to be a source of innovation in every market we serve. Mudra is widely acknowledged as an outstanding company with impressive creative product and expertise in a broad range of disciplines. Mudra’s innovation and depth of talent will strengthen our business capabilities not only in India but around the world.”

    “DDB has been an excellent partner over the years. We have benefited immensely from the collaboration and transfer of knowledge from around the globe. We are proud to belong to such a storied network,” Mudra Group CEO Madhukar Kamath said. “Omnicom and DDB have clearly been the inspiration for Mudra Group’s transformative growth over the last five years. My colleagues and I look forward to the next decade of explosive growth in the Indian market.”

    DDB Worldwide President and CEO Chuck Brymer noted, “This acquisition will further unite two companies that have long held the same values, creative goals and ambitions. Under Madhukar’s leadership, Mudra is the original challenger brand of the Indian communications industry, and it shares DDB’s culture of creative excellence. Together, we will create even greater growth for our clients in this rapidly changing, technologically driven region.”

    DDB and Mudra Group’s shared history is rooted in a relationship that began in 1988 and has grown tremendously since the formation of DDB Mudra in 2007, which established DDB India, Tribal DDB, Rapp and DDB Health & Lifestyle in the Indian market.

    John Zeigler, CEO, DDB Asia Pacific, added, “Mudra has an impressive history as both creative leaders and strong believers in integrated solutions making them one of the most innovative companies in India.”

    Omnicom Group EVP and CFO Randall Weisenburger also noted, “In addition to significantly expanding our service capabilities in the region, this partnership will bring with it an exceptional Shared Services and Operations Center in Ahmedabad that will help Omnicom more efficiently expand its other operations in India. Additionally, Mudra recently moved into a new headquarters facility in Mumbai called Mudra House, a sustainable building and one of the few in India to be awarded LEED (Leadership in Energy and Environmental Design) Gold certification. Mudra House is widely acclaimed for its conservation features and state of the art technology.”