News Broadcasting
Zee Media brings DNA under its fold
MUMBAI: It was in early 2012 that the Subhash Chandra owned company Essel Group bought out its Joint Venture (JV) partner D B Corp’s 50 per cent stake in the English national newspaper DNA, cementing the media baron’s presence in the print media. Now, it has taken a long leap again. In a recent announcement to the Bombay Stock Exchange (BSE), Zee Media Corporation Limited (ZMCL) announced its intention to venture into the print media business with the amalgamation of Essel Publishers that brings out DNA and itself.
Following a postal ballot held between 30 October and 28 November, 95.46 per cent or 652 people out of 683 shareholders were in favour of the amalgamation.
“Having already built a nationwide largest television news network with its varied news channels, with an object of creating a news powerhouse in the country, Zee Media aspires to expand its product offering across multiple platforms, regions and languages,” read the document to investors on the amalgamation scheme.
And it was in keeping with Zee group chairman Subhash Chandra statement in a release a while ago that the company is on a mission to consolidate its broadcast, print and internet content under one umbrella.
According to ZMCL CEO Alok Agrawal, the merger process has just begun and will take a year to complete. And the net result (says the document sent out to shareholders following which they gave the fusing of the two firms the nod) will be that : “Zee Media will be in a position to leverage the combined network of resources, working in an integrated newsroom through multiple platforms as well as providing a bouquet of services to advertisers which would strengthen its market reach.”
“Stories will be shared across the two mediums thus allowing English, Hindi and other regional languages to benefit from each other,” says Agrawal. With this move, ZMCL employees will be also be multi-tasking just like in other efficiently run media organisations the world over.
At the same time, it means additional work as well. “Employees will get cross exposure now. Those who accept the challenge will prosper and those who don’t will falter. That’s the law of the land,” remarks Agrawal.
Since 2009, the management of DNA has been handled by the Essel Group with Malcolm Mistry as the current CEO. The integrated newsroom will take some time to evolve. Initially, the focus will be on evaluating the requirement for separate offices for the two media entities, consolidating the teams wherever possible in various cities nationally, and in the process generate savings.
ZMCL has its eye set firmly on expanding DNA by launching new editions in newer towns in phases. DNA is currently published from Mumbai, Pune, Ahmedabad, Jaipur, Indore and Bengaluru. Delhi would be the next target;however, Agrawal says it will take some time as Delhi is a very competitive market with The Times of India and The Hindustan Times fiercely battling each other.
According to the Indian Readership Survey 2012 Q4 topline findings the circulation of DNA was 972, 000. The number may well have gone up significantly since then.
Was it easy to convince shareholders about the expansion plans? “The overwhelming response we got was surely a bit of a surprise but they saw the good opportunity. As a TV channel, our reach was limited and the amalgamation makes it more holistic and well rounded,” explains Agrawal. ZMCL claims that its bouquet of six channels in the news space reach out around 130 million viewers.
The deal proposed to shareholders was that for every 11 shares of Re 1 each held in Essel Publishers, 2 shares of Re 1 each from ZMCL would be issued and allotted. But no shares would be given for fractional entitlements. Post the announcement, the market value of ZMCL’s share saw a spike and at the time of filing this report it was quoting at Rs 14.04 on the BSE.
The authorised share capital of Essel Publishers and ZMCL put together has been enhanced to Rs 170 crore with Rs 70 crore from Essel Publishers and Rs !00 crore from ZMCL.
The amalgamation scheme became effective from 3 December and thus Essel Publishers now stands dissolved without being wound up. And all the newspaper staff have henceforth become ZMCL employees.
ZMCL’s financial result for Q2 2014 showed that advertising and subscription revenues were higher than the previous quarter. Total revenue for Q2 2014 was Rs 160.7 crore with ad revenue at Rs 52.92 crore and subscription revenue at Rs 24.9 crore. PAT stood at Rs 2.8 crore while EBIDTA stood at Rs 74.8 crore.
News Broadcasting
CNN-News18 to air live counting day coverage for five state election results on May 4
The channel is rolling out its biggest election coverage machinery yet for results day on 4th May
NOIDA: The votes have been cast. Now comes the reckoning. CNN-News18 is pulling out all the stops for results day on 4th May, when counting begins across five battleground states — West Bengal, Assam, Kerala, Tamil Nadu and the Union Territory of Puducherry — in what promises to be one of the most closely watched electoral verdicts in recent memory.
The channel’s coverage, titled Battle for the States: The Verdict, kicks off at 7am and runs through the day across linear TV, connected television and YouTube. It is the culmination of CNN-News18’s multi-format editorial initiative, Battle for the States, which has tracked the polls from the beginning under the theme Road to Power.
At the operational heart of the coverage will be the Live Results Hub, the channel’s central command centre built to collate, verify and process real-time data flowing in from reporters stationed at counting centres across constituencies. The hub combines newsroom intelligence, analytics and on-the-ground reporting to deliver what the channel promises will be the fastest and most accurate results coverage in English news.
Leading the on-air charge will be primetime anchors Rahul Shivshankar, Anand Narasimhan, Aman Sharma, Nabila Jamal and Shivani Gupta. They will be joined by a wide panel of commentators including author Chetan Bhagat; GVL Narasimha Rao, senior leader of the BJP; Smita Prakash, editor of ANI; activist Saira Shah Halim; political analyst Sumanth C Raman; Abhijit Iyer Mitra, senior fellow at IPCS; Amitabh Tiwari, founder of VoteVibe; columnist Abhijit Majumdar; Nalin Mehta, managing editor of MoneyControl; political analyst Tehseen Poonawalla; senior journalist Subir Bhaumik; and political analyst Manojit Mandal.
Shivshankar, who serves as editorial affairs director at CNN-News18, set out the stakes plainly. “Counting day is one of the most watched events in the electoral cycle, where speed and credibility are tested in real time,” he said. “Battle for the States: The Verdict is built on that promise, combining ground reporting, sharp analysis and cutting-edge election technology to give viewers the clearest and fastest route to the verdict. On May 4, CNN-News18 will once again be the nation’s most trusted channel to witness democracy in action.”
Smriti Mehra, chief executive of English and Business News at Network18, framed the coverage in broader terms. “Elections are defining national events, and audiences turn to brands they trust in moments that matter,” she said. “CNN-News18 has consistently led from the front in every election coverage, and this special programming reflects the scale of our ambition and editorial strength.”
The channel has form here. It claims to have been India’s most preferred English news destination for election results for the past 20 years, covering everything from the 2024 general elections to the Delhi, Maharashtra, Bihar and BMC polls on the back of what it calls an “Always First, Always Right” record. Five states, one day, and a nation waiting for answers. The clock starts at 7am on 4th May.
