Aaj Taak News Channel

l Aajtak news is the leading news channel and the #1 rated 24-hour Hindi-language news channel in India. Aajtak is the fastest news channel provides information from all over India. Aajtak is the winner of many awards of News filed. Aaj Tak has earned the tag line “Nation’s Best News Channel” due to its aggressive journalism and cutting edge reporting. It has a reach of more than 45 million viewers in India. This is the only channel that connects you to the whole world not after the event happens, but on the time of incidents happen, so this is the only channel that lives you and connects you to the whole world.

Not only the news, has this also entertained the public by showing varities of show. This is the only channel of India that remains Indians connected not only with the news but also with some other knowledgeable things and with the entertainment world also. Aaj Tak is the world class broad caster of News that provides not only the Indians but also the foreigners its services by warming up the people through its hot and live news. Aaj Tak gives information to public about each and every field i. e. News regarding each and every field. Therefore Aaj Tak is the perfect and Up to date News Channel.

Aaj Tak’s wide array of news programming includes daily news bulletins on “Aaj Subaha” and “10tak,” politics, sports, business, entertainment, international coverage and much more. Aaj Tak delivers the latest news in a viewer friendly language – as and when it happens. Besides the unrivalled bulletin coverage, Aaj Tak has also pioneered feature-based programming within the news genre with leading shows such as Seedhi Baat, Cinema, Khel and Jurm. It reaches to people in remote villages too, where this channel is hugely popular because of the channel`s India centric programmin * BOARD OF DIRECTOR’S

Aroon Purie: Chairman and Managing Director, is the Founding Editor and Editor-in-Chief of India Today and Chairman of the India Today Group. He is a graduate from the London School of Economics with a degree in Economics and is a Fellow of the Institute of Chartered Accountants (England & Wales). Mr. Purie: Has greatly contributed to journalism in India. He entered the publishing business and founded the India Today Group. Rakesh Kumar Malhotra Is a commerce graduate from Hansraj College, Delhi University. He has about 28 years of experience in Business and Industry. Mr.

Malhotra is the Chairman of the Audit Committee and Remuneration Committee. Anil Vig Is the Managing Director of Anika International Private Limited, a company engaged in imports and exports, and of Ebony Fashions Private Limited, one of the largest textile manufacturers in India. He is also a partner in Aristo Chemical & Analytical Works. He has completed his Bachelors of Arts in Commerce from the Delhi University and later studied at the Paper School in Finland. Anil Mehra: is proprietor of Anil Mehra & Company, Chartered Accountants and is a partner of Mehra, Singh & Vishwanath, Chartered Accountants.

He completed his Bachelors in Commerce from the Delhi University and obtained professional accreditation as a Fellow Chartered Account from the Institute of Chartered Accountants (England & Wales) and the Institute of Chartered Accountants of India. Mr. Mehra has over 30 years of audit experience in statutory audit, internal audit, management audit, and in special investigative audits of private and public companies. He also has experience in advising companies on financial manageme Rajeev Thakore Completed his Bachelor of Arts in Economics from St. Stephens College,

New Delhi, MBA from University of Saskatchewan, Canada and Pre Business Program from Kent State University, Kent, Ohio, USA. He has about 20 years of experience in banking and financial services sectors. At present, Mr. Rajeev Thakore is the Managing Director of Jacob Ballas Capital India Pvt. Limited and Jacob Ballas Information Technologies India Pvt. Limited. Ashok Kapur Is a Bachelor of Architecture. Being an Industrialist with vast experience in diversified field, he holds position of Director in many well known Public and Private Limited Companies.

Ms. Koel Purie Rinchet: Has Graduated in the field of Acting from Royal Academy of Dramatic Arts (RADA) and Graduated in Politics, Philosophy and Economics (PPE) from University of York. Ms. Rinchet holds 15 years of experience in the field of films and dramatic arts, as an actor, producer, assistant director, host and anchor etc. She is well known in the television and film industry in India. Her achievements and experience during the last 15 years in films, dramatic arts provide a vital insight to the entertainment industry. History and major events

The key milestones of our business are as under: TV Today Network Limited (TVTN) was incorporated on December 28, 1999 as a company with a limited liability under the Companies Act, 1956. TVTN received the certificate of commencement of business on February 7, 2000. TVTN is promoted by Living Media India Limited (LMIL), its holding company. LMIL had been conducting News Broadcasting business through one of its divisions, “TV Today Division” since 1994. TV Today Division has been transferred to TVTN as a going concern by Business Transfer Agreement executed between LMIL and TVTN.

Presently, TVTN runs four 24 hours News & Current Affairs channels, namely Aaj Tak, Dilli Aaj Tak and Tez in Hindi and Headlines Today in English. CALENDAR YEAR| EVENTS| | | 1988| Launched Newstrack, a 90 minute monthly video cassette covering the news of India and the Asian sub-continent. | | | 1994| Produced Style Today, a weekly half-hour fashion magazine. | | | 1995| Produced a 20-minute Hindi news bulletin, Aaj Tak, aired on the Metro channel of Doordarshan. | | | 1996| Launched Good Morning Today and Sapthahik Aaj Tak. Aired special election programs such as Aap Ki Sarkar. | | 1997| Launched Business Aaj Tak and aired the proceedings of the Union Budget 1997 in Parliament and also aired its analysis. Newstrack transformed into a weekly television programme aired on the Metro channel of Doordarshan. | | | 1998| Newstrack was telecast on Star TV for one year. Launched Subah Aaj Tak, Dilli Aaj Tak, Gaon Aaj Tak, Aaj Ki Naari and Aaj Ka Agenda. Also aired Election Results 1998, Aap Ka Faisla, Economic Survey, Curtain Raiser to the Budget, and Assembly Elections. | | | 1999| TV Today Network Limited Incorporated. | | | 000| Living Media, transferred news broadcasting business to TV Today, in accordance with the terms and conditions of the Business Transfer Agreement. Aaj Tak launched as a 24-hour news channel providing Hindi news. | | | 2001| Aaj Tak declared the Best News Channel by Indian Television Academy Awards in 2001. | | | 2002| Aaj Tak declared the Best News Channel by Indian Television Academy Awards in 2002. | 2003| Launched the English news channel, Headlines Today. Aaj Tak declared the Best News Channel by Indian Television Academy Awards in 2003 and TV News Channel of the Year Award by Indian Telly Awards 2003. |

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??????????? ??? ????? ?? ??? ??? ??. ????????? ??????? :?????? ?? ?????? ??? 10 ???. ???? ??? ???? ??? ????? ?? ????????? ?? ????????? ?? ?????? ????????? ??. ?? ????????? ?? ???? ?????? ???? ?? ??????? ?????? ?? ???? ?????? ???????? ?????? ?? ??? ??????????? ??? ?? ????? ?? ??? ??? ???????? ???? ??. ???? ??? ? ???? ?? ??? ??? ?? ????????? ?? , ????? ?? ??? ?????? ?????? ? ??????? ??????????? ??? ???? ??????? ???? ??. ?? ????????? ?????? ?????? ?????? ??? ???? ?? ??? ????? ??? ?? , ?? ???? ?? ??? ?? ?? ?? ??????? ?? ???? ??? ??. ?????? 10 ??? ?????? ?? ??? ??? ???? ?? ????????? ????????? ??. ?? ?? ??? ?? ?? , ?????? ?? ???? ???? ??? ?? ???? ?? ????? ??????? ?? ????? ?? ??? ??? ???????? ???? ???? ??. ?? ????????? ???? ????? ?? ???? ????? ?? ?????? ?? ??????? ?????? ?? ?????? ????? ??. ?? ????????? ?? ???? ??? ??? ?? ?? ?? ????? ??? ?????? ?? ????????? ?? ?????? ???????? ????? ?? ???? ???? ?? ???? ???. ?? ????????? ??? ??????? ?? ???? ?????? ?? ?????? ??? ??????? ?? ?????????? ??? ???? ???? ?.????????? ??????? : ?????? ??? 10 ???. ??? ?????? ??? -?????? ????????? ????? ?? ?????? ?????? ??????? ??. ?? ?? ????? ????????? ?? , ?????? ?? ??????? ?? ????? ?? ????? ????? ?? ??????? ???? ??. ?? ????????? ?? ????? ???????? ???? ??????? ?? ????????? ????????? ??? ?? ??? ?????? ?? ???? ????? ??. ?? ????????? ??? ????????? ???????? ?? ????? ???????? ?? ??????? ?? ????????? ?????? ??? ???? ??? ?? ??? ??? ?????? ?? ???????? ????????? ???? ???? ??. ????????? ??????? : ?????? ?? ???????? ??? 7 ???. OUR BUSINESS We are the leading news broadcaster of India, based on number of viewers for the week ended November 15, 2003.

We have changed the way news is delivered to Indian audiences and have continuously innovated to retain and increase our viewership. With viewership of approximately 22. 7 million viewers, as per TAM viewership data for week ended November 15, 2003, we have effectively created a unique platform of a large and loyal audience for the advertisers to reach their target group. We believe that our leadership position is on account of our superior understanding of the audience preferences based on our management’s experience in the news business, since the launch of Newstrack, in 1988.

The key milestones achieved since 1988 have been elaborated in the section “Our History” on page 43 of the Prospectus. Our consistent leadership position, we believe, in terms of number of viewers for the period May 2001 to November 15, 2003, is due to our editorial excellence, independent distribution and sales capabilities, customized state-of-the-art technology and a motivated team of well-qualified professionals. We are the first Indian broadcaster to uplink from India, a 24 hour Hindi news channel, Aaj Tak in December 2000, followed by the launch of Headlines Today in March 2003. Aaj Tak delivers news in Hindi, reaching out to the large Hindi user segment constituting approximately 52% of India’s urban population as per NRS 2002. The Indian Television Academy awarded Aaj Tak the “Best News Channel” for three consecutive years 2001, 2002 and 2003 and the channel was awarded the “TV News Channel of the Year” during Indian Telly Awards 2002 and 2003. Aaj Tak is the market leader in the news broadcasting genre with approximately 29% market share in the Hindi news genre as per TAM viewership data for week ending November 15, 2003, and has been the market leader since May 2001, as per TAM

VIEWERSHIP DATA. l Our English news channel, Headlines Today, primarily targets young urban viewers, who need sharp and crisp delivery of news. Our market share was approximately 9% amongst English news channels, according to TAM viewership data for the week ending November 15, 2003 We intend to maintain our leadership position by investing in infrastructure, technology and people to cater to the fast growing needs of viewers and advertisers.

We will consolidate our market leadership by capitalising on the growth opportunities that we believe exist, in the Indian broadcasting industry such as niche channels, adopting the subscription revenue model, and international distribution of our channels. For the financial year 2003 and the four month period ended July 31, 2003, our operating revenues were approximately Rs. 1084. 9 million and Rs. 367. 9 million, respectively, EBITDA was approximately Rs. 543. 6 million and Rs. 172. 8 million, respectively, and our net profit was approximately Rs. 259. 3 million and Rs. 82. million, respectively. AWARDS AND RECOGNITIONS Our strong position in the Indian news broadcasting market has won us various awards and recognitions, including: l Aaj Tak received the “Best News Channel Award” from Indian Television Academy Awards in 2001, 2002 and 2003; l Aaj Tak was awarded the “TV News Channel of the Year” during Indian Telly Awards 2002 and 2003; l Only media brand to be included in the Brand Derby study by Business Standard, 2002; l Aaj Tak was rated as “India’s #1 News Channel in terms of brand recall, credibility and lead time” in June 2003 by Exchange4media. om – NFO MBL television News Watch; and l Aaj Tak has been rated as one of the most successful brand launches during the past seven years, in the Brand Derby in the study conducted by Business Standard, September 2003. BUSINESS STRATEGY We believe that we are well positioned to expand in the fast growing news broadcasting industry which is well positioned to achieve further growth as a result of increasing penetration, viewer preference to continuously stay informed and the growing number of advertisers in the news broadcasting genre.

Our strategic objective is to further consolidate our leadership position in the news Increase viewership by upgrading our studios and bureaus, investing in state-of-the-art technology and software, creatively innovate to differentiate ourselves from competition to increase viewer loyalty, launching niche channels and distributing our news channels to Indians abroad; Capture an increasing share of advertising revenue potential by introducing innovations and incentives in our annual rate card, focus on offering sponsorships of our programs, offering differentiated programming mix at the weekends and expanding time bands and increasing inventory utilization; l Significantly increase the inventory utilization on Headlines Today; l Charge subscription revenue, when appropriate; and l Managing growth while optimizing cost