MxMIndia

Tag: TV Today

  • The departure is reportedly with immediate effect

    Vikas Khanchandani quits Republic. Hersh Bhandari to take charge as Group COO. Darius Maneckji is Business Head

    By Our Staff

     

    Vikas Khanchandani
    Vikas Khanchandani

    Republic Media Network Group CEO Vikas Khanchandani has decided to move on from the organisation. The departure is with immediate effect and MxMIndia has confirmed the development. It is not known where Khanchandani will be moving to.

     

    Meanwhile, Republic has announced a restructure of its management, effective immediately. Newly-inducted Darius Maneckji will report to Hersh Bhandari, who has been elevated to Group COO – Broadcasting Division. Bhandari will be incharge of the entire broadcasting businesses of the network.

     

    Hersh-Bhandari
    Hersh Bhandari
    Darius-Maneckji
    Darius-Maneckji

    Maneckji will be Business Head-Republic TV and Senior EVP. He will now lead the national operations for Republic TV, including the channel’s offices in Bengaluru, Noida, Gurugram, Kolkata and Mumbai. He has been National Sales Head in the past for Times Now and also National Sales Head for the English Movie Cluster at Turner International India.  Before onboarding with Republic TV, his last assignment was with TV Today.

     

    Arnab Goswami

    Said Arnab Goswami, Founder and Editor-in-Chief of the Republic Media Network: “The induction of strong business talent is part of the expansion of the Network and creation of a strong organizational base to take the plans forward,: adding: “I am excited about the new roles for both Hersh and Darius. The broadcasting division under Hersh will see rapid growth, like never before. Our digital business is being expanded by 100 percent and together with our Strategic Business partnerships, will be hived off into separate business divisions, each with their own leadership and goals. At a consolidated level, this should place us in a fantastic position to be the number one TV+Digital News company across the board in two years.”

     

    On his elevation, Bhandari said: “At Republic Media Network, we continue to consolidate and strengthen ourselves with speed for the growth that beckons us. I’m energised by the trust reposed in me by the Board, Management, and my colleagues, to help shape and deliver the next phase of growth. We think and move as one, shoulder-to-shoulder.”

    Added Maneckji: “I’m excited to join India’s fastest growing news Network. I look forward to working with one of the best teams in the business to ensure we continue to command and establish our leadership role in the English News genre.”

     

    Priya Mukherjee
    Priya Mukherjee

    Khanchandani is the second senior person in the founding team of Republic TV. Distribution head Priya Mukherjee had moved out last year. Both Khanchandani and Mukherjee were part of Republic from before it started in 2017.

     

  • Several leading business groups now have investments in domestic media corporations and more are keen to get a foothold, making this an interesting opportunity

    Kumar Mangalam Birla may sell minority stake in India Today group

    By Arijit Barman & Arun Kumar

     

    Two years after making a personal investment in the Aroon Purie-controlled Living Media India – widely known as the India Today Group – for a minority stake, Kumar Mangalam Birla may be planning to cash out. Multiple sources aware of the development said Birla, the chairman of the diversified Aditya Birla Group, has roped in Bank of America Merrill Lynch to help him find a buyer for his minority stake.

     

    In May 2012 Mr Birla picked up a 27.5 stake in the New Delhi headquartered company that straddles the entire media chain, from television to magazines and a tabloid. Living Media Ltd is the holding company and also owns 57.2 per cent in TV Today Network – a listed company that controls the group’s broadcasting assets such as Aaj Tak and Headlines Today – besides the publishing ventures, including flagship India Today.

     

    As per the 2012 agreement, Mr Birla’s holdings were not frozen but were linked to certain financial milestones that the group had to achieve. Currently, the sources cited earlier said, Mr Birla owns a larger equity stake, believed to be around 34-35%. They add that discussions with both strategic and financial investors like private equity funds have been ongoing for a while now. Several leading business groups now have investments in domestic media corporations and more are keen to get a foothold, making this an interesting opportunity.

     

    The option of selling the stake back to the Purie family is also a possibility. Neither Mr Birla nor the India Today Group have ever disclosed the quantum of investment. While some say so far Mr Birla has pumped in Rs 700 crore, others speculate that the amount is half that, around Rs 350-Rs 400 crore. A Birla Group spokeswoman refused comment on what she termed as “market speculation”. The Bank of America Merrill Lynch spokesperson also declined comment.

     

    Even though Mr Birla’s decision has come as a surprise to many, people familiar with his thinking say Mr Birla feels that the government might impose restrictions on media ownership by corporate houses. “Owning media assets can be a double edged sword for corporates.

     

    Governments or political parties can misconstrue the strategic intent of the investment and any criticism or critical coverage can get the corporate owner in trouble. So even if a corporate gets into it, in most cases it would be either through indirect ownerships or personal investments as they would want to derisk the main businesses,” said a person familiar with the thinking behind Mr Birla’s investment. He spoke on condition of anonymity because of the sensitivity of the matter. “It was always a personal investment and there was no business angle to it. There was never any interference into editorial matters or with the management,” added another person, aware of Mr Birla’s investment philosophy with regard to Media.

     

    Mr Purie’s publishing empire, controlled through Living Media, also includes Business Today, a business magazine, and a clutch of licensed magazines such as Cosmopolitan, Good Housekeeping, Men’s Health, Harper’s Bazaar, Travel Plus and Harvard Business Review, among others. It also has a joint venture with German media house, Axel Springer AG, for an auto magazine and an online shopping portal: Bag it today. Additionally, a joint venture with UK-based Daily Mail brings out the tabloid Mail Today.

     

    TV Today has four news channels – Headlines Today, Aaj Tak, Tez and Delhi Aaj Tak – and radio stations under the brand Oye FM. In the June FY14 quarter, TV Today posted a profit of Rs 32.7crore on revenue of Rs 137 crore. It’s current market capitalisation is Rs 908.7 crore.

     

    Interestingly, the Anil Ambani controlled Reliance Capital has been selling down its 7 year old exposure in TV Today.

     

    From a peak equity holding of 14.9%, it has slowly reduced its stake, the latest such sale being in the first week of this month, when it offloaded nearly 4,80,000 shares for Rs 7.38 crore in the open market. With this, R-Cap’s stake in the company has fallen to five per cent.

     

    Source:The Economic Times

    Copyright © 2014, Bennett, Coleman & Co. Ltd. All Rights Reserved

    Licensed to republish

     

  • Aditya Sinha quit DNA as editor-in-chief last week amidst rumours that the move had linkages with the Zee News controversy. While he denies the coincidence theory, do read the between the lines to figure what could be the reason

    Jaldi 5 with Aditya Sinha, former editor-in-chief, DNA: Coincidence that quitting timed with Zee News controversy

    When Aditya Sinha announced his decision to quit DNA as editor-in-chief last week, the move surprised especially since he was rumoured to be getting along well with Zee group chief Subhash Chandra. On Saturday, he tweeted: To those who asked: I have resigned DNA to focus on writing novels. First book being reworked, second just started. For wishes, many thanks.”

     

    When asked to reconfirm this, he told MxMIndia that he had submitted his resignation on December 6 and has moved on from immediate effect. “I have been hanging around, however, merely to drag out my goodbyes,” he said.

     

    On when his first book is going to be published, he corrected us. “My first book, non-fiction, was published in late 1995. My first novel will be published once we find a publisher, so I cannot currently give you a date,” he said. Indeed: Death of Dreams: A Terrorist’s Tale was a book on a Kashmir youth’s ascent as the head of a terror outfit.  He also wrote a biography of Dr Farooq Abdullah in 1996 and as he mentioned in a column in the DNA, he has ghostwritten a 1994 book by Salman Khurshid.

     

    When asked on his replacement, Mr Sinha also informed us that: “Ravi Joshi, the recently appointed Mumbai RE, suddenly finds himself incharge. Bhaskar Das may find an alternative if he can convince someone from his old place of employment to join.”

     

    It may be remembered that DNA has seen a rehaul of its A-team in the recent past, and Mr Sinha’s exit completes that. CEO K U Rao moved out last month to join parent Zee group as CEO of WWIL (SitiCable). In September, it hired Sorbojeet Chatterjee, as Vice-President – Marketing from Neo Sports (and marketing head at the TV Today network prior to that). Earlier, it appointed Varun Kohli, chief monetizing officer with Mogae Media, to head revenue (as Executive VP – Sales).

     

    Since there has been much speculation about Mr Sinha’s reasons for quitting, given that it comes in the wake of the controversies around the arrest of two senior Zee News executives and his strong defence in his column last week, we asked him a few questions. While he denies the coincidence theory, do read the between the lines to figure what could be the real reason:

     

    01. Your resignation happens at a time when the Zee group is embroiled in a controversy, with the chairman Subhash Chandra also subjected to questioning and the pressure on the arrested editors to name him. Coincidence?

     

    Coincidence.

    a. Couldn’t you have pushed your decision to some other time?

    It could have been done at some other time, but why should I follow other people’s timelines?

    b. Your decision to move is also untimely because DNA’s CEO has moved to Zee and the new regime under Dr Bhaskar Das is just about settling in. Couldn’t you have stayed on more?

    Please see answer to 1a.

     

    02. You’ve been very candid in your columns. Last week saw you defend Zee and present the group’s standpoint? Could your resignation also be construed as that you are against carrying pro-Zee reports, or should one say: compelled to carry?

    I have never been compelled to carry reports. If a family member is accused of something, it is natural for a person to speak of their point of view, not to condemn them. I believe in what I write, and no one has ever forced me to hew to a particular line.

     

    a. Just to clear the air on the Zee-Jindal controversy. Since you would know the real story, and since one knows that you will not fudge things:

    – Are the Zee editors really innocent?

    – Was there no quid pro quo?

    Innocence or guilt, I do believe, are established by courts of law. And whatever the Zee News Editors may be, it is laughable to think that my resignation is a quid pro quo for them.

     

    03. Your highs and lows as Editor-in-Chief of DNA? Something that you would’ve not liked to see happening if you had to relive your tenure.

    My two-plus years as an Editor-in-Chief  have been great. Each day was a learning experience. The greatest satisfaction was when colleagues did work that was notable, which was often. Of course, it is a stress-filled job and each morning begins with some irritation or other. The only lows were realizing that people working in the company did not even read your newspaper! It shows you that most non-journalists in the media industry have zero passion for their jobs.

     

    04. We’ve heard that the paper is going through a redesign? And the edit page may be back?

    The paper is going through a slight redesign because Bhaskar Das wants to change the look-and-feel of the paper to a template that is familiar to us all. He is keen on an edit page, so I guess my departure strengthens his hands in some ways.

     

    05. What next after your books? Writing isn’t really a financially rewarding vocation. Are you going to continue to stay on in Mumbai?

    I honestly don’t know what the future holds. If I could, I would write books for the rest of my existence. Mumbai is an expensive place to live, but I do like living here.

     

  • He will be responsible for Network Development for India TV and upcoming group channels in domestic and international markets

    Rajmohan Nair joins IndiaTV as Prez-Network Devpt

    By A Correspondent

     

    India TV announced the appointment of Rajmohan Nair as President, Network Development. Prior to this he was VP-Distribution with TV Today. He has been fourth key appointee joining India TV from TV Today in less than three months.

     

    He will be responsible for Network Development for India TV and upcoming group channels in domestic and international markets. Mr Nair will be reporting to MD & CEO, Ritu Dhawan.

     

    Mr Nair has a career spanning around two decades, out of which 15 years have been in broadcast distribution space. As a member of the core strategy team of TVTN, he has been instrumental in encryption of the three TVTN channels & its launch in One Alliance Bouquet as a pay service.

     

    Welcoming Mr Nair on Board India TV MD & CEO, Ritu Dhawan said: “Digitalization is round the corner which will have an impact on the TV landscape in a big way. With Rajmohan coming on board at this juncture, we really feel optimistic that this will further boost the aggressive growth track we are set to follow”

     

    On his appointment, Mr Nair said, “It is a great opportunity for me to contribute towards further consolidating & cementing India TV’s leadership position in the news genre. What’s also exciting is the changing dynamics in the distribution space that shall also provide with a huge potential to develop pay business revenues for the channel.”

     

  • They should have got some speakers from television and print too, as they need to be told what are they doing to sustain in these mediums because they are also growing, says Joy Chakraborty, CEO, TV Today

    Don’t ignore TV & print: Joy Chakraborthy

    Joy Chakraborthy, CEO, TV Today gets candid as he talks with MxM India about the quality of sessions that were held at Goafest 2012 and what the committee needs to consider for 2013.

     

    How would you rate the several sessions that were held this year at Goafest?

    It’s good to see some good speakers at the sessions this year, but I would still suggest that they should have had some sessions on media because we are talking about future technologies while we are also talking about existing technologies like television and print – that is what I found missing. It’s always good to come back to Goafest because you get to meet all your friends, interact and network with them and partake of the nostalgia. So it’s great place to network, party and go back.

     

    Is digital receiving too much of a prominence at Goafest?

    Digital is getting prominence everywhere but people should not forget that all existing mediums are going to coexist; nothing is going to replace anything. The focus should also be on television and print and they should have got some speakers from these mediums too, as they need to be told what are they doing to sustain in these mediums because they are also growing. I have already put forth these recommendations to the committee. If you see, all sponsors are from print and broadcast, so they need to make these mediums inclusive in their plans.

     

    What are your views on the awards that were held this year?

    I think the awards got a little boring towards the end. Till Media Abbys were given it was good, but once it got to digital and other verticals it became boring. A few moments at the awards were interesting like the laser presentation made by Google.

     

    What are your travel plans for Goafest 2013?

    I think it’s always good to come here but I hope they accept our recommendations. I felt a bit let down this year, as you are setting standards of Cannes, you cannot afford to have technological glitches (as it happened on the first day at the Conclave); it reflects badly on us Indians. Such issues need to be addressed better.

     

  • Zee Entertainment executive director (revenue and niche channels) is reported to have put in his papers to take on G Krishnan's roles as TV Today Network CEO

    First (and only) on MxMIndia: Aroon Purie informs senior execs of Joy Chakraborthy’s appointment as CEO of TVTN

    By A Correspondent

     

    Joy ChakraborthyIt’s now confirmed. Mr Joy Chakraborthy, Zee’s executive director (revenue and niche channels) and a veteran media industry professional, will be the new CEO of the TV Today Network. Mr Chakraborthy takes charge of the position left vacant due to the resignation of Mr G Krishnan early last month.

    MxMIndia broke the story on Saturday, October 22 evening even as many senior executives in both media conglomerates were unaware of the development.

    On Monday evening, TV Today Network chairman and managing director Aroon Purie met senior executives of the company and announced the move. Earlier in the day, Zee Entertainment Enterprises Limited officially announced that Mr Joy Chakraborthy has stepped down after a stint of six-and-a half years, to explore new vistas. Along with heading the media sales, Mr Chakraborthy was also the business unit head of niche channels which includes Zee Khana Khazana, Zee Café, Zee Studio, Zee Trendz, ETC and Zing, a communiqué said. At the time of writing, there was no written communication from TV Today on Mr Chakraborty’s appointment.

    Mr Punit Goenka, MD & CEO, Zee Entertainment Enterprises Limited (Zee) said, “I have accepted his resignation with a heavy heart. He did lead a strong team at Zee that will continue to be part of our family. The entire Zee family wishes Joy all the success in his new endeavors.”

    Speaking on his tenure at Zee, Mr Chakraborthy said, “My journey for the past six-and-a-half years has indeed been extremely rewarding and fruitful, which I shall cherish. I am thankful to Zee for giving me the opportunity to explore and broaden my experience in diversified functions. Now as I step out to expand my horizons within the media industry and take a leap of faith to venture into a world beyond Zee, I wish Zee – Chairman, Punit as well as my colleagues – the very best. Since I will be at Zee for some time, I will indeed be ensuring a smooth transition of all my portfolios.”

    ZEE will be announcing the appointment of a successor for this position in the near future.

    Information courtesy Zee corporate site: Over and above Zee, Mr Chakraborthy has rich experience of 15 years in strategic media sales across media organization like The Times of India Group and Star Network. His academic armory includes graduation from National Defence Academy, Masters in Marketing Management from NMIMS and, more recently, the Advanced Management Programme from the Harvard Business School.