MUMBAI: Continuing the diversification of its television business, Lionsgate is partnering with television and music entrepreneur and producer Simon Fuller to develop a contemporary television musical drama chronicling the lives and loves of a young California rock ?n? roll band.

Fuller?s 25-year entertainment career has been highlighted by innovation and number one hits in TV, film, music, sports and fashion, and he has become famous for creating and producing ?American Idol?, developing the Beckhams into one of the world?s most recognisable talent brands and guiding the careers of music stars, such as Annie Lennox, Kelly Clarkson, The Spice Girls, Amy Winehouse, Carrie Underwood, Daughtry, David Cook, Adam Lambert and hit songwriter Cathy Dennis. He currently serves as Executive Producer on ?American Idol?, ?So You Think You Can Dance? and ?Q?Viva!: The Chosen?.

Lionsgate CEO Jon Feltheimer and Vice Chairman Michael Burns said, "Lionsgate?s growth has been built on our partnerships with some of the most successful entrepreneurs in the entertainment industry, and Simon Fuller is an entrepreneurial icon whose success in TV, film and music sets him in a class by himself. He has pioneered new brands with almost unique replicability around the world, and we?re thrilled to partner with him on a show that represents the latest and one of the most exciting chapters in the ongoing diversification of our television business."

Lionsgate Television Group President Kevin Beggs and Lionsgate Television COO Sandra Stern said, "Simon Fuller has created some of the most successful and enduring franchises in entertainment today. We believe that this musical drama about a young rock ?n? roll band will have global resonance with the same young audiences that have fueled the success of other Lionsgate franchises. From American Idol to Spice Girls, Simon has consistently demonstrated the ability to generate brands and formats with enormous worldwide appeal."

Fuller said, "I am full of positive anticipation for this new collaboration and delighted to partner with Jon Feltheimer, Kevin Beggs and the rest of the team at Lionsgate, one of the most dynamic and innovative companies in the entertainment industry. From ?Mad Men? and ?Weeds? to ?The Hunger Games?, Lionsgate has demonstrated the global perspective, creative instincts and marketing prowess to build successful franchises for the future. Our combined powers and vision promise to make for an exciting new entertainment property."

Lionsgate and Fuller have already launched a search across the US for four young actors who are also skilled musicians to portray the band members. Showrunner meetings are underway, and the series is being shaped for both broadcast and cable outlets.

MUMBAI: Pursuing a vertically integrated model, Eros International Plc is planning to take full control of B4U Television Network by acquiring the remaining 76 per cent stake for a cash and share consideration of $53.1 million (Rs 2.8 billion).

Eros already owns 24 per cent in B4U, the global Bollywood network that runs two channels. B4U Music and B4U Movies are available in more than 100 countries, including India, the UK, the US, Canada and countries in the Middle East and Africa.

Eros anticipates ?entering into a definitive agreement on or after 24 April to acquire control of B4U. The TV broadcast company is currently controlled by steel magnate Lakshmi Mittal and London-based industrialist Gokul Binani.

Eros International chairman and CEO Kishore Lulla said, ?We are delighted to announce our anticipated acquisition of the remaining 76 per cent of B4U. We expect that B4U?s global network, as well as its film and music content, will complement Eros? existing product offering."

The share payments may alternatively be made in cash at Eros? option.

Eros saidTuesday that the aggregate purchase price will consist of:

• B4U?s cash on hand net of all B4U?s outstanding bank loans and overdrafts (a net amount of up to $19.3 million) to be paid in cash on closing;
• Approximately $5.7 million in Eros A ordinary shares upon the earlier of 14 business days from the listing of Eros A ordinary shares on the NYSE or 30 days after closing (or, if the listing of Eros A ordinary shares on the NYSE occurs 14 business days prior to closing, at closing);
• Approximately $19.3 million (less the consideration in cash paid at closing) in cash and approximately $10.4 million in our A ordinary shares or cash, at the option of Eros, on the first anniversary of the closing of the acquisition; and
• Approximately $7.3 million in cash and approximately $10.4 million in our A ordinary shares or cash, at the option of Eros, on the second anniversary of the closing of the acquisition.
   

The deadline to close the transaction is approximately 120 days from the date of the definitive agreement unless mutually agreed to be extended.

Eros said that though it holds approximately 24 per cent of B4U, it has not exercised significant influence over the company.

Eros cautioned that the pending acquisition of B4U remains subject to customary closing conditions, including the receipt of necessary regulatory approvals, and may not occur on the expected terms or at all.

For the financial year ended 31 March 2011, B4U?s net income was $2.5 million and net assets were $28.7 million. B4U generates the majority of its revenues internationally, predominantly through fees earned from being a part of a cable or satellite service provider?s subscription package, and within India from advertising. Eros said that the company expects B4U to benefit from expanding international coverage and growing television advertising spend in India.

MUMBAI: Dow Jones? Factiva, a global digital business aggregator, has extended its reach in Asia with the launch of Korean-language coverage and the addition of several leading South Korean news publications.

Factiva includes content from Maeil Business Newspaper, The Herald Business and Korea Newswire. Content from JoongAng Ilbo, JoongAng Sunday and Economist, in addition to news and commentary provided through the Dow Jones Korean Language Service, will be progressively added over the coming weeks.

The expanded Korean-language content comes as US and European companies increasingly look to the South Korea market for trade and investment opportunities. The US-South Korea free trade agreement, ratified in 2011, took effect on 15 March.

Factiva?s addition of these widely circulated, influential business and financial news sources greatly extends its search capabilities in South Korea and will complement an existing range of English-language sources already covered from South Korea.

Users will also be able to take advantage of Factiva?s automated translation feature to translate search results into English, or one of more than 50 supported languages, to enhance their understanding of their organisation?s brand or products as covered in influential South Korean media, as well as of their key partners or competitors.

Dow Jones VP of Factiva David Chivers said, "Factiva?s ambitions to expand news and information sourced from South Korea are commensurate with the growing presence of South Korean brands in the U.S. and American brands in South Korea. With the combination of search, alert, snapshot and translation functions within Factiva, our users will be better equipped to identify and respond to opportunities in the South Korea market."

South Korea is one of Asia?s five-largest economies by nominal GDP and a growing source of and destination for foreign direct investment and global trade.