FBT on Event management costs

Dear Friends

I work for a media company (magazines). We hold branded events which are sponsored by various companies. We incur costs such as cost of venue (typically a 5 star hotel), room rentals, food and beverages,equipment hire, travel tickets for invitees and staff etc.,. Example the Economic Times awards.

I would like to understand whether such expenses are subject to FBT ?

We are not a government agency, trade association or body as per 115WB(2)(D) clause iii.

I would think the expenses are not expenses on conference or seminars as we are not attending but hosting the same.
Will it be considered as entertainment ?

Thanks in advance for your views and thoughts.

RRchandran