Hong Kong/Seoul, June 8, 2000 ? Channel [V] and Korea?s DoReMi Media Company Limited are pleased to announce the formalisation of agreements which will result in two joint-ventures in the Korean market. These joint-ventures will facilitate the creation of Channel [V] Korea and vkorea.com respectively.
The venture which will create Channel [V] Korea, an on-air broadcasting property, will incorporate the production of local television programming, distribution of the product and commercial sales. Channel [V] will hold a 33% stake with DoReMi holding a 67% stake.

vkorea.com will be established through a second joint-venture and will be positioned as Korea?s pre-eminent youth portal. Each company will hold a 50% stake.

DoReMi is South Korea‘s largest recording company. It currently boasts a 35 percent market share and owns valuable music rights.

Says Channel [V] Managing Director, Steve Smith, ?With South Korea currently being one of Asia?s most dynamic market places, this is a perfect time to be creating dedicated broadcast and online services. With all its experience in this market, DoReMi is the ideal partner for this venture and we look forward to successfully launching these new products.?

DoReMi Media President Park Nam Sung says, ?Through the formation of Channel [V] Korea, we will create the perfect opportunity to provide high quality music programming for the local market and an avenue to expose Korean music throughout Asia.?

Channel [V] Commercial Director, Jasper Donat adds, ?This is a fabulous opportunity for Channel [V] to expand its existing viewer base in Korea and provide them with an increased volume of quality youth targeted local programming. This will in turn make sense to a wealth of local and regional advertisers looking for exciting integrated opportunities by which to reach the youth of South Korea".

Currently Channel [V] is seen in Korea through its Greater China feed, which already carries three Korea-specific shows. The new service is scheduled for launch in September 2000.

Channel [V] Music Networks Ltd Partnership is a joint venture between STAR TV and EMI Music. It current;y operates 6 services in Asia and Australasia : Channel [V] Greater China, Channel [V] India, Channel [V] Thailand, Channel [V] Australia, Channel [V] Philippines and Channel [V] International. Channel [V] is seen in more than 40 million homes in 53 countries on a 24-hour basis. Syndication brings the channel into another 126 million homes. Channel [V] Greater China reaches 21 million homes in Mainland China and more than 4 million homes in Taiwan on a 24-hour basis. Through syndication on China?s top web of terrestrial TV stations and cable systems, Channel [V] reaches a further 100 million homes every day on the Mainland. Channel [V] India reaches 10 million homes in the Sub-Continent. Channel [V] Thailand reaches 320,000 homes on cable system UBC. Channel [V] Philippines is a joint-venture with GMA and is broadcast on terrestrial UHF Channel 27. Launched in 1997, Channel [V] Australia now has the potential to reach every home in the country. Additional information on all Channel [V] services can be found at www.channelv.com

DoReMi Records was founded in 1989 as a daughter company of ?Jun Production?, the first company in Korea to use the ?production? concept to become a professional management agency. DoReMi Records is now Korea?s leading record company. The company also pioneered the field of ?star? management and has contributed much to Korea?s popular music and television industries. The company has an extensive portfolio which spans everything from record production to CD and tape manufacturing to its original enterprise of artist management.

In 1999, DoReMi?s record sales reached more than 12 million units. It also manages over 80 artists, including numerous million sellers. DoReMi established DoReMi Media Corporation and DoReMi Music Publishing Corporation in 1997. DoReMi Media produces and conducts R&D in the field of high-tech compressed recording and communications related to underground technology. In 1998, the company was the first to market the Digital-Audio-Compact Disc Recordable. The Company is the proprietor of high precision compression technology of DVD and DVD-R/RAM and continues R&D in the field of sound technology and visual media development.

DoReMi Music Publishing is a pioneer in the record copyright industry and conducts businesses aimed at protecting the interests of musicians and songwriters.

Consumer and professional electronics company Philips announced two deals at BroadcastAsia 2000 and CommunicAsia 2000 in Singapore on 6 June. The first relates to the commencement of the supply of set top boxes to Zee Telefilms while the second relates to a news production equipment order placed by software production company and CNBC India co-promoter TV18.

The DSX6071/94 DVB-compliant set top boxes which Philips is supplying to Zee Telefilms are for its direct to operator digital TV channel bouquet project. Zee Telefilms had ordered 25,000 set top boxes but Philips expects this to go up by another 100,000. The boxes are installed with Mediaguard and Mediahighway software supplied by French company Canal Plus Technologies which will allow Zee TV to encrypt its channels, which are currently free to air. Zee TV hopes to charge India‘s 30,000 to 40,000 strong cable operator community a licence fee to retransmit its bouquet of 8-12 television channels. A smart card will be supplied to the cable ops after payment of the licence fees.

Former Star TV India chief Rathikant Basu-promoted Broadcast Worldwide and Sahara TV sign a joint venture deal to launch a Direct to Home / Direct to Operator satellite TV service in India. Sahara DTH will acquire 49 per cent stake in Broadcast Worldwide, according to a press release sent on e-mail by Basu.
This is a story which would have hit page one of any newspaper any day. Unfortunately, Basu denied it. "It is mischievous as somebody is sending out the press release under a fictitious e-mail account. I don‘t even know the Sahara people," he clarified.

The hullabaloo started on June 1 when the chief executives of broadcasting/media companies in India received an e-mail purportedly from Basu, through a hotmail account, inviting them for a party on the occasion of the recent launch of Tara Punjabi on June 2.

Attached with this invitation over e-mail was a press release which announced the Broadcast Worldwide and Sahara TV joint venture. The details were immaculate and in the realms of being a possibility, including Star India‘s Urmilla Gupta quitting to join Basu‘s company, the same way as she had quit Doordarshan to head the DTH division of Star India.

We reproduce here the e-mail from Basu which, he says, is fictitious. Only, the names of the recepients have been deleted to safeguard their identity.

From: Rathikant Basu [mailto:rathikant_basu@hotmail.com]
Sent: Thursday, June 01, 2000 9:49 AM
To:XYZ
Cc:XYZ
Subject: TARA

Rathikant Basu Cordially invites you to be part of the celebrations as Broadcast Worldwide launches TARA - The Punjabi Channel On Friday, June 2, 2000 at The Darbar Hall, Taj Palace, New Delhi, 7 pm onwards.

RSVP - Seema 98112 22578

Attached - Press Release BROADCAST WORLDWIDE

Press Release

BROADCAST WORLDWIDE AND SAHARA TV SIGN JV

Dated 1 June 2000, Mumbai,

Broadcast Worldwide and Sahara TV signed a Joint Venture deal today launch a Direct to Home / Direct to Operator satellite TV service in India.

According to the MOU Sahara DTH will acquire 49 per cent stake in Broadcast Worldwide.

Commenting on the deal, Mr. Rathikant Basu, Chairman and CEO of Broadcast Worldwide said, "This deal is a beginning of a long term partnership with Sahara and will provide a digital platform to several niche channels in the direct to home market".

Mr. Mahesh Prasad, CEO & Advisor, Sahara TV said, "We are impressed by the entrepreneurial skills and broadcast industry experience of Mr. Basu and look forward to an alliance with Broadcast Worldwide in the digital era."

Mrs. Urmilla Gupta, Executive Director Of Star TV DTH will be joining Sahara DTH as Executive Director and CEO from first week of July 2000. Mrs. Shukla Das, has been appointed as Director of Programming at Sahara DTH. Star TV DTH division personnel including Ms. Saloni Singh, Mr.Vishal Chowdhury, Mr.Sanjay Pathak, Ms. Riti Jarg and Mr. Jayant Shah will also be joining Sahara DTH which will be headquarted in Noida near Delhi.

SEEMA - 98112 22578
SAHARA DTH - BROADCAST WORLDWIDE
C4 SECTOR XI NOIDA 201 301
PH 914 550737, 914 542227 .

At first it was Television 18, Cinevista Communications and Sri Adhikari Brothers. Now its the turn of two more television companies to go in for a listing.
This time round, entering the market are CEE (I) TV and Telephoto Entertainment Ltd.

CEE (I) TV is a company which deals with the production and telecasting of TV serials and movies, production and marketing of audio albums, marketing of audio cassettes, and production and distribution of feature films. CEE is mainly target at the South Indian audience and has a library of 1000 hours of television software and 912 feature films for overseas satellite rights. It also has strategic tie-ups with Kelly Broadcasting Systems in the US and B4U South in US, Canada, Europe and Middle East. The company has planned to offer 26.65 lakh shares of Rs 10 each at a premium of Rs 10 with a total IPO of Rs 53.3 million.

Also joining the action is Chennai-based Telephoto Entertainments Ltd. This television content provider has planned an IPO of 27,50,000 equity shares of Rs 10 each at par, aggregating Rs 27.5 million. The issue will open on 19 June and close on 24 June. Telephoto Entertainments has a library of 500 episodes and is currently showing 25 episodes per week in the Sun network.

However, another television software company, Nimbus Communications which was slated to hit the market in June has now decided to put off its IPO and postpone it to a future date. Instead the company has gone in for a private placement of Rs 12.3 billion.