Home Tv, Nimbus In Talks Over Fare Restructuring

New Delhi-based TV India Ltd, which manages the affairs of Home TV channel in India, is understood to be negotiating with the Mumbai-based Nimbus Communications, a TV software organisation, to help it out with restructuring the existing programming content.

However, Home TV yesterday denied that it had appointed Nimbus' managing director, Harish Thawani, as the chief executive of the satellite channel company. "I have not been made the CEO of Home TV, nor has any body approached me for the top job," Nimbus' Thawani said. Pradip Chanda resigned from the post of CEO last month amidst rumours of financial losses just a week before the channel was to celebrate its first birthday.

 

Still, Thawani admitted that Nimbus and Home TV have held informal talks on ways to restructure the programming content on the satellite channel to be more market friendly and savvy. "But nothing has been finalised yet," Thawani added.

UK-based Pearson plc's Catherine Mackay, who is a whole time director of Home TV, also denied that her company is divesting its 15% stake in Home TV. "We are seeking new management but nothing has been agreed upon. Furthermore, all the shareholders in the venture remain 100 per cent committed to the success of Home TV," she added.

Home TV , however, was silent on the fact whether one of its Indian promoters, K K. Birla-owned The Hindustan Times, too, has decided to dilute its stake to 20% from the existing 30%--- a move, which media analysts feel, is logical, as it would help Home TV skirt the prospect cross-media restrictions of 20% in the broadcast bill.

TV India Ltd is a venture between The Hindustan Times, UK-based Pearson plc and Carlton Communications, Hong Kong-based TVB and a merchant banker. In the JV company registered in India HT is the individual single largest equity stake holder with 30%, while the merchant banker holds 25% stake. Carlton, Pearson and TVB hold 15% each.

Meanwhile, cable and satellite TV industry sources in Mumbai indicated that instead of becoming the CEO of Home TV and picking up about 30% stake in Home TV, including Pearson's 15% and 10% of The Hindustan Times' stakes, Nimbus would be better off by getting the rights to market the channel

"In the process Thawani and Nimbus can invest in air time inventory in Home TV like Nimbus does in Doordarshan," the sources explained. When Home TV started broadcasting via PAS-4 on May 20, 1996, it had positioned itself as a `mazedaar' channel appealing to every member in the family.

with programmes minus the scantily clad Madonnas, late night English movies with explicit sex scenes and Karishma Kapoor's `sarkaye leyo khatiya' routine. But its programmes had failed to enthuse very many viewers and advertisers.

In the recent past TVIL had been on a major cost-cutting measure as part of which many employees, especially those associated with software production, were asked to leave in Mumbai and Delhi leaving many of the employees disenchanted--- some of whom are contemplating moving the court.

Home TV's director( programming), Karan Thapar, too had resigned last month. Contacted then by Business Standard, Karan Thapar had said, "The company and the channel wants to reposition itself and it would be a different company from what I joined... so I quit."