LMIL reverses salary cuts effective 1 September

Chairman Aroon Purie informs employees, thanks them for working through the crisis

Mumbai: In a piece of good news for the employees at Living Media India Ltd (LMIL), founder and chairman Aroon Purie has announced the organisation’s decision to reverse the salary cuts imposed last year amid the pandemic.

Apart from the over and above the Ex-Gratia Award given recently, the salary reductions for all the staff will be reversed, effective 1 September 2021, informed Purie in a letter written to the entire staff.

Purie said the reduction of salaries in June 2020, was the “most painful decision” that he had to make in the 46 years he has worked in India Today, which is published by LMIL. “As you know, even before the pandemic, the magazine industry was under severe stress. With the economy contracting, advertising, our primary source of revenue, virtually collapsed, plus distribution was impacted due to corona lockdowns. The only way to survive was to reduce costs,” he wrote.

Purie also thanked his employees for working through the crisis undeterred, and ensuring that the magazine did not miss a single issue, and maintain the quality at the same time.

“You have shown courage, resourcefulness, forbearance and ingenuity. While we are nowhere near pre-COVID levels, or expect to be there in the foreseeable future, we must move on and adjust to a new reality. I have faith in our strong brands, content, our team's belief in the magazine and our will to succeed,” he wrote.

Purie highlighted that despite the churn in the media landscape, magazine stories have a profound and lasting impact. “Advertisers see that too. I hope more will. The good times will return. They have to. We will all then progress and prosper with our magazines,” he added. 

Latest Reads
Zeel-Invesco tussle: Bombay HC directs Zeel to call for EGM

Mumbai: The Bombay high court asked Zee Entertainment Enterprises Ltd (Zeel) to call for the extraordinary general meeting (EGM) requisitioned by Invesco Developing Markets Fund on Thursday. Zeel must inform the court of the EGM date by Friday morning.

Television TV Channels GECs
July-Sept TV ad volumes show highest spurt in 2021: Barc

Mumbai: Ad volumes on television continue to post healthy growth, with the July-September quarter registering 461 million seconds of advertising – which is the highest this year, as per Broadcast Audience Research Council (Barc) India’s July-September 2021 Ad Volumes - Special Festival Edition...

Television TV Channels Viewership
IN10 Media’s Gubbare supports child education with Smile Foundation

With the education of children impacted by the pandemic, IN10 Media Network’s kids channel Gubbare has joined hands with leading non-government organisation Smile Foundation to support its Shiksha Na Ruke campaign.

Television TV Channels News Broadcasting
Media tome throws light on the biz growth pre and post pandemic

The Indian media business is estimated to be a $19 billion industry in 2021, according to veteran business journalist Vanita Kohli-Khandekar. On 20 October, Khandekar inaugurated the fifth edition of her book ‘The Indian Media Business: Pandemic and After’ published by Sage Publications India at a...

Television TV Channels News Broadcasting
Aaj Tak Bangla's Durga Puja coverage goes beyond food and pandal hopping

Durga Puja is the time of the year that puts Bengal on the global itinerary of culture and festivities. For Bengal, Durga Puja is not just a festival but also a celebration of art, history, heritage, and homecoming.

Television TV Channels Regional
NTO 2.0: Times Network publishes new RIO

Mumbai: Times Network has published its reference interconnection offer (RIO) issued under telecommunications (broadcasting and cable) services interconnection (addressable systems) regulations, 2017 for all distribution platforms. The new RIO will be effective from 1 December onwards.  The tariffs...

Television TV Channels News Broadcasting
Red FM launches ‘Totka Chalao, India Ko Jeetao’ campaign for World Cup

Mumbai: Radio and entertainment network 93.5 Red FM has kick-started its World Cup campaign called ‘Totka Chalao, India Ko Jeetao.’ The campaign will be rolled out in 40 key markets across the country. Capturing the passion and craze of fans, Red FM will celebrate the ‘totkas’ and will have RJ’s...

Television TV Channels Music and Youth
AR Rahman returns as BAFTA Breakthrough India ambassador

Mumbai: The British Academy of Film and Television Arts (BAFTA) has announced AR Rahman as the Breakthrough India ambassador for another year as they invite a new round of applications in India for the programme. Supported by Netflix, this programme will be open for prospective talent across the...

Television TV Channels News Broadcasting
TV9 Network appoints Anshuman Tiwari as editor, Money9

Mumbai: TV9 Network has strengthened the leadership of TV9 Digital and appointed Anshuman Tiwari as editor of Money9. Veteran journalist Rakesh Khar will assume a larger role as business and economy editor of the network. Tiwari is a recipient of the Ramnath Goenka Award, the WAN-INFRA...

Television TV Channels People

Sign up for our Newsletter

subscribe for latest stories

* indicates required