MUMBAI: Pursuing a vertically integrated model, Eros International Plc is planning to take full control of B4U Television Network by acquiring the remaining 76 per cent stake for a cash and share consideration of $53.1 million (Rs 2.8 billion).

Eros already owns 24 per cent in B4U, the global Bollywood network that runs two channels. B4U Music and B4U Movies are available in more than 100 countries, including India, the UK, the US, Canada and countries in the Middle East and Africa.

Eros anticipates ?entering into a definitive agreement on or after 24 April to acquire control of B4U. The TV broadcast company is currently controlled by steel magnate Lakshmi Mittal and London-based industrialist Gokul Binani.

Eros International chairman and CEO Kishore Lulla said, ?We are delighted to announce our anticipated acquisition of the remaining 76 per cent of B4U. We expect that B4U?s global network, as well as its film and music content, will complement Eros? existing product offering."

The share payments may alternatively be made in cash at Eros? option.

Eros saidTuesday that the aggregate purchase price will consist of:

• B4U?s cash on hand net of all B4U?s outstanding bank loans and overdrafts (a net amount of up to $19.3 million) to be paid in cash on closing;
• Approximately $5.7 million in Eros A ordinary shares upon the earlier of 14 business days from the listing of Eros A ordinary shares on the NYSE or 30 days after closing (or, if the listing of Eros A ordinary shares on the NYSE occurs 14 business days prior to closing, at closing);
• Approximately $19.3 million (less the consideration in cash paid at closing) in cash and approximately $10.4 million in our A ordinary shares or cash, at the option of Eros, on the first anniversary of the closing of the acquisition; and
• Approximately $7.3 million in cash and approximately $10.4 million in our A ordinary shares or cash, at the option of Eros, on the second anniversary of the closing of the acquisition.
   

The deadline to close the transaction is approximately 120 days from the date of the definitive agreement unless mutually agreed to be extended.

Eros said that though it holds approximately 24 per cent of B4U, it has not exercised significant influence over the company.

Eros cautioned that the pending acquisition of B4U remains subject to customary closing conditions, including the receipt of necessary regulatory approvals, and may not occur on the expected terms or at all.

For the financial year ended 31 March 2011, B4U?s net income was $2.5 million and net assets were $28.7 million. B4U generates the majority of its revenues internationally, predominantly through fees earned from being a part of a cable or satellite service provider?s subscription package, and within India from advertising. Eros said that the company expects B4U to benefit from expanding international coverage and growing television advertising spend in India.

MUMBAI: Dow Jones? Factiva, a global digital business aggregator, has extended its reach in Asia with the launch of Korean-language coverage and the addition of several leading South Korean news publications.

Factiva includes content from Maeil Business Newspaper, The Herald Business and Korea Newswire. Content from JoongAng Ilbo, JoongAng Sunday and Economist, in addition to news and commentary provided through the Dow Jones Korean Language Service, will be progressively added over the coming weeks.

The expanded Korean-language content comes as US and European companies increasingly look to the South Korea market for trade and investment opportunities. The US-South Korea free trade agreement, ratified in 2011, took effect on 15 March.

Factiva?s addition of these widely circulated, influential business and financial news sources greatly extends its search capabilities in South Korea and will complement an existing range of English-language sources already covered from South Korea.

Users will also be able to take advantage of Factiva?s automated translation feature to translate search results into English, or one of more than 50 supported languages, to enhance their understanding of their organisation?s brand or products as covered in influential South Korean media, as well as of their key partners or competitors.

Dow Jones VP of Factiva David Chivers said, "Factiva?s ambitions to expand news and information sourced from South Korea are commensurate with the growing presence of South Korean brands in the U.S. and American brands in South Korea. With the combination of search, alert, snapshot and translation functions within Factiva, our users will be better equipped to identify and respond to opportunities in the South Korea market."

South Korea is one of Asia?s five-largest economies by nominal GDP and a growing source of and destination for foreign direct investment and global trade.

MUMBAI: BBC World News will kick off a new season of ?Horizons? on 7 April with an exploration of the future of transport, looking at breakthroughs in the US, China and the UK.

Presented by business journalist Adam Shaw and reporter Saima Mohsin, ?Horizons? continues its journey around the globe, visiting destinations including India, Brazil, China, and the US to discover the scientific and business ideas that could shape the future of the planet.

The first episode takes a look at the question of how we balance a burgeoning global population?s increasing demand for personal mobility with the environmental impact; exploring some of the novel approaches being taken around the world to keep us all on the move.

Shaw said, "We?ve been travelling the world looking for innovative and world-changing solutions to some of the biggest challenges the planet faces today and in our first show we look at some of the more unusual inventions being used globally to keep people moving in major urban areas."

Shaw visits the Fushida Electric Bicycle Company in Tianjin, China to explore how the phenomenon of the electric bicycle has swept the country. With an estimated 120 million electric bikes already in use domestically, Adam discovers how the latest incarnation of the humble bicycle could provide a solution to gridlocked roads in a country with a population already topping the 1 billion mark.

He also travels to the US to investigate a breakthrough in the use of hydrogen fuel and to meet one of the biggest names in the global automotive industry, William Clay Ford Junior. Ford reveals how his vision for a more environmental approach to the future of the car doesn?t necessarily mean giving up on the legacy of his great-grandfather.