UTV To Raise Rs. 450 Crore For Broadcasting Business; Topline Projection For FY08 At Rs. 400 Crore
By Nikhil Pahwa - Thu 16 Aug 2007 05:47 AM PST
UTV CMD Ronnie Screwvala says in an interview with CNBC-TV18 that the total outlay for their broadcasting business is expected to be around Rs. 600 crore - of which Rs. 150 crores will be invested by UTV, and Rs. 450 crore will be raised from a strategic partner. They’re in talks with three companies and expect to close the investment within 90 days.
Screwvala expects game development and publishing publishing activities in the UK to contribute Rs. 75-100 crore to the company’s topline: Ignition is creating three very high-end games, which will be ported across PS3, PS2, Xbox and others, and The company plans to launch eight more channels (after Bindass) - a Hindi movie channel, a world cinema channel, four channels under the brand Bindass, and three others which they will announce later.
They’ve projected a topline of Rs. 400 crore for the financial year 2007-08, and expect EBITDA margins to quadruple.
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