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James Murdoch talks on Star’s cricket portfolio, new rights, EBITDA target, Hotstar and Tata Sky. “We’re well on track for our targets in India of $500 mn EBITDA next year and thereafter. So, no, we don’t have any plans to do anything complicated with cricket rights that would jeopardise that. When we see any new rights come up, we approach them in a disciplined way,” he says.
ZEEL will buy 9X Media for around Rs 170 crore as part of a broader plan to build a strong vertical around music channels, music labels and film production across languages. Sister company ZMCL will have FM radio biz. The deal is attractive on valuation terms as the price is one-time 9X Media’s sales. Will it lead to more deals in the space? How will it impact the music TV genre?
After unloading its sports broadcasting biz to Sony, ZEEL will see its subscription revenue come under some pressure but the positive feature is that collections from DAS Phase III and IV areas will see growth in future. In FY17, ZEEL received Rs 231.3 cr from Dish TV, up 26% YoY. Siti Networks contributed Rs 70.7 cr, up 4.6% from Rs 67.6 cr in FY16.
Hathway video biz CEO TS Panesar has resigned. He departs at a time when the cable TV biz has been transferred to a wholly owned subsidiary while the broadband operations is in the parent company. He introduced several changes, brought in processes and launched VAS. His successor will live in a new period of the company’s journey and face new challenges.