EARNINGS RELEASE FOR THE FIRST QUARTER

EARNINGS RELEASE FOR THE FIRST QUARTER
ENDED JUNE 30, 2012
CONSOLIDATED OPERATING REVENUES OF INR 688.8 MILLION, A YOY GROWTH OF 8.2%
EBITDA OF INR 53.4 MILLION AND NET PORFIT BEFORE TAX OF RS. 40.1 MN FOR THE QUARTER

Operating Highlights

Despite the flagship channel, Zee News, taking inventory 30% cut and operating in a difficult economic and industry environment, Zee News Ltd. continued to drive growth in the Operating Revenues with 8.2%. The Operating Revenues stood at Rs. 688.8 mn as compared to previous year’s Rs. 636.6 mn.
Ad revenues displayed better growth than the news industry in general despite the inventory cut of the flagship channel with a 6.2% growth at Rs. 463.2 mn as opposed to Rs. 436.4 mn in the same period during last year.
Subscription Revenues showed a slight degrowth of 3.0% at Rs. 176.0 mn. However, the real growth in Subscription Revenues was higher as they were booked net of expenses. This change was necessitated due to the formation of Media Pro with effect from Jul 1, 2011, a joint venture, which pays subscription revenues to ZEE, net of expenses. Hence, the numbers are not comparable to those of corresponding period last year. We expect the completion of Phase 1 of Cable Digitization to add substantially to the Subscription Revenues.
EBITDA stood at Rs. 53.4 mn as opposed to Rs. 76.6 mn on account of increased expenses due to general inflationary trends.
ZNL reaffirmed its leadership amongst the various News Networks and was No. 1 in relative share in Top 6 metros for the Network. (Source: TAM, Week 14-26, CS 15+, 6 Metros).
Although overall viewership position for Zee News, our flagship channel, has consolidated at no 4 for the general news viewer at 12%, the channel was No. 2 in terms of Time Spent Per Viewer for the premium viewer and retained its leadership in the News Content with 17.3% news content share in Top 8 channel scenario. (Source: TAM, Week 14-26, News Bulletin, CS 15+ for general news viewer, CS 25+ AB, Top 8 Metros).
Zee Business, India’s first 24-hour Hindi business channel, continuous to reign supreme. As per the Q1 13 weeks average, Zee Business garnered a channel share of 25% – a strong No. 2 position in the 6 channel business news genre. (Source: TAM, Week 14-26, TG: CS 15+, HSM)

Mumbai, India; Jul 19, 2012 – Zee News Limited (ZNL) (BSE: 532794, NSE: ZEENEWS) today reported first quarter fiscal 2013 consolidated revenues of Rs. 688.8 million. Consolidated EBITDA stood at Rs. 53.4 million. Net Profit before tax stood at Rs. 40.1 million

and Operating Expenditure at Rs. 635.5 mn. The Board of Directors, in its meeting held today, has approved and taken on record the Un-audited financial results of ZNL for the quarter ended on June 30, 2012.

Mr. Subhash Chandra, Chairman, Zee News Ltd., said, “There is an overhang of inflation which is looming over the different sectors as well as the consuming class in India. While the perceived lack of action on reforms is being talked about, the India story is still perceived to be strong in the global arena. Always having a focus on current deliverables, our strategies are born out of a long term vision. This has enabled us to tide various troubled waters.”

He added, “A couple of aspects of business environment are expected to improve with slow but sure Cable Digitization. Our results are in line with our expectations in a scenario wherein growth is under pressure for a lot of sectors.”

Mr. Punit Goenka, Managing Director, ZNL, said, “To encash in on Cable Digitization, we have cut down inventory of our flagship channel Zee News took by 30% under the Maximum News, Minimum Breaks initiative. While, the company has shown revenue growth despite the inventory cut, the viewership increase should happen in due course of time. The delay in deadline of Phase 1 of Cable Digitization is a speed bump in improving the business models of television news broadcasters. While the delay is certainly disappointing, our existing strength in Subscription Revenues should see us through this period of transition. Our New Strategic Initiatives plan is in place to leverage increased viewer choice as well as improved business model post Cable Digitization.”

He added, “Meanwhile, we continue to ensure that the brand salience of the individual channels in News Network is maintained and strengthened through our various marketing activities.”

Mr. Barun Das, CEO, ZNL, said, “Zee News Ltd. has always been prudent in news operations. While looking at the current economic environment, we have tightened our belts on our operational expenses; we have earmarked a separate set of investments towards strategic programming and marketing initiatives. With Cable Digitization being pushed back there are challenges in the future. But since government and other stakeholders are committed to Cable Digitization, a company like us with focus on multiple revenue sources would stand to gain immensely in the long term.”

Full Version: 1Q FY 13 Earnings Release

Print_Format_30.06.12.pdf

Thai: NBTC regs for Telecoms FDI dominance

July 19 2012 – The National Broadcasting and Telecommunications Commission board approved the draft of revised regulations yesterday preventing foreign dominance in the local telecom industry.

The draft will take effect next week, said Col Settapong Malisuwan, chairman of the NBTC’s telecom committee.

The revised regulation followed a public hearing held by a subcommittee last December.

Col Settapong said the NBTC believes the new foreign dominance regulation will not be a tool allowing another party to disrupt the third-generation (3G) licensing auction on the 2100-MHz frequency scheduled for this October.

The rule is designed to help local telecom operators avoid breaching the Telecommunications Business Act and the Foreign Business Act and not deter foreign investment, he said.

Pressure on Rovi as patents fail to come through

July 18 2012 – Rovi has said it expects a fall in revenues of around $20 million after it experienced delays in adding new patent licences to service operators in Europe and in the US around the TV Everywhere concept.

Revenues in the second quarter are expected to total $158 million, as opposed to the $179 million the company achieved in 2011.

Phils to reduce TV sex and violence

July 18 2012 – Government censors will be implementing a “TV violence rating code” to get television networks to tone down graphic scenes of sex and violence in the news and other programs, while setting aside 15 percent of their airtime for “child-friendly” programming.

The Department of Education’s (DepEd) National Council for Children’s Television (NCCT) and the Movie and Television Review and Classification Board (MTRCB) on Tuesday released the implementing rules and regulations of the Children’s Television Act, a 1997 law promoting child-friendly television programming.

MTRCB chairperson Grace Poe Llamanzares expressed alarm that children, who watch an average of 21 hours of TV per week, are exposed to up to 18,000 scenes of simulated murder by the time they turn 18. That is equivalent to 1,000 scenes per year or up to three scenes per day.

TRAI ready to discuss new ad limits

July 17 2012 – New Delhi – Broadcast regulator TRAI today told tribunal TDSAT that it was open to discussions with broadcasters to consider amending its directions on limiting advertisement time in TV channels.

During the proceedings, counsel appearing for TRAI said the regulator was willing to look into various issues raised by broadcasters that have opposed the move to put a cap on advertising time.

“There are issues… we are willing to consider. We are looking in a broad manner,” said TRAI counsel Mr Saket Singh.

“Whatsoever the issue, (after discussion) we may amend that also,” he said.

The Telecom Regulatory Authority of India also sought six weeks time from the tribunal for this process, which was granted by the TDSAT Bench headed by its Chairman, Mr Justice S.B. Sinha.

GMM Grammy pay-TV platform

July 18 2012 – Music and entertainment giant GMM Grammy will launch a pay-TV service within the next couple of months after the National Broadcasting and Telecommunications Commission grants licences for pay-TV service providers in August.

Chairman Paiboon Damrong-chaitham said yesterday that the company wanted to ensure that the regulations to govern satellite and pay-TV service providers were complete and ready for all players.

Once licensing comes into effect, the company is prepared to launch at least 10 pay-TV channels, he said.

Paiboon added that his company would offer prepaid service to registered customers who want to access pay-TV content on its 10 special channels via GMM Z satellite TV receivers. For example, the package that costs Bt300 monthly offers five or six sports channels, and the Bt200 package offers four entertainment channels.

The upcoming pay-TV services will be run by GMM Z, the satellite-broadcasting unit of GMM Grammy. GMM Z is also the trader and distributor of satellite TV set-top boxes under the same name.

Disciplining web infringers

July 17 2012 – (CNN) — Recently an op-ed by Douglas Rushkoff took up the issue of the creation of the Center for Copyright Information (CCI), a coalition charged with implementing the Copyright Alert System, a graduated response framework to copyright infringement. As the executive director of the Center, I would like to respond to several concerns that article raised about how the program will work and its goals

For background, the Copyright Alert System aims to inform consumers of inadvertent or purposeful unauthorized distribution of content over peer-to-peer networks and to help consumers find legal ways to obtain, share and enjoy movies and music protected by copyright.

The program represents an unprecedented and voluntary partnership between leading Internet Service Providers (ISPs) — AT&T, Cablevision, Comcast, Time Warner Cable and Verizon — and U.S. content creators — represented by the Motion Picture Association of America and the Recording Industry Association of America — with advice from leading consumer advocates. Gigi Sohn, president and CEO of Public Knowledge and Marsali Hancock, president, iKeepSafe.org, sit on our advisory board, to name just two.

Result of the court meeting and adjournment of the SGM

HONG KONG, 18 July 2012 – Asia Satellite Management Stock Ownership Trust (“MSOT”) and AsiaSat MSOT (PTC) Limited (acting in its capacity as trustee of MSOT) (together the “Offeror”) and Asia Satellite Telecommunications Holdings Limited (“AsiaSat” or the “Company” and together with its subsidiaries, the “Group”) (HKSE: 1135; 1135.HK) jointly announced today that the proposal (the “Proposal”) for the privatisation of AsiaSat by way of a scheme of arrangement (the “Scheme”) has not been approved by the requisite majority and was disapproved by over 10% of the votes attaching to all the shares held by the independent shareholders at the Court Meeting (the “Results Announcement”). As a result, the Scheme cannot be put into effect, the Special General Meeting (“SGM”) has been adjourned indefinitely and the listing of AsiaSat shares on the Stock Exchange of Hong Kong is and will be maintained.

At the request of the Company, trading in AsiaSat shares was suspended from 9:00 a.m. on Wednesday, 18 July 2012 pending the release of the Results Announcement. An application has been made by the Company to the Stock Exchange for resumption of trading in AsiaSat shares with effect from 9:00 a.m. on Thursday, 19 July 2012.

Pursuant to Rule 31.1 of the Code on Takeovers and Mergers, neither the Offeror nor parties who acted in concert with it in the course of the Proposal (nor any person who is subsequently acting in concert with any of them) may within 12 months from the date of the Results Announcement, announce an offer or possible offer for the Company without the consent of the Securities and Futures Commission of Hong Kong.

For a detailed breakdown of shareholder voting and other information, please see the Results Announcement, which is available at www.hkexnews.hk and www.asiasat.com.

-End-

About Asia Satellite Management Stock Ownership Trust and AsiaSat MSOT (PTC) Limited
AsiaSat MSOT (PTC) Limited is a company incorporated in the British Virgin Islands with limited liability. It is a wholly-owned subsidiary of AsiaSat and is the trustee of Asia Satellite Management Stock Ownership Trust, a management stock ownership trust established by the Company for the purpose of holding new shares and preference shares in the Company to be allotted and issued upon the implementation of the Scheme and in connection with the operation of a management incentive award plan to be adopted by AsiaSat as from the effective date of the Scheme for the benefit of selected employees of the Group.

About Asia Satellite Telecommunications Company Limited
Asia Satellite Telecommunications Company Limited, the leading regional satellite operator in Asia, serves over two-thirds of the world’s population with its four satellites, AsiaSat 3S at 105.5ºE, AsiaSat 4 at 122ºE, AsiaSat 5 at 100.5ºE and AsiaSat 7. The AsiaSat satellite fleet provides services to both the broadcast and telecommunications industries. Some 500 television and radio channels are now delivered by the company’s satellites offering access to over 620 million TV households across the Asia-Pacific region. AsiaSat also provides telecommunications operators and end users services such as voice networks, private VSAT networks and broadband multimedia. AsiaSat’s latest satellites, AsiaSat 6 and AsiaSat 8, are planned to be launched in the first half of 2014. It is a wholly-owned subsidiary of Asia Satellite Telecommunications Holdings Limited, a company listed on The Stock Exchange of Hong Kong Limited (Stock Code: 1135). For more information, please visit www.asiasat.com.

For media inquiries please contact:
Sabrina Cubbon, VP Sales and Marketing
Tel: (852) 2500 0899
Mobile: (852) 9097 1210
Email: scubbon@asiasat.com

Winnie Pang, Manager, Corporate Affairs
Tel: (852) 2500 0880
Email: wpang@asiasat.com

HK Cable shares Olympic fees

July 18 2012 – Hong Kong – A last-ditch agreement has been reached between i-Cable and the two free-TV stations over broadcasting the London Olympics.

With government mediation, i-Cable agreed to sell the rights to 200 hours of Olympics events, including the opening and closing ceremonies, for an undisclosed amount.

TVB and ATV will jointly produce programming around the games.

As for advertising, the three stations will draw advertisers separately and i-Cable’s ads will not be shown on TVB or ATV.

Jupiter Telecommunications Announces June 2012 Subscriber Figures

July 17 2012 – Tokyo, Japan — Jupiter Telecommunications Co., Ltd. (J:COM, JASDAQ: 4817), the largest multiple system operator (MSO) in Japan based on the number of customers served, has announced that the total subscribing households*1 as of June 30, 2012 served by J:COM’s 16 consolidated franchises*2 reached approximately 3.69 million, up 204,100 or 5.9% from June 30, 2011. Combined revenue generating units (RGUs) for cable television, high speed Internet access and telephony services reached 7.36 million, up 594,100 or 8.8% from June 30, 2011. The bundle ratio*3 increased to 2.00 as of June 30, 2012 from 1.94 as of June 30, 2011.

※ J:COM decided to deploy the new definition as the official figure since January 2012. The followings are the changes from the former definition. We continue to disclose the figure under the former definition as a referential figure.

1. In the light of the industry’s common practice to include the BS digital retransmission subscribers as cable television service subscribers, J:COM includes pay terrestrial digital and BS digital retransmission service subscribers into cable television subscribers.

2. For service subscriptions under Bulk Plan, the number of subscriptions to cable television and high speed Internet access services and the total subscribing households were calculated using multipliers based on discount rates from listing pricing applied to owners/management associations and residents, respectively. As below, the numbers of cable television, high speed Internet access service subscribers and total subscribing households under the new definition are counted based on the actual number of users. (Telephony subscriber numbers are already counted based on the actual number of users).

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