NDTV to sell part of subsidiary to landlord, to pay outstanding rent

Media house NDTV seems to be in some tumultuous times. Late last year it was revealed that NDTV was laying off around 25% of its workforce via a “turnaround plan” which would see them go for a much “leaner operation” than before.

Today, NDTV informed the bourses via a regulatory filing that it had approved the sale of a part of their subsidiary, to their landlord. The filing further stated that this plan was approved at the last meeting of the Board of Directors and that the sale proceeds would be used to pay the outstanding rent.

In the filing, NDTV revealed that it had approved the sale of up to 7.38% stake of the Company @ Rs. 59,824/- per Equity share in Red Pixels Ventures Limited (RPVL), a subsidiary of NDTV, to A R Chadha And Co (India) Private Limited, the landlord of the office premises in New Delhi.

- Advertisement - - Article resumes -

This sale comes barely a year after they had approved the sale of its Indian wear e-commerce firm NDTV Ethnic Retail to Nameh Hotels & Resorts.

In December last year. NDTV’s editorial director had indirectly revealed at least one of the reasons for the financial stress NDTV is facing. A senior journalist with NDTV and wife of Congressman Sonia Singh had taken to social media to tweet that NDTV was not getting any “official” ads. If indeed “official ads” refers to Government ads, then the claim that they have stopped, and this has caused financial stress, meant that NDTV was running on the revenue of such ads for the past few years, including UPA’s tenure.

As per an RTI reply, The Government of India had paid a whopping Rs 15.33 crores as advertisement expenditure to NDTV and its group companies from 01/05/2014 to 30/06/2016. It is not known if anything had drastically changed since then:

As per the latest viewership numbers, NDTV is still languishing at a distant fifth in the top 5 English news channels

Besides the plummeting popularity, NDTV has other woes as well. The CBI is hot on the heels of the founders of NDTV, the Roy’s, for alleged bank fraud. The SEBI too had recently fined NDTV  for certain disclosure lapses. The Income Tax Department too is after the company for tax evasion. All in all, no acche din here.

Share and Support:
Support OpIndia by paying for content

Most read articles recently

‘Will not develop areas which did not vote for me’: Rajasthan Congress MLA shortly after winning

Rajender Singh Bidhuri fought and won a close battle against BJP MLA Suresh Dhakad with a margin of 1661 votes.

Here is why BJP lost elections, and of course, it was deliberate

What BJP supporters need to realise is this - no political party ever wants to lose and least of all, a party led by the two most politically aggressive politicians the country has ever seen.

Ranchi: Court summons Rahul Gandhi for his defamatory remarks against Amit Shah

The petitioner submitted that the statement by Rahul Gandhi against Amit Shah had hurt his sentiments and tarnished the image of the party.

India cannot turn into Islamic Nation, only Modi can understand gravity and do needful: Meghalaya HC

There should be uniform law for all Indian citizens, and anybody opposing the Indian laws and constitution cannot be considered as citizens of the country, Meghalaya High Court noted

BJP has lost the digital and social media edge, but it is not too late to recover

Talented supporters are BJP's key asset. If things start moving now BJP will be able to recover the edge lost by 'IT cell'. The time to act is now.
Modi government vindicated, SC says Rafale Deal clean

SC verdict on Rafale deal: Read scathing comments made by Court while dismissing petitions for inquiry

Supreme Court dismissed petitions for an enquiry into Rafale deal pricing, offset partner selection and procurement procedure. Read scathing observations

Congress friendly journalist wishes death upon BJP Delhi spokesperson Tajinder Bagga

During the run-up to Gujarat assembly elections last year, Trivedi was caught spreading morphed images with Amit Shah's fake quotes on Patidars

Priyanka Gandhi part of selection process of Congress CM in the state where her husband faces probe

Priyanka Gandhi's husband, Robert Vadra, was recently summoned for the third time by the Enforcement Directorate in the Bikaner land deal money laundering case after he missed the first two.

For all his angst against Adani, Rahul Gandhi chose Kamal Nath who rallied behind Adani for power plant in Chhindwara

Kamal Nath is believed to be close to Gautam Adani, whom Rahul Gandhi has frequently accused of being a 'crony capitalist'

BJP’s real woes: Lessons from the electoral semi-finals

The prolonged silence of Prime Minister Narendra Modi and BJP President Amit Shah on election results was very telling. The results were clearly unexpected and possibly led to prolonged internal discussions on the future course of action.

Latest articles

Connect with us


Don't miss these