Moving Picture Company, a television and film production house, is preparing to enter the regional news channel space. The company, promoted by TV and film producer Ramesh Sharma, is in advanced talks to acquire a controlling stake in the Delhi-based STV Enterprises, which operates news channels in Punjab, Haryana and UP.
Ramesh Sharma told Business Standard that Moving Picture Company is gearing up to enter the regional broadcasting space. “STV Enterprises is just one of the companies that we are talking to,” he said. J K Jain, chairman of STV Enterprises, is also talking to several potential investors, including Moving Picture Company, but admitted that “no deal has been signed yet.”
However, insiders say that due diligence is in progress and STV Enterprises has been valued at roughly Rs 100 crore. STV has licenses to operate five television channels. However, its news channel in Goa (Goa News) and music channel in Punjab (Balle Balle) are currently off air. Even Punjab Today, among the earliest news channels to be launched in the state, is facing stiff competition from a bevy of new players. But STV owns a teleport from where it can uplink over 20 television channels.
According to Ramesh Sharma, who directed the award-winning feature film New Delhi Times in 1986, content companies are re-working their business models to cover the entire spectrum comprising broadcasting, films and animation. Moving Picture Company is making a couple of feature films — including one on the life of artist Amrita Sher Gil — in collaboration with European production houses.
Besides, it is creating shows for channels such as Zoom, Sony, SetMAX and Zee. “It’s time for us to get into broadcasting. There is major growth in the regional media and we plan to acquire small players in this segment. We have sufficient funds,” he said, without naming the investors putting money behind his broadcasting venture.
