Prefixing the headline with Adani-owned may be deemed mischievous, but it was necessary to do that. For, post the acquisition, NDTV has the money power, and there’s a clear objective of doing well on the ratings roster. News18 and Aaj Tak, please note. So well, the new recharged NDTV has launched NDTV Madhya Pradesh-Chhattisgarh. The two states will see fiercely fought elections soon. The launch was scheduled yesterday, August 21. The website url is mpcg.ndtv.in. This is the first in a number of regional channels the network plans over the coming months.
Said Sanjay Pugalia, NDTV’s Executive Director and Editor-in-Chief on the launch:
“Our decision to go regional stems from our desire to provide hyper-local, relevant news to people living in these states, towns and villages. We’ll carry NDTV’s legacy of trust to MP-Chhattisgarh, and we’ll give the people of MP-Chhattisgarh news that matters to them.” Pugalia has worked across the news business, and knows the business better than most others.
Added Senthil Chengalvarayan, NDTV’s Executive Director: “NDTV’s regional channels are committed to bringing news you can trust, and carrying forward NDTV’s legacy of 35 years to the people of MP and Chhattisgarh. A big congratulations to the entire team on the launch.”
The Adani Group unveiled its new multi-media, multi-platform ad-campaign, ‘Hum Karke Dikhate Hain’. Developed by Ogilvy India, the “Hum mushkilo ki nahi sunte, karke dikhate hai” campaign is a testament to the Adani Group’s growth.
Through a 100-second television commercial that takes viewers on a visually stunning journey across the country, the Adani Group celebrates its 35 years of dedicated service to India. The Group will roll out the campaign across print, broadcast and social media platforms over the next few weeks.
Pranav Adani, Director, Adani Enterprises said: “The campaign perfectly captures the unconquerable spirit and ethos of the Adani Group to convert challenges into opportunities and its resolve to driving positive change in the lives of millions of Indians. As a first-generation entrepreneurial company, it is this indefatigable spirit that has been a bedrock of our culture.”
The Group has diversified into a world-class portfolio of independently governed market leading businesses that have revolutionized industry practices in sectors like energy and utilities, transport and logistics, materials, metals and mining, and direct-to-consumer.
Piyush Pandey, Chairman of Global Creative & Executive Chairman – India, Ogilvy, added: “Investing in infrastructure and national development projects needs determination and belief. This is the spirit of Adani and its new corporate campaign.”
The “humbling of Gautam Adani” says The Economist. Not sure if the Government of India is going to ask UK Prime Minister Rishi Sunak to personally spank the editors of the prestigious journal with his hairbrush, but this article provides a good round-up of the Adani “growth story” and Prime Minister Narendra Modi’s allegedconnection to Adani.
For the media however, is this damning paragraph to ponder on.
“Licence Raj to Silence Raj
The Modi years have in many ways eroded India’s checks and balances. His government has steadily undermined the independence of the courts and the police. The media are mostly too cowed to investigate the mighty as they once did. Few Indian newspapers would have touched a story about Mr Adani had an American firm not asked the tough questions first. Mr Adani himself recently bought NDTV, a news channel that was once critical of the government but is now supine.”
Obviously then, everyone knows how cowardly the Indian media is. Not that it’s a secret. Our star TV anchors are inordinately proud of their pusillanimity. And their ability to prostrate themselves in front of power. It gets them promotions and is thus profitable.
Here’s an example of how TV anchors behave, as if we didn’t already know. This is Navika Kumar, exalted “group editor” of Times Now. Her love for the Prime Minister is no secret, nor is her lack of aspiration to journalism, She has had to apologise for her treatment of Opposition politicians. But so what, eh? Clearly her love is pure.
The Prime Minister of India thundered through the speech above in Parliament, as ever blaming the last UPA government and previous Congress governments for the state of India. That Modi and the BJP have been in power at the Centre since 2014 means nothing to the BJP because they know they will not be held to account by the media. This Kumar tweet is not different from the way any of these TV anchors and those in cahoots with them behave. These are collaborators in a massive heist on Indian democracy. And they know it.
Adani, you may ask, where was Adani in the PM’s speech. Nowhere and that did not bother most Indian TV anchors and mainstream journalists anyway. Some asinine reference by Modi to the Nehru surname has excited them as Modi’s great “oratory”. Others are thrilled that Modi ignored Adani and had his own “agenda”.
As if after over eight years, we don’t know what the agenda is. Should I tell you? Or have you figured out what is lying in plain view?
The reason that Modi cannot mention Adani and that the media can allow him to get away with it is that Adani’s stock values have not stopped falling since the Hindenburg Report was released at the end of January. And that Modi has not been able to use his massive powers to help either Adani nor stem the effect of Adani’s troubles on the Indian economy points to both weakness and incompetence. The sad fact of the matter is that the media has boosted Modi’s oratory – which is mainly anti-Muslim and anti-Opposition – as good governance and ignored his government’s inability to provide governance and policy.
The short spurt in journalism which we saw during the pandemic has subsided.
And thus, this story remains buried somewhere on the inside pages:
Even the other week, we had top TV anchors tweeting about what a good job Modi had done with Covid compared to other countries. Not to mention how he had personally vaccinated all of us for free. I exaggerate but we all know that that’s how it rolls.
Meanwhile, journalists in India, the unknown, the unsung, who try to expose wrongdoing, pay the price:
The last week was unusually busy for the Indian TV industry. The week began on Monday, August 22, 2022 with TV Industry honchos speculating about the growth in TV AdEx in H2, while the big four got ready for the final fight for the ICC TV and Digital rights. On Tuesday, August 23, our TV industry saw its first hostile bid for takeover of NDTV by Adani group and the ripple effect of the news went vibrating through the nation and across all news media for rest of the week.
Like 9/11 has become an unforgettable date in the world history, 8/23 will become an unforgettable date in the history of Indian journalism. The news of SPN acquiring TV and Digital rights of US Open, which was announced on Thursday, August 25, went almost unnoticed as we were all busy in figuring out about the legitimacy of the Adani takeover bid. Finally, the news of Disney Star retaining the ICC TV and Digital rights for India till 2027 came on Sunday, August 28, 2022 ending all discussions on that front.
The speculations on the takeover bid of NDTV by Adani are alive. There is no doubt that the move by Adani was pre-planned and well-researched with calculated objectives in mind. As a well-wisher and regular follower of NDTV channels, I would be extremely happy if this attempt to strangulate NDTV news channels who dared to criticise the present government does not succeed, but from whatever information I have gathered over the last week, talking to various people in the industry and reading various reports, the chances of RRPR coming out unscathed from this entanglement does not seem to be good.
If we try to plot the happenings related to the NDTV takeover bid by Adani during the last week, we find that Advani group’s subsidiary AMG Media Networks Limited (AMNL) acquired Vishvapradhan Commercial Private Limited (VCPL), which was indirectly owned by Mukesh Ambani’s Reliance Enterprises. Almost immediately Adani Group announced their intention to take over indirectly 99.5% stake in RRPR Holdings Pvt Ltd, the promoting company of NDTV, which will give them 29.18% equity shares in NDTV on August 23. RRPR was asked to transfer the shares within two working days. In the same announcement an open offer was made to buy up to 26% of NDTV’s shares from the market.
NDTV management issued an internal circular the same evening claiming that the acquisition was not valid as it was done without their consent or any prior notice. Subsequently letters have been exchanged between RRPR and VPCL raising the issues of giving prior notice/ getting consent of the promoters as well as prior approval from SEBI for transfer of the shares, both of which have been rejected by VPCL. Adani Enterprises issued a statement on August 26 claiming that SEBI’s approval was not required as RRPR was not a party to SEBI’s order issued on November 27. NDTV on the other hand, cited an order by SEBI which bans both the promoter-directors, Radhika Roy and Prannoy Roy from accessing and dealing in securities for two years and has expressed their inability to transfer the shares immediately to VPCL. However, the period of that ban will end on November 26.
The route cause of this trouble seems to be a huge unsecured loan of Rs 400 + crore which was taken by RRPR in 2009 from VCPL. Why the promoter-directors needed such a huge loan is another story and will require another article. The loan agreement apparently gave an option to VCPL to convert the loan to equity shares. The details of the small prints of the agreement, like if VCPL was required to give a prior notice to RRPR or get their consent before exercising their rights of conversion are not known. Legal experts in the media industry are of the opinion that NDTV is currently buying time but their chance of thwarting the takeover bid depends on any loophole which Advani group might have overlooked in their hurry to acquire VCPL. However, that is a remote possibility.
The money trail interestingly goes back to Mukesh Ambani-owned Reliance Enterprises as VCPL in turn borrowed money for financing the loan to RRPR from Shinano Enterprises in the form of another unsecured loan in the same financial year. Shinano Enterprises was co-owned by Teesta Retail Private Limited, which was wholly owned by Reliance Industrial Investments and Holdings Limited. In 2012 the ownership of VCPL changed and two companies Nextwave Televenture Private Limited and Skyblue Buildwell Private Limited linked to the Reliance group became its owners. As per current market information VCPL was wholly owned by Nextwave Televenture Private Limited till AMG Media Networks Limited (AMNL) acquired it last week. However, no move was made by the Reliance group to take over NDTV by exercising the warrant as per the loan agreement during the last ten years since 2012 though they increased their stakes in media industry during this period. A complex deal of acquiring Network18 Group by Reliance Group was concluded in 2014.
NDTV shares which were not doing well in the market have got a boost after the takeover bid by Adani Group. The private shareholders currently may not accept the offer made by VCPL for selling their shares as the price is below the current market price. An upward revision of the price may tempt them to accept VCPL’s offer which will give Adani group the majority share holdings of NDTV. In that case NDTV will not be the same media brand and Adani Group will have to deal with practically a new launch which is not in line with a successful bid for taking over any ongoing business.
The Nation was celebrating its 72nd Republic day. Dressed in a kesariakurta, I had returned from a drive to Bandra Band Stand. The taste of Jalebi-Dhokla-Vada Pav from Punjab Sweets at Pali Hill was still fresh. It was slowly getting subdued with the fresh cup of Society Masala chai. A heavy dose of customary patriotic songs over the radio stations during the drive had charged me. On return to my society, I had even stopped and shot the typical picture, saluting the National Flag. And I had just watched the Republic Day communication developed by Manish Bhatt and the team at Scarecrow M&C Saatchi for the client Ambuja Cement.
For a change, the TV set tuned to NDTV I was watching the live parade telecast. In such a pleasant situation, dulled with everything will be right. The NCC cadets marching on Rajpath, the helicopters flying over the parade.
I was jolted to reality.
In between the parade coverage, the channel kept the viewers updated with visuals from the three alternate parades happening in the capital—the tractor rally of so-called protesting farmers.
What one saw was disappointing. One felt ashamed for the fellow countrymen taking this solemn moment to act in the way they did. They have been playing cat and mouse game with the government for long. January 26 was just a culmination of ill intension most likely supported by outsiders. This time it was not as bad as the riots of 2020.
One wished we were not a democracy. That the protesters had some fear of the law-and-order machinery. That the machinery was allowed a free hand to do what they are meant to do- maintain law and order. Hoped that they were amply supported with right weapons and intelligence. And when one saw the visuals from Lal Qila, one wished they allowed to shoot at sight, instead of allowing the hooligans to keep the city terrorised.
The law-and-order machinery was never in the game. The Government was put into catch 22 situations. The Government was anyway getting called for not acting. And would be called if they did act. Charged with this confidence, the patriotic farmers were busy challenging the Government.
The WhatsApp groups were full of typical armchair analyses if the situation. I was one of the vociferous participants. Whatever may be the Rajneeti, the politics of protest. Whoever may be supporting such a protest and gundagardi. If they were Nihangs or Jats. If they were on tractors or on foot. If they agreed or were protesting against a law that the elected representatives have crafted. And one that a large part if the country finds no problem with. None had the right to act the way they did. I go a step ahead; none should dare to act the way they did.
There is an urgent need in this country to bring new laws and take hard actions. Bring the destructors and penalise them. And if that calls for an emergency type of situation, so be it. The Nation has a responsibility. The Government has responsibility and accountability. What about the citizens of the country? What should the country expect from them?
I don’t know how, but we cannot afford such destructive protests. The Nation cannot be held to ransom. The laws are enacted by the elected representatives, and any question must be raised in the parliament. In my view, they should not even be challenged in the supreme court. At the worst case just like the president, the court can ask the Government to reconsider – but not force to amend a law duly enacted by an elected government. The battle has to be fought inside the parliament. If the regulations are anti-people, the people have the opportunity in the next election to reject the appeal.
When one sees the Rajpath Parade, and the Protestors violent parade side by side on the TV screen one gets disoriented. When one views a highly emotive campaign by brands on such occasions, one tends to get disoriented. When one listens to those songs that charge you up, one is unsure which country they refer to.
I know advertising cannot reflect this violent mood of the Nation. It will still continue to play on the emotions that you hold so dear. The campaigns will remain idealistic and the brands purpose-led. I am sure no brand will comment on what happened on January 26, 2021. Not sure, if they should. The taste has soured. The Ambuja Cement commercial was no longer making sense. What made sense is the MTV and GoldMedal electricals ad.
https://youtu.be/yMd29gMcJXQ
What I am sure is that we, hopefully, feel the need to wake up and take a stance. Tell the government we are with them. The citizens do not need to be threatened and terrorized of such gundas. We have elected a Government to keep order. As citizens, we just want to go about our business in peace and have a good night sleep. The citizen wants no more such incidents.
That the citizens feel about the Nation. They are patriotic enough not to raise questions if the Government acts decisively. The citizens feel charged when they see the patriotic campaigns not because it is not real-life. But because it is the Nation, they want to live in. And for it to happen, the citizens look at their elected government and the whole opposition to be constructive and decisive in action. Otherwise, none will be spared, and that is not being said figuratively.
So, if you are still not up. Here is another to close the argument- this time from Adani. And I am happy to note that instead of mussy-mussy all for the Nation- Tera Hai Par Mera Hai feeling- some are raising the questions.
The “humbling of Gautam Adani” says The Economist. Not sure if the Government of India is going to ask UK Prime Minister Rishi Sunak to personally spank the editors of the prestigious journal with his hairbrush, but this article provides a good round-up of the Adani “growth story” and Prime Minister Narendra Modi’s allegedconnection to Adani.
By Indrani Sen
The Nation was celebrating its 72nd Republic day. Dressed in a kesaria kurta, I had returned from a drive to Bandra Band Stand. The taste of Jalebi-Dhokla-Vada Pav from Punjab Sweets at Pali Hill was still fresh. It was slowly getting subdued with the fresh cup of Society Masala chai. A heavy dose of customary patriotic songs over the radio stations during the drive had charged me. On return to my society, I had even stopped and shot the typical picture, saluting the National Flag. And I had just watched the Republic Day communication developed by Manish Bhatt and the team at Scarecrow M&C Saatchi for the client Ambuja Cement.