Transcript ｽﾗｲﾄﾞ ﾀｲﾄﾙなし

Group Executive Committee Application Form
Agenda Item:
- Approval request to propose to board of directors meeting
- Advance deliberation of matters requiring CEO’s approval
- Management direction request
- Reporting
(circle appropriate item)
Officer in Charge:
Sir Howard Stringer
Manager in Charge: Name: Michael Lynton
Department: SPE
1. Proposed Matter to be Deliberated:
SPE requests an indication of support to continue negotiating a transaction with Reliance Industries and
Ramoji Rao to purchase 100% of a controlling stake in Eenadu Television Private Limited and Prism TV
Private Limited (“ETV”).
2. Purpose, Background, Future Plan etc:
TV Networks are a key contributor to SPE’s overall profitability and growth, driven in large part by the
success of Indian networks. SPE seeks to expand beyond its focus on Northern Indian Hindi and English
language channels to regional language channels in Southern India.
Expanding into regional language channels would:
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Give SPE’s networks a national footprint and improve competitive positioning
Capitalize on the growth in ad revenues for regional language channels in Southern India, which
is are outpacing the growth of Hindi language channels
Enable the Sony brand to better connect with 40% of the Indian population
The current ETV owners are willing to sell a controlling interest in ETV, at a $755MM enterprise value,
which SPE believes is an acceptable maximum transaction value.
A minority shareholder in SPE’s existing Indian networks business (MSM India) also desires an exit and
either SPE or a private equity firm can purchase the stake.
SPE’s purchase of ETV and the MSM India minorities are both important objectives. They are not contingent
upon each other unless private equity participates in both acquisitions
3. Due Review Process Prior to GEC:
Opportunity was previewed at the June 2, 2011 SPE Board Meeting.
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【提出先】 GEC事務局・CEO室 E-mail :[email protected] Tel : 9-308-2750
Date of the Meeting: July 26, 2011
Presenter: Michael Lynton and Andy Kaplan
Attendants:
David Hendler, CFO, SPE
Leah Weil, General Counsel, SPE
John Fukunaga, EVP, SPE Legal
Steve Mosko, President, SPT
Andy Kaplan, President, SPT Networks
Man Jit Singh, CEO, MSM India
Jim Underwood, EVP, Corporate Development
Drew Shearer, EVP, SPT Finance
Approximate time required: 30 Minutes
Contact Person：Drew Shearer
Department: Finance
Tel: +13102448964
E-mail: [email protected]
Note: Please provide a concise summary in one page. Avoid using abbreviations.
Submit to: GEC Secretariat/CEO Office
email :[email protected]
Tel : +81-3-6748-2750