GECs

The parallels between Rupert Murdoch and Essel group’s Subhash Chandra

Published

3 years ago

June 18, 2023

Mumbai: Rupert Murdoch and Subhash Chandra. Two media barons, who are gutsy and un-put-downable. Each is a pioneer in his own way. Chandra for flagging off the Indian cable and satellite TV revolution in India with Zee TV, and later for drawing the path for many others who followed. Murdoch for building a global print media behemoth, fighting the newspaper unions in the UK, and winning, And then for setting up a television and movie empire which he finally hawked to Disney.

But both have another thing in common. Murdoch nearly lost control over News Corp in 1990 when his urge to splurge meant he over-leveraged his company and had to convince more than 146 bankers all over the world not to call in the loans and agree to his plan on restructuring the debt. Even then, a small outfit, the Pittsburgh National Bank, which had lent a $10 million loan to News Corp, held out and threatened to stymie the plan, which could have triggered the collapse of the whole plan. Murdoch and one of the main lenders Citibank’s Ann Lane flew down and managed to get the bank’s favour and Murdoch’s baby survived. And later of course it thrived, making good on all the debt.

Chandra shares quite a few parallels with Murdoch. He and his family have lost majority holding in Zee Entertainment Enterprises Ltd (Zeel) And his plan to save his empire by merging with Sony in India looks to be in trouble with the Securities Exchange Board of India (Sebi) ordering him and his son Punit Goenka to hold no executive positions in Zeel. The allegation is that he misappropriated funds to the tune of Rs 200 crore by taking a circuitous route through various companies to repay Yes Bank. Something unpardonable according to corporate governance norms. This could spell trouble for the Sony merger as conditions require Punit to be at the helm of the merged entity.

In Murdoch’s case, he had asked the lending consortium to include $800 million in loans in the debt restructuring package. That had been used for a private company, Queensland Press, controlled by him and his family. Some bankers were not in favour, but Murdoch finally prevailed.

Moving on to Zeel, observers are questioning if there are any machinations behind Sebi’s announcement regarding the divestiture of executive power from Chandra and Punit.

“Why was this announced just days before the NCLT hearing to finalise the merger,” asks an investment analyst. “Isn’t there something fishy? Obviously, bigger and stronger forces are at play here. The group seems to be under attack from vested interests.”

On his part, the goateed entrepreneur, says he has repaid more than Rs 40,000 crore in loans to various banks and institutions over the past three to four years.

Speaking to Zee Business recently, he said that he has sold the Essel group’s crown jewels to square off a large part of the borrowings. “I know I have to clear my debts and I have no problems selling assets to pay back. We expected to be in the clear by 31 March 2023, but the sale of some assets did not happen or it is in process. I will fold my hands and pay those three or four parties to whom we still owe money.”

According to Chandra, many other industrialists have huge loans and have at times found it a challenge to repay them but they don’t come into the limelight like his group has. “Everyone faces challenges. Some run away. Only the courageous stand up and fight them. I belong to the latter and I will overcome the situation.”

Chandra told the channel that he has given personal guarantees after January 2019 and he has gone so far as to even mortgage his own home to repay some of the debt.

“95 per cent of the lenders have supported us. It’s all about business. We have given them interest over the years, and they have gained quite a lot. Now, we have some losses. And most have stood by us. One or two lenders are insisting on us making good the losses. I am willing to do so up to a limit. But not all of it. When I have money in the future, I will even do that. I am a virtuous businessman and over the decades the Essel group has repaid debt amounting to Rs 50,000 crore, so why are we talking about smaller amounts?” he asked putting on a brave face.

He also said that he was no longer involved in the day-to-day running of Zeel and that both Amit and Punit were in charge there.” Hence, I cannot answer when the merger will happen or where it is at currently,” he said. “I know it’s been delayed and it should have happened sometime back.”

Will Chandra and his fighting spirit see the Essel group, Zeel, the merger with Sony and his sons Punit and Amit through? And will he be able to repeat what Murdoch managed in 1990 and beyond?

It will require more than a magician’s wand to do so, but going by his and his sons’ track record and the confidence that the Sony management has shown in the group, he well might. Watch this space.

GECs

Sun TV posts steady revenue, profit dips amid rising costs

Published

1 week ago

February 7, 2026

indiantelevision.com Team

CHENNAI: It appears there is still plenty of Sun to go around in the Indian broadcasting landscape, even if a few clouds have drifted across the financial horizon. Sun TV Network Limited, the Chennai-based behemoth that dominates airwaves across seven languages, has tuned into a steady frequency for the quarter ending 31 December 2025. While the numbers show a resilient revenue stream, the company’s latest broadcast reveals a few static-filled spots in its profit margins.

For the quarter in question, Sun TV’s total income climbed by approximately 3.31 per cent, reaching Rs 958.39 crores compared to Rs 927.66 crores in the same period last year. Revenue from operations also saw a healthy bump, rising 4.32 per cent to Rs 827.87 crores.

The real star of the show, however, was domestic subscription revenue, which surged by 8.86 per cent to Rs 472.99 crores. This growth highlights the enduring appetite for Sun’s diverse content, which spans everything from daily soaps in Tamil and Telugu to its burgeoning OTT platform, Sun NXT.

Despite the revenue growth, the picture quality of the profits was slightly blurred by rising costs. Eitda for the quarter stood at Rs 409.79 crores, a dip from the Rs 432.14 crores recorded in the corresponding 2024 quarter.

The profit after tax followed a similar downward trend, settling at Rs 316.44 crores against the previous year’s Rs 347.17 crores. Advertisers also seemed to have switched channels slightly, with advertisement revenues sliding to Rs 291.94 crores from Rs 332.17 crores.

Sun TV isn’t just playing on home turf; its sporting ambitions are becoming increasingly global. The network now owns three major cricket franchises: SunRisers Hyderabad in the IPL, SunRisers Eastern Cape in SA20, and SunRisers Leeds Limited in The Hundred (UK).

The foray into British cricket saw the company acquire a 100 per cent stake in Northern Superchargers Limited (now SunRisers Leeds) for approximately £100 million. While these franchises brought in Rs 14.61 crores this quarter, they also incurred corresponding costs of Rs 19.89 crores. Over the nine-month period, however, the cricket business is a major player, contributing Rs 487.64 crores in income.

The company’s bottom line took a minor hit from exceptional items, including a Rs 4.23 crore charge related to India’s new Labour Codes, which consolidated 29 existing labour laws. Additionally, the consolidated results reflect the amalgamation of Kal Radio Limited with Udaya FM, a move that became effective in May 2025 and required a restatement of previous figures.

To keep investors from reaching for the remote, the Board has declared an interim dividend of 50 per cent, that’s Rs 2.50 per equity share. This comes on top of earlier dividends of 100 per cent (Rs 5.00) and 75 per cent (Rs 3.75) declared in August and November 2025, respectively.

With a massive cash reserve and a dominant position in the South Indian market, Sun TV continues to shine, even if the current quarter required a bit of fine-tuning. For now, shareholders can sit back, relax, and enjoy the show.

GECs

SPNI hires Pradeep M with responsibility for standards and practices in the south

Published

2 weeks ago

February 3, 2026

indiantelevision.com Team

MUMBAI: Sony Pictures Networks India has hired Pradeep M to handle standards and practices for its southern market, bolstering its compliance bench as content rules tighten across platforms.

Pradeep, who has nearly 13 years in the entertainment media industry, takes on responsibility for content standards in a region that is both linguistically diverse and regulatorily sensitive. His brief spans television, OTT, sports and digital platforms.

He specialises in content review and compliance across shows, commercials, on-air promotions and international feeds, ensuring alignment with broadcast, OTT and advertising codes. He has also handled brand approvals and sponsorship integrations for heavily regulated categories—including online gaming, cryptocurrency, NFTs and lottery brands—offering guidance shaped by fast-evolving rules.

Before Sony, Pradeep worked at Jiostar as assistant manager for content regulation from November 2024 to January 2026. Earlier, he spent nearly seven years at Viacom18 Media, rising from senior executive to assistant manager in content regulation between 2018 and 2024. There he served as a key compliance touchpoint for the network.

His career began on the creative side. Between 2013 and 2018, he worked as executive producer on feature films and television shows, gaining hands-on exposure to production. He also had a stint as a non-fiction show director at Star TV Network in 2017. That mix of creative and regulatory experience gives him a dual lens—how content is made and how it must be managed.

As regulators, platforms and advertisers all tighten the screws, broadcasters are investing more in gatekeepers who can keep creativity within the lines. Sony’s latest hire shows where the industry is heading: in the streaming age, compliance is content’s quiet co-star.

GECs

Colors Gujarati rolls out two new shows from 2nd February

Published

2 weeks ago

February 2, 2026

indiantelevision.com Team

MUMBAI: Colors Gujarati has unveiled two new prime-time shows as part of its push to strengthen culturally rooted storytelling for regional audiences. The channel will premiere the devotional saga Gangasati–Paanbai at 7.30 pm, followed by the romantic family drama Manmelo at 9.30 pm from February 2.

Inspired by Gujarat’s spiritual and literary heritage, Gangasati–Paanbai: Shyam Dhun No Navo Adhyay draws from the timeless bhajans and poetry of saint-poetesses Gangasati and Paanbai, weaving devotion and human values into a contemporary narrative aimed at younger viewers.

In contrast, Manmelo explores love and responsibility across social divides, tracing the lives of three middle-class sisters whose relationships with three affluent brothers reshape their futures. The show delves into ambition, emotional conflict and the realities of married life, offering a layered family drama.

A Colors Gujarati spokesperson said the new launches reflect the channel’s commitment to authentic Gujarati entertainment that blends cultural values with modern storytelling.