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Asianet News (formerly Asianet Global) is a Malayalam-language news channel from Asianet News Network (ANN). Asianet News Network operates as a subsidiary of Jupiter Entertainment Ventures (Jupiter Capital Ventures).^[1] The channel is based in Thiruvananthapuram (Kerala).^[2][3]

Amit Gupta is the current CEO of Asianet News Network (ANN) and Asianet News Media and Entertainment.^[2][3] Amit Frank P Thomas is the Director and Business Head of Asianet News Network (ANN), M G Radhakrishnan is the current Editor-in-Chief of Asianet News Malayalam Network and Kaushik Ghosh is the Chief Revenue Officer of Asianet News Network (ANN).

As per Jupiter Capital, the channel is the market leader in Malayalam television news sector.^[4]

• 1History

History[edit]

The Asianet channel company and Asianet cable company were promoted by Sashi Kumar with seed capital provided by Reji Menon. Kumar was a former head of Press Trust of India's television division and his relative Menon was a Moscow-based businessman.^[5]

Origins[edit]

Asianet Communications was toying with the idea of a news channel - there was none in Malayalam - for a long time.^[6][7] It was with this intention that Asianet Global - their second channel - was launched in June, 2001. The channel was targeting the huge expatriate Malayali population in the Middle East and Europe. However, as it turned out, there were very few news-based programmes in the channel and most of it later gave way to film-based entertainment programmes.^[7][6]

With Asianet Global not fetching returns, the management decided to go in for an entertainment channel called 'Asianet Plus' and terminate Asianet Global. Midway through the launching and wind up process, there was a rethink and the concept of a news channel was revived.^[6][7] It was initially reported in the media that the a news channel will be launched by December 2002. The channel was expected have news programmes in the evenings after which there would be a variety of entertainment programmes. Hourly news bulletins were also expected.^[6] Asianet Global was eventually renamed as 'Asianet News' on 1 May 2003.^[6] Company MD K Madhavan told the media that the entire channel had also been restructured in the process.^[7]

Exit of Sashi Kumar[edit]

When Asianet channel company and Asianet cable company faced a financial crunch, the real estate firm Rahejas was given 50% stake in the cable operations. The channels were still owned by Sashi Kumar (50% shares) and Reji Menon (50% shares).^[5] The Rahejas later wanted a stake in the channel operations too. While Kumar resisted overtures from the Rahejas, Menon negotiated a deal with them, and under the deal, the Rahejas got full control over the cable company. Menon used the consideration the Rahejas paid him to provide Kumar a 'golden handshake'.^[5]

Kumar's exit from Asianet created a sense of loss in the Marxist leadership. The party soon started promoting a company to set up an alternative Malayalam channel.^[5]

Afterwards an attempt by Zee Group to acquire Asianet from Menon fell through. This was apparently because the severance agreement with the cable company prohibits the channel's takeover by a company with interest in cable operations.^[5]

Rajiv Chandrasekhar era[edit]

It was in February–April 2006 the first speculations about Rajeev Chandrasekhar's interest in Asianet broke out. Chandrasekhar was a Bangalore-based businessman of Kerala origin. In late 2006 Menon - after months long speculations - partially pulled out of Asianet turning over control to Chandrasekhar.^[5] At the time, Asianet was the leader amongst the Malayalam channels accounting for 35% of Kerala's total advertisement market.^[8]

Chandrasekhar had acquired a 51% stake in the Asianet channels (Asianet, Asianet News, and Asianet Plus) through Jupiter Entertainment Ventures (JEV) in October 2006. While there was no official word from Asianet on the size of the investment, the figure is thought to range between INR 120-150 crore. The remaining 49% stake was still held by Menon and Asianet MD K Madhavan with Zee Group holding a small 3% stake. Madhavan continued as the MD of Asianet, while Chandrasekhar took over as the Chairman of the company.^[8] JEV soon launched its foray into Kannada and Telugu television industry.^[5][8]

STAR India acquisitions[edit]

Asianet was restructured into four companies in June 2008 (general entertainment, news, radio and media infrastructure). This move was to allow separate investments in each company.^[9]STAR India started talks with the owners of the Asianet channels in August, 2008.^[5] While the negotiations were going on, the CPI-Marxist leadership in Kerala famously called for 'a revolt against the entry of media mogul Rupert Murdoch's STAR TV network into the [Kerala] state'. The party called the move a 'cultural invasion'.^[5]

STAR India eventually bought a 51% stake in Asianet Communications (Asianet and Asianet Plus) and formed joint venture with JEV in November, 2008.^[10] The joint venture, called 'STAR Jupiter', comprised all general entertainment channels of Asianet Communications and Star Vijay. Star India had reportedly paid $235 million in cash for the 51% stake and assumed net debt of approximately $20 million.^[9][5] In the wake of media reports about the STAR takeover, Asianet Vice-Chairman Madhavan issued a media release saying: 'There is no basis for the speculation that the policies of the Asianet News Network (ANN) will fall under foreign [STAR] control'.^[5]

STAR India increased its stake in Asianet Communications to 75% in July 2010 (for which STAR India paid around $90 million in cash), and to 87%, by acquiring 12% stake for $160 million in June, 2013. The later move was by virtue of acquiring a 19% equity stake in Vijay TV from Chandrasekhar and Asianet Communications MD Madhavan. Following the June, 2013 investment, Asianet Communications was valued at $1.33 billion. STAR India acquired 100% stake in Asianet Communications (buying the remaining 13% stake) in March, 2014.^[9][10]

In 2016 Jupiter Capital was accused by the media of interfering with editorial freedom. The accusation was triggered by a leaked email sent from Jupiter Capital Chief Operating Officer Amit Gupta to editorial heads of Asianet News, Suvarna News, and Kannada Prabha.^[11][4] M G Radhakrishnan, Editor-in-Chief of Asianet News, told the media he was not aware of the email and that he had never faced pressure of any kind from the management.^[4][11]

Investments in Republic TV[edit]

Chandrasekhar is one of the largest investors in ARG Outlier, the parent company of the English-language news channel Republic TV. Chandrasekhar, through Asianet News Network, has invested over INR 30 crore in ARG Outlier.^[11][12] SARG Media Holding Private Limited (owned by Arnab Goswami himself) is other major investor in ARG Outlier.^[13][14]

Editorial freedom[edit]

Asianet News and Suvarna News are currently run by Asianet News Network (ANN). ANN operates as a subsidiary of Jupiter Entertainment Ventures (JEV), a subsidiary of Jupier Capital Ventures.^[3] As per the media critics, Asianet News enjoys a good 'reputation' among the news channels in Malayalam. It is often described as 'a widely trusted' brand and 'top player' in the Malayalam media space.^[4]

According to Jacob George, a prominent commentator, Asianet News has had a 'secular and progressive stance' since the time of its inception in 2003. In his opinion, the current editorial leadership at the news channel is 'not easily malleable' and has 'immense credibility'.^[4]

Channels and web portals[edit]

References[edit]

1. ^'Company Overview of Asianet News Network Private Ltd'. bloomberg.com. Retrieved 21 October 2018.
2. ^ ^ab'Archived copy'. Archived from the original on 24 September 2016. Retrieved 17 September 2016.CS1 maint: Archived copy as title (link)
3. ^ ^abc'Chinta Shyamsundar returns as CEO of Asianet News Network'. 29 May 2013. Archived from the original on 6 November 2018. Retrieved 2 October 2013.CS1 maint: BOT: original-url status unknown (link)
4. ^ ^abcdeNewslaundry. 'Newslaundry Sabki Dhulai'. Newslaundry. Retrieved 12 November 2018.
5. ^ ^abcdefghijk'Rupert Murdoch's grand takeover in Kerala'. Archived from the original on 6 November 2018. Retrieved 13 February 2014.CS1 maint: BOT: original-url status unknown (link)
6. ^ ^abcde
7. ^ ^abcd[2]
8. ^ ^abc[3]
9. ^ ^abc'STAR India acquires 100% Stake In Asianet Communications - MediaNama'. medianama.com. Retrieved 9 November 2018.
10. ^ ^abKulkarni, Raghuvir Badrinath & Mahesh (17 July 2013). 'Interesting tussle on to gain control of 'Kannada Prabha'' – via Business Standard.
11. ^ ^abc'Kerala NDA vice-chairman Rajeev Chandrasekhar investor, director in Arnab Goswami's Republic'. The Indian Express. 13 January 2017. Retrieved 12 November 2018.
12. ^Team, BS Web (13 January 2017). 'MP Rajeev Chandrasekhar biggest investor in Arnab Goswami's Republic?'. Business Standard India. Retrieved 12 November 2018.
13. ^Jha, Lata (2 April 2018). 'Rajeev Chandrasekhar resigns as Republic TV board director'. livemint.com/. Retrieved 6 November 2018.
14. ^'Rajeev Chandrasekhar resigns from Asianet's board'. The Hindu. Special Correspondent. 2 April 2018. ISSN0971-751X. Retrieved 6 November 2018.CS1 maint: others (link)