UTV, Bloomberg tie up to re-brand UTVi as Bloomberg-UTV

UTV Software Communications Limited (UTV), the leading media and entertainment company based in India, has said that it will enter into a strategic alliance with Bloomberg for content-sourcing as well as for re-branding its business channel UTVi as Bloomberg-UTV. In a filing to the Bombay Stock Exchange, UTV Software Communications said that both companies will collaborate on the new television channel in September 2009.

Apart from this, the website UTVi.com is to be re-branded as bloombergutv.com

In a press release, UTV Software Communications Limited said it is India’s leading global integrated media house with business interests in television, broadcasting, games, movies, and new media. UTV India and its subsidiaries, according to the company, create, aggregate and disseminate content of various genres across varied distribution platforms.

The addition of 14-15 million television sets in India every year will “drive viewership of business news in the country,” according to Ronnie Screwvala, chairman of UTV News.

The co-branded television channel will “deliver unsurpassed real-time business, economic and political news to households across India,” UTV Software Communications said in the press release, adding that the new business channel will become “the premier outlet for broadcasting business and financial news.”

UTVi, the English-language business news channel promoted by UTV Software Communications Limited, was launched in 2008.

Andy Lack, chief executive of Bloomberg Multimedia group, said in a statement that Bloomberg, by working with UTV, is trying “to realise the shared vision of the two firms for business and financial television.”

According to the planned deal between Bloomberg and UTV Software Communications, Bloomberg, reportedly, will get a 10% stake in UTV News Limited; the business channel UTVi will get Bloomberg’s content and also will become a co-branded channel named Bloomberg-UTV.

In addition, Bloomberg will get a licence fee, but the payments will be staggered over a period of many years and Bloomberg has sought a share of the UTVi channel’s revenues.

UTVi, launched in 2008, is said to be at the bottom of the ratings list for business-news television channels, behind such channels as NDTV and CNBC TV18. Though UTVi channel has a content tie-up with ABC News, UTVi has virtually stopped using the ABC News content.

In the statement, UTV Software Communications said that, for the first time, the local newsgathering, distribution and production expertise of UTVi will be combined with the “deep financial-news capabilities and global reach of Bloomberg in order to broadcast news and information for and about the Indian market.”

Television viewers in India will have access to Bloomberg Television network’s global feed, supported by 145 Bloomberg news bureaus worldwide.

Bloomberg-UTV, the UTV Software Communications elaborated, will incorporate extensive international programming elements from Bloomberg Television’s worldwide network and the editorial and production teams of both organisations will cooperate closely.