- Viacom has formalized its joint venture with Network 18 - Viacom 18 Media Pvt Ltd. The 50:50 joint venture will receive around $90.5 million in investment from Network18 over the next three years, which will be through Network18 group company Global Broadcasting News ($40 Million), and wholly owned subsidiary BK Holdings Mauritius ($50.5 million). GBN has acquired warrants convertible into equity shares of Viacom 18, and has the option to acquire the entire shareholding from BK Holding Mauritius.
- Six long-distance telephony operators, including Sify, Rail Tel Corporation, Power Grid Corporation, Tulip IT, HCL Infinet and Dishnet Wireless, have deposited outstanding payment as access deficit charges (ADC) to Bharat Sanchar Nigam Ltd following orders from the telecom regulator.
- The acquisition of leading animation company Anirights Infomedia - Reliance Entertainment has decided to focus on regional language films for film production.
- Shemaroo Entertainment Pvt Ltd, one of India's largest aggregators of movies for broadcast, has entered into a 10-movie deal with Zee TV worth Rs 260 million ($6.6 million) for satellite broadcast. Zee TV will telecast these movies on its satellite channel over a period of five years from 2008.
