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UTV chnls/content looking for investors?
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Quote:<img style="float:left; margin: 0px 10px 0px 0px ;" src="http://www.rapidtvnews.com/images/stories/utv.jpg"/>Indian media group UTV’s founder Ronnie Screwvala is reportedly considering taking the television production and broadcasting units of the company to an initial public offering. An IPO would raise funds for the future growth of the business, which UTV said is “no longer in investment mode”. A market update from the company said that “all further investments will be directed towards building library and catalogue of Hindi, Hollywood & World Movie titles for multiple years.”

UTV holds multiple year rights for approximately 1,000 movies.

The Broadcasting and Television Content units of UTV, currently separate, will be reported as one segment from the current quarter. UTV owns and operates four channels – youth channel Bindass, Hollywood channel UTV Action, UTV World Movies and UTV Movies.

Revenues for the four channels will double during the company’s current financial year (to end-March 2011), UTV forecasts. In the year to end-March 2010, the broadcasting segment announced revenues of Rs1.5 billion. And its TV content business, the company confidently predicts, will see a 60% increase in revenues from Rs1 billion.

Overall, said UTV, on a combined EBITDA bsis, broadcasting will remain negative for the first and second quarters but break even and become profitable during the third and fourth quarter.
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