MUMBAI: Colors, the Hindi general entertainment channel from the Viacom18 stable, has got the telecast rights of Screen Awards.

The 18th Edition of the Screen Awards, a property of The Express Group, will be aired on Colors in January 2012. One of the highest rated awards property, Screen Awards has been associated with Star Plus for the past 11 years.

Initiated in the year 1994, the Screen Awards were instilled to recognise upcoming talent and professional excellence in Indian Cinema.

Colors CEO Raj Nayak said, "The Screen Awards is one of the most popular and recognized award functions in the Indian film industry?s calendar and we are extremely proud to be associated with it."

The Screen Awards celebrate achievement and excellence in over 30 categories that cover the entire sweep of film-making in Hindi and Marathi.

"The Screen awards set the bar for excellence in Indian cinema because it embodies the fundamental principles of the Express Group: credibility and independence," said The Express Group Editor-in-Chief Shekhar Gupta. "Cinema is bristling with talent; these awards applaud and celebrate this creative upsurge."

The awards follow a two-step screening process that includes a Screen Selection Academy. Its members send their recommendations to a select Screen Jury which is not bound by these.

Previous jury chairpersons include Ramesh Sippy, Amol Palekar, Jeetendra, Asha Parekh, Shatrughan Sinha, Waheeda Rehman among others.

MUMBAI: The Network18 Group has announced elevation of B Saikumar as its Group CEO. Saikumar, 37, replaces Haresh Chawla who recently quit.

In his new role, Saikumar will be responsible for the strategic and operational management of the Network18 Group. He would have direct responsibility of the Group?s News, Web, Publishing, Factual Entertainment and allied businesses which would include the IBN General News Network, CNBC TV18/ Awaaz Business News Network, Web18, Yellow Pages, Forbes India, AETN18 and the niche magazine stable among others.

Saikumar will also shortly be joining the Boards of Viacom18 and HomeShop18. The current CEOs and Management Teams of Viacom18 and HomeShop18 will continue to report to their respective Boards.

The company said that Network18 founder and editor Raghav Bahl is expected to step up engagement with the management teams of Viacom18 and HomeShop18 and Saikumar will be working closely with him on both of these businesses.

Bahl said, ?Haresh has led Network18 with extraordinary distinction in the first phase of our growth and identity. Now, as we gear up for our most ambitious phase yet, I am convinced that Sai (or ?B Saikumar? as the world knows him, formally) has the inclusive skills and mature leadership that are needed to get us there - he has our best wishes and our wholehearted support.?

Prior to this development, Saikumar was serving as Group COO and was responsible for leading management teams across Group companies apart from being a core member of Network18?s Business Strategy Team. Through his decade long stint, he has been responsible for providing ?operational leadership? and enabling ?stellar organic growth across the Group?s market leading brands?, the company said.

He has also played an integral role in the various inorganic forays of the Group across businesses.

Chawla said, ?I am absolutely delighted to handover the mantle to Sai, who has worked very closely with me for over a decade, as we built the Network18 franchise. He has seen the Network grow from its very early days across various businesses, which has given him a width of experience that is tough to find in the media business. He is an accomplished leader and a true people?s person and I have no doubt that he?ll take the legacy forward to even greater heights. I will always be available to him as a friend and mentor and wish him success.?

Saikumar added, ?It?s an honour to lead this world-beating team at Network18. The next phase of growth promises to be exciting and I look forward to it. Building upon the inspiring legacy left behind by Haresh, we have some very ambitious dreams for the future and we intend to see each one of them fulfilled.?

Saikumar will be reporting into Bahl in this new capacity. Prior to joining the Network18 Group in 2000, Saikumar was with the Times of India Group, where he worked with Times Music and Times FM.

MUMBAI: FoodFood chief operating officer Karthik Lakshminarayan has put in his papers after spending nearly one year with the company.

FoodFood is a joint venture between Malaysia-based Astro and Chef Sanjeev Kapoor?s Turmeric Vision. Lakshminarayan had joined the company in December 2010 and was instrumental in launching the food speciality channel.

Prior to that, he has worked with production house Freemantle Media India as head of commercial and business development. Earlier he was part of the team that launched Viacom18?s Hindi general entertainment channel Colors.

Lakshminarayan comes with over 17 years experience in media planning, channel launches and production.

Lakshminarayan was not reachable till the time of filing this report.

MUMBAI: Raghav Bahl-promoted TV18 may offload 10 per cent of its stake in Viacom18 to its joint venture partner, Viacom.

With this, TV18‘s stake in the joint venture will come down to 40 per cent. Viacom18 runs general entertainment channel Colors, youth channel MTV, kids channel Nick and also houses Viacom18 Motion Pictures.

"TV18 may exercise its option to dilute 10 per cent in Viacom18," a source familiar with the development said.

Bahl could not be contacted for his comments till the filing of this report.

TV18 has a put option in Viacom18 exercisable from 1 July 2012. The put option gives TV18 the right to sell 10 per cent of the company to Viacom each year for a period of five years.

TV18 can retain management control till it retains 40 per cent or more in Viacom18.

Viacom18 had posted a net loss of Rs 284 million for the second quarter of the fiscal ended 30 September 2011. Ebitda loss was at Rs 77 million.

For the full fiscal ended 30 March 2011, Viacom18 had posted a net profit of Rs 850 million. The income for the fiscal was at Rs 11.04 billion, while expenses were at Rs 9.85 billion. Ebitda for the fiscal was at Rs 1.20 billion.

TV18 has a net debt of Rs 6.84 billion as of 30 September.

MUMBAI: Viacom18, the joint venture between Viacom and TV18, has posted a net loss of Rs 284 million for the quarter ended 30 September. This is compared to a net profit of Rs 140 million the company had posted in the corresponding quarter of the previous fiscal.

The loss was mainly triggered by a 29.33 per cent jump in the expenses, out of which Viacom18 more than double the spent on marketing and promotions.

Total expenses incurred by Viacom18 were at Rs 3.23 billion, as compared to Rs 2.50 billion in the year ago period. Out of this Rs 1.12 billion were spent on marketing, distribution and promotional expenses, as against Rs 480 million in the year ago. Production expenses remained same at Rs 1.83 billion with rest attributing to staff cost.

Meanwhile, the company saw a 15.85 per cent hike in revenue to Rs 3.15 billion, as against Rs 2.72 billion in the year-ago period. In the first quarter of FY?12, Viacom18 posted revenues of Rs 2.77 billion.

On the operating level, the company?s loss from the quarter stood at Rs 77 million, compared to an operating profit of Rs 220 million. However, from the TV business, the company reported operating profit of Rs 123 million, and the loss is from the film business (The Indian Film Company and Motion Pictures business) to the tune of Rs 200 million.

Viacom18 runs Hindi general entertainment channel Colors, youth entertainment channel MTV, kids channel Nick and English entertainment channel Vh1.

During the current quarter, Viacom18 charged one-time cost towards impairment of film rights amounting to Rs 1.39 billion to reflect the realisable value of the film library held by its subsidiary The Indian Film Company (TIFC). However, this is getting fully indemnified by Network18 Holdings Limited and hence there is no impact on the profit and loss account, the company clarified.