Garware Offshore Services Limited, a leading offshore vessel owner cum operator, has signed an agreement for the acquisition of a Havyard 832 L SE Multipurpose Platform Supply Vessel (MPSV) at approximate cost of USD 55 million.

The new MPSV, which is scheduled to be delivered in the third quarter of FY 2011, is a state of the art vessel.

Adlabs Films, a member of the Reliance Anil Dhirubhai Ambani Group and the leading entertainment conglomerate in the country, has notified that the board of directors of the company has approved a scheme of arrangement envisaging demerger of its radio business into Reliance Unicom Ltd.

Chennai based Midvalley Entertainment, has filed a draft red herring prospectus (DRHP) with SEBI, to enter into the capital market with a public issue of 1.71 crore equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.

The issue also comprises a reservation of 3 lakh equity shares for permanent employees, thus bringing the net issue to 1.68 crore equity shares of Rs 10 each. The net issue will constitute 39.30% of the fully diluted post issue paid-up capital of the company.

Zee News, a part of the Essel Group has informed that the company has signed a strategic partnership agreement with Sky B (Bangla) Pvt. Ltd.

 Under the deal, Zee News Ltd will handle marketing, advertising, sales and programming initiatives of Sky B's Akaash Bangla, the 24-hour regional infotainment channel in Bengali, against an agreed fee structure.

Bengali news channel 24 Ghanta is owned by Zee Akaash News Pvt. Ltd, which is a 60:40 joint venture between Zee News Ltd and Sky B Pvt. Ltd.

Tokyo - Japan's Panasonic Corp is considering buying troubled Sanyo Electric Co to become the nation's largest electronics manufacturer, news reports said Saturday.

Panasonic wants to begin negotiations with the three top shareholders of its domestic competitor as early as this month, the Nikkei business daily reported.

Should the negotiations be successful it would be the first merger between two large Japanese electronics companies.

New Delhi Television Ltd (NDTV) has informed that the company has entered into agreement with U. K.-based ITV.

Under the arrangement, the NDTV would offer telecast rights of its general entertainment channel, Granada TV, across India and other South Asian countries.

In addition, NDTV would also offer Granada TV’s contemporary dramas, like Prime Suspect, The Jeremy Kyle Show, The Friday Night Project, Ballroom Bootcamp, Airline and Vroom Vroom. Initially, the channel would be broadcast in English, with local sub-titles to be available in launch markets.