AL JAZEERA ENGLISH (AJE) Indonesian stockmarket Feed
Over the issue of eroding social responsibility and ethics in the new look, new age Indian media the press council of India has raised certain concerns.
The PCI specifically raised concerns on the paid form of news as it was threatening the existence of democracy. It also suggested that the current system of having monopoly rights over media should be thought over again and possible be made extinct.
Reliance Broadcast is reported to have conglomerated with US-based CBS Corp. to undergo an equal joint venture in a bid to launch television channels in India. The preliminary tie-up for the joint venture was signed in June.
“The venture is more about the assets that both companies are bringing to the table”, Tarun Katial, CEO, RBNL told reporters when asked about the financial terms.
Hindustan Media Ventures makes a strong debutOn the initial day of trade on Wednesday, shares of Hindustan Media Ventures went up almost 14% in excess the initial issue price of Rs 166. Hindustan Media Ventures (HMVL) which publishes the Hindi daily Hindustan made a debut on a strong note at Rs 170, up 2.40% on its issue price of Rs 166 on the BSE. The scrip shot up 15.60% to lay hands on an intra-day high of Rs 191.90 on the Bombay Stock Exchange. It at long last finished the day at Rs 189.20, up almost 14%.
Production House, Miramax, will be bought by Construction magnate Ron Tutor and investment firm Colony Capital from its parent company, Walt Disney. Ron Tutor And Colony Capital have reached an agreement in principle to make the acquisition. All three parties involved iin the deal have reached an agreement on all points of legal and practical discourse. Lawyers are presently drafting a formal agreement.
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