Pentamedia may hive off Num TV into subsidiary

The Chennai-based Pentamedia Graphics Ltd has sought shareholders’ approval for hiving off the company’s Internet broadcasting portal, Num TV, into a subsidiary. It has convened an extra-ordinary general meeting for the purpose on December 15. Num TV targets the non-resident Indian and media streams content from satellite channels and other sources.

Pentamedia officials have been very bullish about the prospects of Num TV. Mr V Chandrasekaran, chief executive officer, Pentamedia Graphics had earlier commented that Num TV would be the major contributor to the company’s revenues in about three years.

Also, the infrastructure of Num TV and Pentamedia is common. Company officials had said that an investment of $14 million had been made in Num TV and they expect the portal to break even in six months. Num TV had gone
commercially recently and has over 5000 paid subscribers.

It may be recalled that Pentamedia had set up an wholly-owned subsidiary, Num Media Inc, in the US recently. Num Media would collect the subscription revenues from the US and a transfer pricing of content delivered by Pentamedia to the Num Media was to be worked out.

The company spokesperson said the initiative to spin off Num TV into a subsidiary was at a very preliminary stage and the approval sought from shareholders was basically an enabling resolution.

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