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Is Rajeev Chandrasekhar buying TV9?

Author | exchange4media News Service | Saturday, Jul 15,2017 9:12 AM

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Is Rajeev Chandrasekhar buying TV9?
Going by the latest buzz in the industry, Rajeev Chandrasekhar, CEO of Jupiter Capitals, is set to buy majority stakes in the Kannada news channel, TV9.  Highly placed industry sources told exchange4media that Chandrasekhar may buy upto 60% stakes in the channel. However, when contacted for confirmation Chandrasekhar denied the claim.
 
Speculation has been rife around the sale of TV9 for a few years now. Earlier it was said to be on the radar of Subhash Chandra of Zee, Times of India and Raghav Bahl as well.
 
Srinivasa Raju, who is believed to be selling his stakes told exchange4media that he is in talks with four companies as of now but is bound by an agreement to not reveal their names.
 
“Four companies talking. Signed NDA (Non-disclosure Agreement). Can not disclose names,” read Srinivasa’s text message. 
 
Various reports have alternatively speculated on the worth of Raju’s stake in TV9 placing the figure between the range of Rs 500 crore to Rs 600 crore.
 
TV9 is run by Associated Broadcasting Company Limited (ABCL), which was founded by Ravi Prakash. The network consists of an impressive line-up of regional channels in languages such as Telugu, Kannada, Gujarati and Marathi. At the end of fiscal year 2015-16, as many as six channels of TV9 Group had combined unaudited revenues of Rs 188.56 crore.
 
The top 3 channels of TV9 had a total revenue of Rs 160.44 crore (unaudited) as of March 2016 while the revenue projections for the top 3 channels in March 2017 were said to be valued at Rs 185 crore.
 
Channel Revenue (Rs. in cr) EBIDTA (Rs.in cr) Channel Position(as per BARC Ratings)
  16-Mar 17-Mar 16-Mar 17-Mar  
  Unaudited Projections Unaudited Projections  
AP 76.31 84.80 35.26 39.20 No.1
KA 60.60 72.40 26.25 34.54 No.1
GJ 23.53 27.80 0.87 0.79 No.1
MH 14.00 21.40 (18.34) (11.28) No.3
News9 10.10 17.10 (4.56) 1.81 No.1
TV1 4.02 4.80 (1.50) (1.47) -
Total 188.56 228.30 37.98 63.59  

 Top 3 channels:

Channel Revenue (Rs. in cr) EBIDTA (Rs.in cr) Channel Position(as per BARC Ratings)
  16-Mar 17-Mar 16-Mar 17-Mar  
  Unaudited Projections Unaudited Projections  
AP 76.31 84.80 35.26 39.20 No.1
KA 60.60 72.40 26.25 34.54 No.1
GJ 23.53 27.80 0.87 0.79 No.1
Total 160.44 185.00 62.38 74.53  

 

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