GECs
Times Television Network, TheOneAlliance terminate distribution alliance
MUMBAI: When the Telecom Regulatory Authority of India (TRAI) came out with its regulation on the fate of the content aggregators, the industry did predict that many networks could now move out of the current distribution ventures. And clearly they weren’t wrong.
The first to move out of the joint venture was Star India and Zee TV as they announced the disbanding of MediaPro and setting up of their independent cable TV affiliate distribution teams. If this wasn’t enough, MediaPro also decided to not renew its distribution deal with New Delhi Television (NDTV) with effect from 1 April and Media Content & Communications Services (MCCS) and MGM programming Service India (MGM) with effect from 16 April. As a result of this, NDTV (NDTV India, NDTV 24×7, NDTV Good Times and NDTV Profit), MGM (MGM) and MCCS (ABP News, ABP Majha and ABP Ananda) decided to distribute their respective channels through their own independent affiliate teams.
While this was just the beginning, now through a public notice published in the leading newspapers, Times Television Network has informed the stakeholders, that starting 1 April, the network will no longer be distributed by the content aggregator TheOneAlliance. “MSM Discovery has ceased to distribute the Times channels effective 1 April,” reads the public notice.
“This is to inform all concerned that with effect from 1 April 2014, Times Global Broadcasting Company Limited (TGBCL) is the sole and exclusive distributor for the television channels namely, Romedy Now, Romedy Now+, Zeem, ET Now (of Bennett, Coleman & Co.), Movies Now (of Zoom Entertainment Network) and Times Now (of Times Global Broadcasting Co.) all forming part of the Times Television Network,” adds the notice.
With this, the channels will now be distributed solely and exclusively by TGBCL that will undertake all activities that are necessary, ancillary and incidental for effectively distributing the channels throughout the country.
TGBCL will also be responsible for collection of subscription revenue for the channels, through the distribution platforms comprising analogue cable, digital cable, DTH, IPTV, HITS, OTT, 4G and new emerging digital technology platforms, hotels and commercial establishments and marketing and channel penetration activities.
GECs
Sahara One reports financial results, notes director exit and business realignment
Muted revenues, steady expenses and strategic adjustments shape company’s current phase
MUMBAI: In a tale where the sands seem to be slipping faster than they can be gathered, Sahara One Media and Entertainment Limited has reported another quarter of wafer-thin income and widening losses, even as a boardroom exit adds to the unease.
The company informed the Bombay Stock Exchange that its board, in a meeting held on April 4, approved its unaudited financial results for the quarter ended September 30, 2025. The numbers paint a stark picture. Total income for the quarter stood at just Rs 0.13 lakh, unchanged sequentially and sharply down from Rs 0.26 lakh a year earlier.
Losses, meanwhile, deepened. The company posted a net loss of Rs 24.16 lakh for the quarter, compared to Rs 18.81 lakh in the June quarter and Rs 39.69 lakh in the same period last year. For the six months ended September 2025, the cumulative loss stood at Rs 39.69 lakh, while the full-year loss for FY25 was reported at Rs 60.72 lakh.
Expenses continued to outweigh income by a wide margin. Total expenses for the quarter came in at Rs 24.30 lakh, led by employee benefit costs of Rs 6.51 lakh and other expenses of Rs 17.78 lakh. Earnings per share remained in the red at Rs (0.11) for the quarter.
The balance sheet reflects a company with significant assets on paper but limited operational momentum. Total assets stood at Rs 23,065.57 lakh as of September 30, 2025, broadly unchanged from March 2025. Equity share capital remained steady at Rs 2,152.50 lakh, while total equity was reported at Rs 18,004.85 lakh.
Cash and cash equivalents saw a modest uptick to Rs 6.75 lakh from Rs 4.68 lakh earlier, supported by a positive operating cash flow of Rs 180.01 lakh for the period.
Yet, beneath these numbers lies a more complex narrative. The company’s auditors flagged their inability to obtain sufficient evidence to form a conclusion on the financial statements, citing lack of access to records. They also raised concerns over the company’s ability to continue as a going concern, pointing to insufficient funds, delayed recoveries, and stalled content investments.
Adding to the governance overhang, the company disclosed that Rana Zia has resigned as whole-time director, effective October 16, 2025, citing other professional commitments. The resignation, noted and accepted by the board, also brings an end to her role across company committees.
Regulatory pressures continue to loom large. The Securities and Exchange Board of India has already initiated penal actions for non-compliance with listing norms, with trading in the company’s shares remaining suspended. There is also a risk of promoter demat accounts being frozen.
Legacy legal issues remain unresolved. A substantial deposit of Rs 694,027.88 thousand linked to the long-running OFCD dispute involving Sahara group entities is still under the purview of the Supreme Court of India. Restrictions on asset disposal continue to weigh on the company’s financial flexibility.
Operationally, challenges persist across multiple fronts. Advances worth Rs 1,92,916 thousand given for film content remain stuck, with delays in project completion and uncertain recoverability. The company’s YouTube channel, despite being operational, has generated no revenue for over three years due to compliance lapses. In a further twist, management has indicated that revenues may have been fraudulently diverted through unauthorised changes to its AdSense account, with a police complaint in the works.
There are also missed revenue opportunities. Television content rights continue to be used by a related party despite the expiry of the licence agreement, with fresh negotiations still underway.
For now, Sahara One Media and Entertainment Limited appears caught between legacy disputes and present-day operational hurdles. As losses linger and governance questions mount, the road to recovery looks less like a sprint and more like a slow trudge through shifting sands.
