All you "Friends" lovers here‘s an interesting fact which will tell you that it ‘really pays‘ to be good friends - pun intended.

The cast of Friends, which will enter into its sixth season, have negotiated a deal with NBC which could well be one of the highest paying deals per episode.

According to the new two-year contract, the cast of Friends, which includes David Schwimmer, Lisa Kudrow, Matthew Perry, Jennifer Aniston, Courteney Cox Arquette and Matt LeBlanc, will be getting a package of $750,000 per episode. This is a raise from their $125,000 five-year deal which they signed in 1996. The actors were negotiating as a group for a package of $1 million per new episode.

In addition to the flat rate, the stars of the series will see their share of lucrative syndication rights double from a half point to a full point, according to industry sources. The deal assures NBC of an anchor for its Thursday night showcase through the 2002 television season.

As part of its integrated marketing initiative, Cartoon Network will be premiering its on-ground promotional event for the Asia Pacific region, Cartoon Network Super-Size Cinema, in Mumbai on 20 May, 2000.
The event will be divided into two sections: first will be the screening of Cartoon Network originals, Cartoon Cartoons, on a giant 35-foot screen. The second will be an interactive session which will include fun & games and contests.

The event will cover other two metros namely Delhi and Chennai at a later date.

According to Christine Fellows, VP, Cartoon Network Asia Pacific, "This is the first time Cartoon Network Super Size Cinema has ever been launched in any country outside the US. The X-Treem Toon Challenge is an innovation that has been specially designed for India and this is its world premier."

An extraordinary general meeting of shareholders gave Zee Telefilms chairman Subhash Chandra and the company the go-ahead to acquire 61 per cent equity of Asianet Communications, which runs the Malayalam channel of the same name.
The cost: Rs 2,550 million plus a Rs 1,000 million as a non-compete cash consideration. Zee Telefilms will issue 2.7 million shares to Asianet promoter Dr Raji Menon (amounting to 0.66 per cent of Zee Telefilms‘ capital). The non-compete clause forbids Asianet from launching any regional language channels over the next five years.

Zee Telefilms additionally has the option to buy another 12 per cent of Asianet‘s equity within the next three years if needed. Asianet notched up revenues of Rs 186 million (financial year: 1998), Rs 254 million (1999) and (Rs 355 million: expected for 2000). Its corresponding profit after tax is: Rs 23 million, 30 million, and Rs 69 million respectively.

"Asianet has a good 75 per cent of the Malayalam market," said Chandra. "Additionally, it will launch Kannada, Tamil, and Telugu channels. The Kannada channel should launch by 21 May. We are buying into the whole story and not just Asianet Malayalam."

Zee Telefilms is reconsidering its ADR issue. Chairman Subhash Chandra told investment analysts (at a meet organised by Zee and attended by 200 of them on 11 May in Mumbai) that the company‘s management was relooking whether its idea to go for an ADR issue was the best option available.
"We are relooking the issue," he said. "Could debt be a better option? Or may be divesting Siticable equity? Or E-connect equity? We need about Rs 22,000 million for all our plans of convergence, may be we could raise it differently! In the current run of things with shares sinking to their depths, things do not look so bright for an ADR."

The ADR issue was billed as the biggest from India with a target of raising $1.5 billion. It was later pruned to $200 million and going by current statements, it‘s possible it may be called off totally.

The reason: the Zee stock has been stuck at between Rs 600-800 for the last few weeks. At Rs 1,500 plus last month, it seemed well on its way to cross Rs 2,500-3,000. Around that time it was hit by the meltdown in Internet and media stocks which was worsened when certain operators worked to a plan to pull the stock down from Rs 1,500 plus to less than Rs 600.

"We have committed to not divest more than 10 per cent of Zee‘s equity," said Chandra. "If we have to raise ADR funds at a price of Rs 600, then we will have to divest more than the figure we have committed."

Star TV and ANZ Grindlays have got into bed together with Mastercard International. And the result of the menage a trois: a bonny alive and kicking credit card which was revealed to the world today. It has been christened the ANZ Grindlays Star TV World card.
The card claims to offer owners a host of powerful benefits and services which are being touted as a "first" for the Indian credit card industry. A powerful rewards programme, movie screenings, concerts, and a shot at fame with participation on Star TV shows. This apart there are rewards such as a free Satyam Infoway Net connection (70 hours of surfing), air tickets from Qantas, revolving credit facility, transfers from other plastic, 24 hour call centres, tele-travel, and personal accident insurance.

The card‘s cost: a membership fee of Rs 1200 per annum. The target audience: urban, middle and upper-middle class families. Some 350,000 cards are to be issued this year. Those interested in opting for the card in India can call 9622 800 800.

Cardholders will be in a position to use the ANZ Grindlays Star TV World card worldwide at 17 million merchants and 460,000 ATMs and over 110,000 outlets in India/Nepal. Similar co-branded credit card are to be introduced in other countries in the Asia Pacific region as well.