‘UTV Action’, a new action movie channel will be on air from January 2010. It will replace UTV’s ‘Bindass Movies’ channel which airs movies dubbed into Hindi
UTV Global Broadcasting is launching a new channel ‘UTV Action’, which will showcase fast-paced and high-octane Hollywood movies, dubbed in Hindi, besides some of the latest action movies from Bollywood. However, according to industry sources, this move may be just the renaming of an erstwhile channel, as the company is winding up its channel ‘Bindass Movies’, which airs the same content as that of ‘UTV Action’.
“With the movie business getting bigger and with the market maturing, the generic movie platform will have to pave the way for specialty movie offerings. The best opportunity and prospects in such a scenario lies within the action genre. We are hoping to receive great response from our audience. The channel has already roped in advertisers that include Hindustan Unilever, Asian Paints, TVS Tyres, HCL Computers, Hero Honda, Castrol, Bajaj, Airtel, Perfetti and Marico,” said MK Anand, chief executive, UTV Global Broadcasting, in a release.
UTV’s ‘Bindass Movies’ channel has a viewership of 4.3 over the past four weeks which is far better than Zee Action (1.5 over the past four weeks), an action movie channel. “The action channel is always for a niche market and I think they will adopt the pay mode for this channel. You can command some pricing for it rather than going free-to-air. They will try to earn approximately Rs10 crore-Rs12 crore annual subscription from such types of channels,” said Sheetal Malpani, media analyst, Brics Securities Ltd.
In January 2010, ‘UTV Action’ will be broadcasting 15 blockbuster titles like ‘Crouching Tiger Hidden Dragon’, ‘Men in Black’, ‘Black Hawk Down’, ‘End of Days’, ‘Bad Boys-II’, ‘Grudge’, ‘Vertical Limit’ and ‘Ab Tak Chappan’.
S&P has revised its rating outlook on Ballarpur Industries to ‘stable’ on the back of its operating performance, which is expected to continuously improve, according to the rating agency
Ratings agency Standard & Poor's (S&P) has said that it has revised its rating outlook on India's printing and writing paper manufacturer Ballarpur Industries Ltd (BIL) to ‘stable’ from ‘negative’ reflecting the company’s improved performance and stability in operations.
"The stable outlook reflects our expectation that BIL's cash flow measures will improve, supported by continued stable demand in the domestic paper market and better operating environment at its overseas operations," said S&P’s credit analyst Yasmin Wirjawan.
The ratings agency said it expects BIL's operating performance to continue to improve because of the company's cost efficiency measures and the stabilisation of its pulp operations at Sabah Forest Industries Sdn Bhd (SFI).
BIL acquired Malaysia's largest paper manufacturer SFI for $261 million in March 2007.
"We expect Ballarpur to complete its paper capacity expansion in 2010, which, in our view, will improve the company's economies of scale and strengthen its cash flows over the medium term," Ms Wirjawan said.
Domestic demand for paper products continues to be strong, and the company's pulp operations have stabilised after a weak performance. SFI's pulp operations have also stabilised over the past two quarters. The demand for paper products has improved in both the domestic and export markets since mid-2009. S&P said it expect the company's capacity utilisation to be high (at about 85%) in the next few quarters, and its proportion of domestic sales, which have higher margins than exports, to remain above 90%.
BIL has completed its paper capacity expansion in India. “We expect the company's profitability and cash flows to improve because of higher capacity and a better product mix. We expect Ballarpur's debt-to-EBITDA ratio, which was above 5x as at 30 June 2009, to improve to about 4x in the near term, supported by rising profit margins and higher production,” the ratings agency added.
Steve Jobs was paid his customary $1 annual salary in 2009 by Apple, the makers of iPhone, iPod and Mac computers. But his stake in the company is valued at $1.10 billion
Apple Inc chief executive officer (CEO) Steve Jobs was paid his customary $1 annual salary in 2009, but Apple's strength through a rough economic climate returned the value of his personal holdings in the company to pre-meltdown levels.
Mr Jobs does not get a bonus or reimbursement for perks many other CEOs accept, such as personal security, according to a regulatory filing made yesterday. Apple said it reimbursed Jobs $4,000 for company travel on his $90-million Gulfstream V jet, which he received as a bonus in 1999.
That's far less than the $871,000 Apple reimbursed Mr Jobs in 2008. The CEO took nearly six months off in 2009 for medical leave, during which he received a liver transplant. He returned to work at the company's Cupertino, California, headquarters part-time at the end of June.
Mr Jobs, 54, holds 5.5 million shares of Apple's stock. He has not sold any shares since he rejoined the company in 1997, nor has he been awarded any new equity since 2003.
In 2008, the value of Jobs' stake in the company he founded, was cut in half as investors worried that Apple's pricey gadgets might not fare well through the US recession. But shares of the maker of iPods, iPhones and Mac computers gained about 42% during the 2009 fiscal year that ended in September and at the close of trading yesterday, when Apple's stock reached $202.10, Mr Jobs' holdings were worth about $1.10 billion.