Broadcast Initiatives and STAR India announces alliance for advertising sales

Broadcast Initiatives Ltd has announced that STAR India Pvt Ltd and the Company, a Group Company of the Sri Adhikari Brothers on August 16, 2007 has announced their new alliance for Advertising Sales. The Company operates Hindi News channel, LIVE INDIA. Under the terms of the agreement STAR India Pvt. Ltd will, with immediate effect, take over all Advertising Sales for LIVE INDIA on a global exclusive basis.

Commenting on the announcement, Mr. Paritosh Joshi, President - Advertising Sales & Distribution, STAR India Pvt. Ltd said, ‘This is the first time STAR India has offered its incomparable Advertising Sales capabilities to a channel outside the STAR Network. This is a major milestone for this division. It is our intent to quickly evolve into the region’s top Integrated Broadcast Services organization and this deal underscores the seriousness of this intent".

Mr. Markand Adhikari, Vice Chairman and Managing Director of the Company said, "We are delighted to announce this new association with STAR, India’s largest Television Network and by far the dominant force in the Television Advertising space. This is a critical partnership for us and we consider it a significant asset to securing a strong Advertising Revenue base for our, LIVE INDIA".

The stock closed the day at Rs.57.15, down by Rs.0.40 or 0.70%. The stock hit an intraday high of Rs.60 and low of Rs.56.10. The total traded quantity was 106242 compared to 2 week average of 37974.

Source : Equity Bulls

Keywords