MxMIndia

Tag: Sony pictures television

  • Once regulatory permissions are in, Sony will have Six, ESPN and TEN in its sports portfolio

    Mother-of-all-deals! Sony acquires Ten from Zee @ Rs 2.6k crore, Zee to exit sports for 4 yrs

    NP Singh of Sony Pictures Network and Punit Goenka of Zee Entertainment signing the agreement for the sale of the Ten Sports​ bouquet

     

    By A Correspondent

     

    Okay, we did know that the Zee group was keen on hiving off its sports channels. And we did know that Sony Pictures Network has major plans with sports, and has been hungry for acquisitions. But this announcement was big by all standards, and involved two broadcast superpowers.

    On Wednesday, Sony Pictures Networks India (SPN) announced that SPN and its affiliates have entered into definitive agreements to acquire TEN Sports Network from Zee Entertainment Enterprises Limited (ZEE) and its subsidiaries for 385 million US dollars. The completion of the acquisition is subject to regulatory approval.

    The Ten Sports channels being acquired include Ten 1, Ten 1 HD, Ten 2, Ten 3, Ten Golf HD, Ten Cricket, Ten Sports that operate in several countries including the Indian sub-continent, Maldives, Singapore, Hong Kong, Middle East, Caribbean.

    What this means is that the Zee group which had pioneer private league sports with the Indian Cricket League,  will now exit sports for the moment. For, as part of the deal, there is a non-compete clause which prevents Zee from getting into sports. This will also prevent Zee from participating in the auctions for the Indian Premier League due next year.

     

    It may be noted Ten Sports holds broadcast rights to major cricket boards (South Africa, Pakistan, Sri Lanka, West Indies and Zimbabwe). In addition, Ten Sports holds rights to wrestling (WWE), football (UEFA Champions League, UEFA Europa League, French League, English Football League Cup), tennis (WTA Events, ATP events), golf (European Tour, Asian Tour, Ryder Cup, US PGA Championship, LPGA Tour, Professional Golf Tour of India and Golf Channel Block), athletics (Asian Games, Commonwealth Games), motor sports (Moto GP) and cycling (Tour de France) events.

     

    Commenting on the acquisition, NP Singh, CEO, Sony Pictures Networks India said: “I welcome Ten Sports to the Sony family. The acquisition of Ten Sports Network will strengthen SPN’s offering for viewers of cricket, football and fight sports, complementing our existing portfolio of international and domestic sporting properties. It also aptly demonstrates SPN’s commitment to providing a broad range of sporting entertainment to fans across India and the sub-continent.”

     

    Andy Kaplan, President, Worldwide Networks, Sony Pictures Television added: “India has been a strong driver of Sony Pictures’ growing networks business for two decades, and sports continue to play a significant role in that growth. The acquisition of TEN Sports, following the launch of SONY ESPN channels, will mean that our Indian networks would reach over 800 million viewers and broadcast many of the most popular and prestigious sporting events in the world.”

     

    Punit Goenka, Managing Director, Zee Entertainment Enterprises Limited (ZEE) said: “This is a landmark deal for Zee and a step towards a strategic portfolio shuffle as we grow our general entertainment business both in the domestic and overseas markets. While we have grown our sports business over the last 10 years through acquisition of content at competitive prices, our focus now is on transforming ourselves into an all-round media and content company, comprising of five verticals, viz. broadcast, digital, films, live events, and international business; and we continue to move rapidly towards our set business goals. While I have always been proud of our sports business, I strongly believe that Sony will add more value to it by taking it to even greater heights. I wish them all the success.”

     

    According to industry and market observers, the move should help shore up the bottomline for Zee Entertainment. Sports has been a downer for Zeel, having not been able to measure up to the power of Star India in terms of rights for various sporting events, said an analyst on anonymity. “It’s better to not be a laggard, then just be in business for the sake of having your fingers in every pie.”

     

  • HOOQ is a joint venture by Singtel, Sony Pictures Television and Warner Bros

    Former Dish TV COO Salil Kapoor joins HOOQ as MD

    By A Correspondent

     

    HOOQ, Asia’s first premium video-on-demand service, has announced the appointment of Salil Kapoor, former COO at Dish TV India Ltd, as Managing Director of its India operations. As country manager, Kapoor will push the company’s goals of getting India HOOQd via the video-on-demand service landscape in India.

     

    HOOQ, a joint venture by Singtel, Sony Pictures Television and Warner Bros, claims delivery of over 30,000 hours of Hollywood and Bollywood blockbusters along with popular regional and local programmes.

     

    Commenting on his new role, Kapoor said: “It is an exciting opportunity for me to be associated with HOOQ and lead its India operations since this is clearly the future of entertainment. A developing country with an interesting demographic mix, India offers several opportunities for technologies like Cable, DTH and on demand services like HOOQ to co-exist. With growing interest in enjoying an uninterrupted viewing experience and internet penetration on the upswing, more and more time stressed viewers prefer enjoying their daily dose of entertainment at their convenience.The freedom of enjoying premium content from anywhere and at any time clubbed with better internet connectivity and growing smartphone penetration will drive the subscriber growth for HOOQ. I look forward to taking the HOOQ brand philosophy to the next level.”

     

    Prior to HOOQ, Kapoor was Chief Operating Officer at Dish TV for over seven years and has also been associated with LG (as CMO),  Microsoft and Samsung.

     

  • Subject to regulatory approvals, Multi Screen Media Private Limited (MSM) will be renamed as Sony Pictures Networks India Private Limited (SPN)

    MSM rebrands itself as Sony Pictures Networks

    By A Correspondent

     

    In sync with its intent of becoming the leading choice of television entertainment in India, Multi Screen Media (MSM) has rebranded itself. The rebranding includes both, the name as well as logo change.

     

    Subject to regulatory approvals, Multi Screen Media Private Limited (MSM) will be renamed as Sony Pictures Networks India Private Limited (SPN).

     

    Andy Kaplan, President Worldwide Networks, Sony Pictures Television (SPT) said “Our channels in India represent an important part of Sony Pictures Television’s global portfolio and we are proud to be part of the fabric of the diverse Indian culture. As we celebrate bringing the best entertainment to viewers in India for 20 years, it’s only fitting that these networks be branded as part of our Sony family. Like the Sony brand, which stands for innovation, creativity and delight, SPN brings the same qualities to our viewers.”

     

    NP Singh, CEO, Multi Screen Media (MSM) added: “As MSM, we’ve served television audiences worldwide for the last 20 years, during which time we pioneered new formats, new shows and actually set the trends for television entertainment. We changed the dynamics of how cricket and cinema were viewed on Indian television and contoured a variety of genres in TV entertainment. So, while ‘Kaun Banega Crorepati’ and ‘Dus Ka Dum’ created new waves in television gaming, ‘Boogie Woogie’ and ‘Indian Idol’ brought the commoner’s talent on the telly. We were also the first ones to embrace the cultural fabric of India by providing SAB – an out-and-out family humour channel.”

     

    “The strategic intent behind rebranding Multi Screen Media (MSM) into Sony Pictures Network (SPN) is to align with our parent company and thereby accrue the benefit of global synergies. The new logo is our way of creating a picture from a pixel; a campaign from an idea and a revolution in progressive television entertainment. Going forward, Sony Pictures Networks will steer its helm on three levers, namely – General entertainment, sports and digital. With a comprehensive bouquet of varied channels, we are equipped today to serve India’s population both, in the urban and rural areas as well across geographies.”

     

  • The Sony Pictures Television EVP and GM in Asia will cross over to Turner as the APAC boss

    Ricky Ow to replace Steve Marcopoto as head of Turner in APAC

    By A Correspondent

     

    International television executive Ricky Ow will join Turner International as President of Turner Broadcasting System Asia Pacific effective January 2014, it was announced today by Gerhard Zeiler, President of Turner Broadcasting System International. In August this year, Steve Marcopoto had announced that he will step down as President and Managing Director, Turner International Asia Pacific  at the end of his contract next month (Dec 2013).

     

    At the time of Mr Marcopoto’s announcement, it was mentioned that  he would stay on as a Senior Advisor to Mr Zeiler, to ensure a seamless transition and provide continuity on current new initiatives, but this has not been stated in the Turner communiqué on Mr Ow.

     

    As President of Turner APAC, Mr Ow will have executive oversight for all entertainment and kids networks, the digital and media services offered, the distribution of CNN’s services in that region, and all licensing and merchandising activity in APAC.

     

    “We are delighted that Ricky is joining us and look forward to the leadership and wealth of international media experience he will bring to one of the most strategically important areas of Turner International,” said Mr Zeiler.

     

    “I am very excited to join Turner and it is an honour to work with Gerhard and the team that has built some of the most valuable media brands in the world including CNN, TNT, Cartoon Network, Pogo and Turner Classic Movies,” said Mr Ow.

     

  • Not really, say broadcasters, as they work towards bringing the newest seasons of popular shows

    Is internet killing viewership of English GECs?

     

    By Meghna Sharma

     

    Dying to watch the latest season of Big Bang Theory or want to know who’s going to win the current MasterChef Australia series? Then, you have two options: either download it or wait for a channel to telecast it here.

     

    Of course, many of us opt for the first option as Indian channels still lag in getting the latest seasons of these international shows to India . MxM India explores if the internet is indeed posing a threat to the genre.

     

    Internet, a menace?

    Anurag Bedi

    Consumer trends have changed over the past few years; and if one gets his dose of entertainment, it doesn’t matter it’s on which platform. “The viewer is platform-neutral. So, as far as one gets certain amount of entertainment quotient, it doesn’t matter even if he’s doing it illegally i.e. by downloading. And with the internet reaching out to every nook and corner of the country, it won’t be wrong to say that internet poses a threat to content owners or channels,” explains Karthik Sharma, managing partner, Maxus.

     

    The internet remains the biggest threat to the English general entertainment channels. Most of these channels are not able to telecast various popular international shows like Games of Throne, Weeds, Sherlock and others, hence viewers log online.

     

    Saurabh Yagnik

    “Today, the television audience is experimenting with content. They are quite receptive to exploring new, innovative and unconventional content. Considering the change in lifestyles and the impact of globalization, our audience is more aware than ever. Viewers have the knowledge of the scope of entertainment available on various platforms,” said Anurag Bedi, Business Head, Zee Cafe.

     

    Saurabh Yagnik, GM & senior VP, English Channels, STAR India Pvt. Ltd added: “STAR World’s constant endeavour has been to bring international shows to India , at the same time as their broadcast in US. We, in fact, had the World Television Premier of shows such as Missing, Touch on our channel. Even for Masterchef Australia Season 4, we are broadcasting the show very close to its telecast in Australia this time. This also becomes possible due to our strong and exclusive associations with international production houses such as Disney, Fox, and others.”

     

    Ricky Ow

    On an optimistic note, Ricky Ow, executive VP, Networks, Asia, Sony Pictures Television feels that though the internet adds to the competition, it helps one realize what the market is looking for: “If one studies the internet, then it can definitely turn out to be an asset as it gives us an opportunity to look at what the audience is interested in. For example, it helps us know what the India n audiences’ interests are outside AXN.”

     

    However, the newest entry on the block, Comedy Central’s Ferzad Palia, senior VP and GM – English Entertainment, Viacom 18 Media Pvt Ltd feels that internet should be seen as a complimentary asset rather than just as competition. “With technology, the social mindsets of people are changing too. And now people have become more accepting towards western culture. Thus, it’s good for us as more and more people identify with the content.”

     

    Ferzad Palia

    The buying game

    There is no doubt that the English-language general entertainment market is developing. Almost every channel is trying its level-best to keep the audience hooked on by getting more and more international shows to the living rooms. One question still remains: why are channels not able to show what their TG wants?

     

    “It is difficult to bring popular international shows to India , especially at the same time as their release in other markets. However, we have been driving our efforts to realize this for a long time with our property titled Torrentz, wherein we brought international shows very close to their release in other markets,” said Mr Yagnik.

     

    New channels coming up are giving a tough competition to the likes of Star World, Zee Cafe and AXN. Media professionals feel that, though the competition is good, it can become a burden on English channels as they have a limited TG. This has lead to rise in the cost of procuring rights. So, if a channel is paying more for an acquisition of shows which are popular abroad, they might not be able to recover money as mass channels do.

     

    Mr Ow added that though it cannot be categorized as easy or difficult, the onset of more channels has definitely risen the costs: “If we want a show, we try our level best to get it. AXN’s programming formula is simple – we are an action-adventure destination. Therefore, it narrows down the competition as we look for series, movies or reality shows which cater to that genre.”

     

    On the other hand, Mr Palia feels that though procuring rights is a complicated process, nothing is easy when it comes to running a channel. “It’s a part and parcel of starting a channel. What is more important is the selection process of the shows which will interest the India n audience. Demand for international shows has increased in the country of late and people have become choosy about what they want to watch.”

     

    Hence, many channels are now associating with production houses or producing their own shows as they feel it will help them grow their market without too much of a trouble.

     

    Vishal Rally

    “There could be 100 popular international shows, but we cannot telecast them all. So, a channel needs to choose what their TG wants. Thankfully, we are backed up with a studio and a JV which allows us to telecast shows simultaneously in India as well. We telecast shows like Survivors, NCIS at par with their international seasons. That’s our USP,” said Vishal Rally, business head, BIG CBS Network.

     

    Nevertheless, most channels agree that it isn’t an easy task to get good international shows to India , but to keep the competition at bay, they have to try to out-do internet but also each other by bringing the latest shows to their audience’s living rooms ASAP.

     

    Many broadcasters are also aware that the internet viewership of popular shows is small, and the public still prefers a bigger screen experience. As one broadcaster said, high speed broadband connections exist, but not with everyone. And the buffering is a pain. It’s a huge negative for the viewers who watch English GECs.

     

    But low broadband speeds and poor connectivity will soon be a thing of the past, right? Yes and so will dated soaps and old seasons be, says the broadcaster, requesting anonymity. “Right now, we are catching up with old seasons since most people haven’t watched them… For instance, how many people have watched The Newsroom, which has been receiving rave reviews?” There’s also an issue of copyright and picture quality. “Some of what you see on YouTube is pirated and is being yanked off the site when caught in the act. And if it is available somewhere, it appears to have been recorded on the microwave oven… Who wants to view Masterchef where a tomato looks like a potato!!!”

     

    Hmmm. Surely reason for us to wait and watch. Or in this case, watch and wait.

     

  • With Sony Pictures Television announcing its decision to buy 32 per cent stake from minority shareholders in a phased manner, its equity in Multi Screen Media (or MSM which runs the channels Sony, Sab, Max etc) will go up to 94 percent. This, says CEO Man Jit Singh, reflects Sony commitment in MSM and will allow the Indian enterprise to grow faster

    Sony’s stake hike allows MSM flexibility: Man Jit Singh. Regional/niche channels on anvil

    This is one soap that Sony Entertainment Television bosses are happy to see the end of. Over two decades ago, a group of seven entertainment industry biggies (including then superstar Jackie Shroff) and Sony Pictures got together to launch Sony Entertainment Television.  There were also rumours of senior minister Sharad Pawar’s brother-in-law Sadanand Sule having a stake. Multi Screen Media, as the company was called, had a complex shareholding, as is the case with many Indian corporations.

     

    Four years back, the minority shareholders were in a legal tangle which was finally resolved, but it was evident that they wanted to cash out soonest.

     

    So when the communique reaches media inboxes on Sony Pictures’s announcement of an agreement to acquired around 32 per cent of MSM’s shares currently held by Grandway Global Holdings Limited and Atlas Equifin Private Limited. The transaction, which will bring Sony’s stake in MSM to a little over 94 per cent, will close by end-December 2012.

     

    Under the terms of the agreement for this acquisition, aggregate cash consideration of $271 million will be paid by SPT to Grandway and Atlas, subject necessary government approvals, with $145 mn to be paid by December 2012 when the transaction ends and the balance $126 million will be paid in in three equal annual installments starting from the fiscal year ending March 31, 2014.

     

    “SPT has enjoyed great success with our channels in India and this acquisition further demonstrates our commitment to entertaining Indian audiences,” said Andy Kaplan, president, worldwide networks, SPT in a statement. “We’d especially like to thank Grandway and Atlas for their entrepreneurial spirit that helped to get this venture off the ground 17 years ago.”

     

    MSM chief executive Man Jit Singh (who as a Sony representative was chairman of the Board even when Kunal Dasgupta was CEO) spoke to MxMIndia’s Pradyuman Maheshwari from London on phone. Excerpts from the interview:

     

    This thing has been going back and forth for a while between Grandway, Atlas and Atlas.

    Yes, it’s been some time.

     

    So, is it only a cash transaction or with there be a non-cash consideration as well?

    As stated in the press release that it is $271 mn transaction of which there is a upfront payment of $145 mn and then three equal installments.

     

    And the balance 6-odd per cent?

    The balance 6 per cent  is held by a fund called the Capital Group which is not part of this transaction.

     

    Capital has had some stake for a while…

    Yes, they’ve held the stake from 2001. The Indian stakeholders are exiting. Capital Group is another transaction.

     

    Are you happy with the 1 bn-odd valuation of the company?

    We are delighted with the valuation which happened at the end of an extensive private equity process which determine the market value and then Sony stepped in and decided to acquire the stake, which for us is great news. Because now: a) it show Sony’s commitment towards India and to the channel operation and b) it will give us a lot of flexibility in running our business. And we’ll be able to make investments as we go forward. So, we are delighted with this news.

     

    In the year around 1999, I think the evaluation was something around 2.5 bn. And that was of course the first high that Sony had reached. And now it’s come down quite a bit.

    As you know, perhaps it was a little later. But as you know during the dotcom period the valuations which were thrown around were extraordinarily high. I think that it was a moment in time, the markets have settled and businesses have fairly matured and I think the valuations are where they are and they are correct.

     

    You mentioned that this will allow some more freedom for doing various things so anything on the anvil. You’ve spoken about regional channels in the past and you did buy this Bengali channel. Anything more…

    As you know, we are in the process of acquiring a stake in Maa TV which we have announced already and that will continue. We’ll take opportunities as they come and we now have the flexibility to move quickly and consummate those opportunities. And we look forward to doing that.

     

    Is there any particular direction that you are looking at?

    We are certainly looking at regional channels as we are interested in regional channel space. And as you know we have made a major investment in our sports channels. And we expect that sport is an area where you have to continue to buy rights when they become available because you have to bid for them. And we’ll be in a position to make those investments when they come to us.

     

    But those investments you have made. Sony is already investing a fair bit for this acquisition and you’ll have to make a lot more investments for all of this.

    Correct.

     

    That mandate you have received…

    Yes. By investing in MSM, Sony has shown its willingness and enthusiasm for the Indian market. And they are very very open to continue….

     

    Is there anything else you are looking at other than channels because digitalization will allow all that to happen?

    Absolutely. We believe that digitalization is going to make us able to deliver different kind of content to smaller segments of viewership. So we believe that there will be opportunity to create niche channel. This will certainly help us by allowing us to look at all those opportunities. We believe there is a good amount of things that can be done over the next two-three years.

     

    The last two years have been tremendous for MSM because we have Sony doing so well, SAB is doing so well and IPL hasn’t been too bad. So would you credit that for the way things are right now and at Sony’s commitment?

    I think you have to look at Sony’s commitment which was committed in the good times as well as in the bad times to MSM. It is only that its bigger commitment is to the Indian market. Sony has always believed that India is one of the most important of the BRIC countries and it’s a place where Sony must invest and grow the market. So there has been a commitment to India. So we should give them credit for being consistent in their beliefs that India should be one of the key markets in which certain focus is on. And not only that but on the channel business, our electronic business side, it is a growth market for us on both sides.

     

    And will we see some synergies with all of that all, in the near future?

    Absolutely. This will give us much more flexibility to be able to create synergies between our electronic groups and our channel business. And we see opportunities to bring things together.

     

    Is there a possibility of a change of the company name now that Sony’s ownership is near-total? Perhaps Sony Entertainment Television…

    Why you don’t like MSM?

     

    No, I love it. One has got used to it. But still the fact is that now since it’s a Sony it could well be called that. Is it on the cards?

    I’ll be honest; we don’t have any plans to do that. But thank you, I’ll think about it (laughs). I’m quite happy with MSM, maybe because we all came up with it. There is no such plan. We are quite satisfied with it. Also, the channel is Sony Entertainment Television. So, I’m not sure if we’ll need to change the company name. Let’s put it this way, there has been no talk on this.

     

    With inputs from Meghna Sharma