Facing financial losses and credibility crisis, NDTV to put its assets on sale

New Delhi Television (NDTV) Limited, which is facing three-fold challenges – revenue loss, fraud and credibility crisis – is considering potential sale of certain strategic assets by one or more its subsidiaries.

In a regulatory filing before the Bombay Stock Exchange, the private broadcaster stated, “…the trading window for dealing in the securities of the Company will remain closed from 17 April 2017 till the conclusion of 48 hours from the date of Board meeting of the Company that is being convened to consider, inter alia, potential sale of certain strategic assets by certain material subsidiary (ies) of the Company.”

During the quarter ending 31 December, NDTV had reported a consolidated revenue loss of Rs 18 crore following a dip in advertising revenue.

- Advertisement - - Article resumes -

ND TV, primarily a left-leaning television news channel, often faces a lot of flak in social media for taking partisan stand against the Modi government and the BJP, using half truths and manipulation of facts. Incidentally, after the Congress lost power in 2014 general elections, the broadcaster is facing financial crisis.

At the same time the credibility of the channel is on a further downside with its anchors peddling fake news, channel being silent on crimes by relatives of NDTV journalists, and the channel giving platform to people who are abusive and violent.

NDTV also came under severe criticism for its coverage on the terror attack at Pathankot airbase. In November last year, the government had ordered a one day ban on NDTV India, after an inter-ministerial panel constituted by the Information & Broadcasting Ministry recommended this action. The ban was ultimately not executed, even as the channel refused to apologise for Pathankot coverage.

Amid all this, the Enforcement Directorate, in November last year, had slapped a show cause notice to NDTV for flouting foreign exchange regulations while bringing foreign investments to the tune of Rs 2,030 crore between 2007-10.

Accusing NDTV of money laundering, BJP leader and Rajya Sabha MP Dr Subramanian Swamy had written a letter to Prime Minister Narendra Modi requesting him to direct the Central Board of Investigation (CBI) to file case against the private broadcaster under Prevention of Corruption Act.

Alleging that NDTV was a party to Aircel-Maxis scam, during the Congress rule, Swamy said it had received illegal money from Maxis subsidiary Astro. Swamy further said that the money, received by NDTV from Maxis, was “illegally approved” by then Finance Minister P Chidambaram to “benefit his son” Karthi Chidambaram.

Recently, a book named ‘NDTV Frauds’, written by Sree Iyer was launched in the national capital by Swamy and activist-writer Madhu Kishwar. The book talks in detail about alleged illegalities committed by the media group.

The latest decision to sale some of its ‘strategic assets’ while the media group is facing challenges on multiple fronts doesn’t augur well for NDTV’s future.

Share and Support:
Support OpIndia by paying for content

Most read articles recently

Ghaziabad: Stray dog, mother of five puppies, raped and dragged to death by Nafees and Tauseef

Nafees, one of the accused, has reportedly confessed to the crime of raping the animal several times before dragging her through the streets

Here is what connects attack on Akshaya Patra, French NGO against Rafale and demonization of Amarnath Yatra

The web of foreign-funded NGOs that demonised the Amarnath Yatra, French NGO that complained against Rafale in France and the demand to remove Akshaya Patra from midday meals contract

Activist opposing Akshaya Patra’s mid-day meal contract thinks ‘Brahmins obstruct India’s development’

The Akshaya Patra has come under criticism recently for not including onion and garlic in its mid-day meals for school children.

All you need to know about Congress’ Chhattisgarh CM elect: Bhupesh Baghel, who was once jailed in sex CD case

Congress leader and Chhattisgarh CM elect Bhupesh Baghel is currently out on bail in sleaze video case

Zee News issues defamation notice of Rs 1000 crore to Congress leader Navjot Singh Singh

Sidhu had allegedly threatened the Zee News when he had said “nani yaad dila denge” after Zee News had shown a video ‘Pakistan Zindabad’ slogans were raised at an election rally

Rajasthan Police ends up declaring a true incident as ‘fake news’ on Twitter

In a video being widely shared, a person can be heard complaining about 'Aurangzeb Rule' in Rajasthan and the people sharing the video claim it is from Utambar, Rajasthan.

#GoBackSonia trends on Twitter ahead of Sonia Gandhi’s Tamil Nadu visit to inaugurate Karunanidhi’s statue

Twitter is abuzz with #GoBackSonia trend as Sonia Gandhi is going to Chennai to inaugurate the statute of DMK founder Karunanidhi.

Prashant Bhushan and left-liberal cabal was actively helping Vijay Mallya in UK court by attacking CBI special director Rakesh Asthana

Vijay Mallya's defence team was using Indian left-liberals' allegations agaist Rakesh Asthana in London court

Pakistan uses Congress leader and ‘liberal’s’ arguments to undermine PM Modi yet again

Aiyar, who is known to make controversial statements, spoke about the 'Rafale scam' and how it has dented Prime Minister Modi's clean image in India. He also claimed there was rampant corruption within the NDA government.

The Prince and his dilemma: A short story

The prince wanted to choose buddy boy Jo, for he was a fellow prince too.

Latest articles

Connect with us

125,755FansLike
98,173FollowersFollow
6,353SubscribersSubscribe

Don't miss these