MUMBAI: TV18 Broadcast is snapping up Ramoji Rao-owned Eenadu TV to expand its regional broadcasting presence that is confined to Marathi news at this stage.

A formal announcement is expected soon, according to sources familiar with the development.

ETV?s talks with Sony proved inconclusive. Sources confirmed that Sony pulled out of the deal as the global major found the valuation too high. Sony was involved in an all-cash deal but did not agree on the valuation of Rs 25 billion for the regional entertainment channels (news was out of the ambit).

The acquisition of ETV Network (TV business) will give TV18 Broadcast a quick presence across all important regional markets of India, barring Tamil Nadu and Kerala.

"This ensures that TV18 does not have to launch green-field operations and fragment the market further. TV18 will be able to effectively compete with its 3 biggest rivals - Star, Sun and Zee - across various markets as ETV‘s portfolio is fairly good in terms of ratings. This could also help in driving carriage charge synergies as TV18 will now become a much larger bouquet. Content can obviously be leveraged across languages," a media analyst at a local broking firm said on condition of anonymity.

The acquisition will be partly funded through a rights issue. As the enterprise valuation of ETV is expected to be above Rs 20 billion, the market is predicting a part-cash, part stock deal.

ETV?s annual revenue is around Rs 5 billion. "Some speculators are saying that the valuation is around Rs 25 billion. That is about five times the revenue of ETV and seems too high. This may mean a part-cash deal," the analyst said.

TV18 has a market cap of Rs 10.31 billion.

A deal with ETV will possibly spoil Network18?s joint venture with Sun Group for channel distribution. But if it goes unscathed (just as the Zee-Star distribution deal), the bouquet will become formidable.

TV18 Broadcast runs four news channels (CNBC TV18, CNBC Awaaz, CNN-IBN, IBN 7) and has a 50 per cent stake in Viacom18 (which runs Hindi GEC Colors and channels such as MTV, VH1, Nick and Sonic) and owns 50 per cent in IBN Lokmat (Marathi news channels). Network18 also has interests in Internet, print (magazines) and home shopping.

ETV Network has the largest coverage of India in terms of regional channel portfolio with presence across South India to UP. It runs 12 channels and all its channels carry news content (for at least ? an hour) along with entertainment content depending on geography.

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MUMBAI: The latest offering from Viacom18, Sonic, will be launched on 20 December. Bollywood actor Akshay Kumar, who is known for his daredevil action sequences in the movies, is the brand ambassador for the channel.

The channel goes with the tag line ?Thrills.Guts.Glory? and offers action, adventure and animation for its target audience, the young adults between the age group of 13-18 years.

Apart from major cable operators, the channel will be also be available on Airtel Digital TV, initially and gradually will be distributed via other direct-to-home operators. Sonic aims to reach 40 million households across the country.

Sonic and Nick India EVP and GM Nina Elavia Jaipuria said, "In India, animation is still looked upon as cartoons and hence childish while the world over, it has been soaring different heights. With Sonic, we hope to break that clich?."

Talking about the choice of the brand ambassador, Jaipuria said, "Action is in Akshay?s blood and DNA. He brings alive action and thrill for the action loving generation."

Kumar added, "I love action and I feel that Sonic is a channel that will bring action and adventure to the audiences very effectively. I immediately said yes to the offer when I heard the concept."

As part of the launch campaign the channel has undertaken multimedia initiatives on a large scale. While the network?s channels are airing TVC?s introducing Sonic, efforts have also been taken in the print, outdoor, digital, mobile and on ground media.

A dedicated website has been launched to engage the audiences. Users can access games, mobile interactivity and get updates on Facebook and Twitter.

The programming line up has animated shows like Shaktimaan, Kung Fu Panda - The Legend of Awesomeness, Jackie Chan Fantasia, Mighty Morphin Power Rangers, Power Rangers S.P.D., Kung Fu Cat, Kong and Supastrikas. The Sonic Flix block will showcase action packed movies while Sonic Extreme will have shows like The Adrenaline Project and Are You Afraid of the Dark?

"The USP of the channel is the fact that it offers action across different genres from Kung Fu Panda to Are You Afraid of the Dark? Also, it is my belief that the superheroes are the trump cards for the channel," Jaipuria added.

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MUMBAI: Colors, the Hindi general entertainment channel from the Viacom18 stable, has got the telecast rights of Screen Awards.

The 18th Edition of the Screen Awards, a property of The Express Group, will be aired on Colors in January 2012. One of the highest rated awards property, Screen Awards has been associated with Star Plus for the past 11 years.

Initiated in the year 1994, the Screen Awards were instilled to recognise upcoming talent and professional excellence in Indian Cinema.

Colors CEO Raj Nayak said, "The Screen Awards is one of the most popular and recognized award functions in the Indian film industry?s calendar and we are extremely proud to be associated with it."

The Screen Awards celebrate achievement and excellence in over 30 categories that cover the entire sweep of film-making in Hindi and Marathi.

"The Screen awards set the bar for excellence in Indian cinema because it embodies the fundamental principles of the Express Group: credibility and independence," said The Express Group Editor-in-Chief Shekhar Gupta. "Cinema is bristling with talent; these awards applaud and celebrate this creative upsurge."

The awards follow a two-step screening process that includes a Screen Selection Academy. Its members send their recommendations to a select Screen Jury which is not bound by these.

Previous jury chairpersons include Ramesh Sippy, Amol Palekar, Jeetendra, Asha Parekh, Shatrughan Sinha, Waheeda Rehman among others.

MUMBAI: The Network18 Group has announced elevation of B Saikumar as its Group CEO. Saikumar, 37, replaces Haresh Chawla who recently quit.

In his new role, Saikumar will be responsible for the strategic and operational management of the Network18 Group. He would have direct responsibility of the Group?s News, Web, Publishing, Factual Entertainment and allied businesses which would include the IBN General News Network, CNBC TV18/ Awaaz Business News Network, Web18, Yellow Pages, Forbes India, AETN18 and the niche magazine stable among others.

Saikumar will also shortly be joining the Boards of Viacom18 and HomeShop18. The current CEOs and Management Teams of Viacom18 and HomeShop18 will continue to report to their respective Boards.

The company said that Network18 founder and editor Raghav Bahl is expected to step up engagement with the management teams of Viacom18 and HomeShop18 and Saikumar will be working closely with him on both of these businesses.

Bahl said, ?Haresh has led Network18 with extraordinary distinction in the first phase of our growth and identity. Now, as we gear up for our most ambitious phase yet, I am convinced that Sai (or ?B Saikumar? as the world knows him, formally) has the inclusive skills and mature leadership that are needed to get us there - he has our best wishes and our wholehearted support.?

Prior to this development, Saikumar was serving as Group COO and was responsible for leading management teams across Group companies apart from being a core member of Network18?s Business Strategy Team. Through his decade long stint, he has been responsible for providing ?operational leadership? and enabling ?stellar organic growth across the Group?s market leading brands?, the company said.

He has also played an integral role in the various inorganic forays of the Group across businesses.

Chawla said, ?I am absolutely delighted to handover the mantle to Sai, who has worked very closely with me for over a decade, as we built the Network18 franchise. He has seen the Network grow from its very early days across various businesses, which has given him a width of experience that is tough to find in the media business. He is an accomplished leader and a true people?s person and I have no doubt that he?ll take the legacy forward to even greater heights. I will always be available to him as a friend and mentor and wish him success.?

Saikumar added, ?It?s an honour to lead this world-beating team at Network18. The next phase of growth promises to be exciting and I look forward to it. Building upon the inspiring legacy left behind by Haresh, we have some very ambitious dreams for the future and we intend to see each one of them fulfilled.?

Saikumar will be reporting into Bahl in this new capacity. Prior to joining the Network18 Group in 2000, Saikumar was with the Times of India Group, where he worked with Times Music and Times FM.

MUMBAI: FoodFood chief operating officer Karthik Lakshminarayan has put in his papers after spending nearly one year with the company.

FoodFood is a joint venture between Malaysia-based Astro and Chef Sanjeev Kapoor?s Turmeric Vision. Lakshminarayan had joined the company in December 2010 and was instrumental in launching the food speciality channel.

Prior to that, he has worked with production house Freemantle Media India as head of commercial and business development. Earlier he was part of the team that launched Viacom18?s Hindi general entertainment channel Colors.

Lakshminarayan comes with over 17 years experience in media planning, channel launches and production.

Lakshminarayan was not reachable till the time of filing this report.