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Asianet (TV channel): Difference between revisions
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| headquarters = [[Thiruvananthapuram, Kerala]] | | headquarters = [[Thiruvananthapuram, Kerala]] | ||
| network = [[Asianet Star Communications]] | | network = [[Asianet Star Communications]] | ||
| founder = | | founder = Dr Raji Menon | ||
| launch_date = {{Start date and age|1993|08|30|df=yes}} | | launch_date = {{Start date and age|1993|08|30|df=yes}} | ||
| owner = {{Plainlist| | | owner = {{Plainlist| | ||
| Line 55: | Line 55: | ||
== Establishment == | == Establishment == | ||
The channel was originally promoted by | The channel was originally promoted by Dr. Raji Menon in 1993.<ref name=":16">{{cite web|url=http://www.sify.com/finance/rupert-murdoch-s-grand-takeover-in-kerala-news-news-jegwlxfefhj.html|title=Rupert Murdoch's grand takeover in Kerala|archive-url=https://web.archive.org/web/20181106163859/http://www.sify.com/finance/rupert-murdoch-s-grand-takeover-in-kerala-news-news-jegwlxfefhj.html|archive-date=6 November 2018|url-status=dead|access-date=13 February 2014}}</ref> In late 2006, Dr. Raji Menon partially pulled out of Asianet Communications, turning over control to [[Rajeev Chandrasekhar]] (Jupiter Entertainment Ventures).<ref name=":114">{{Cite news|url=https://in.reuters.com/article/idINIndia-36543120081117|title=Star buys majority in Asianet; forms JV with Rajeev Chandrasekhar|date=2008-11-17|work=Reuters|access-date=2019-07-27|language=en}}</ref> [[Star India]] bought a 51% stake in Asianet Communications and formed a joint venture with JEV in November 2008. In 2014, Star India took full ownership of Asianet Communications. | ||
== History == | == History == | ||
=== Established by Dr. Raji Menon in 1993 === | |||
Asianet Communications was the first entertainment television company in Malayalam. It was promoted by Dr. Raji Menon. | |||
Asianet’s story starts much earlier than in 1993, it starts in Moscow . Dr Raji Menon was a student there and Mr P.Unnikrishnan was the correspondent of PTI in Moscow. Dr. Raji Menon became a successful businessman based in Moscow and Mr P Unnikrishnan became the General Manager of PTI in India. When Mr Unnikrishnan initiated the idea of PTI TV, Dr. Raji Menon’s nephew Mr. Sashi Kumar was appointed. When the Central government scrapped Doordarsan’s monopoly, Mr Unnikrishnan was among the first to react and with Dr. Raji Menon they planned to start a National channel. Four of the leading newspapers and PTI itself, were to join in with Dr. Menon as the Chief promoter and Mr Unnikrishnan at the helm of the Channel ( after his retirement from PTI ). Dr. Raji Menon negotiated for a transponder on the Russian satellite Ekran, with a powerful beam over India, which meant that using a cheep spiral antenna the signal could be received all over India. In the absence of any cable connectivity in India, without the sanction to do terrestrial transmission, this was a good solution. The transponder was very costly, the satellite had the life span of two years and there were only two transponders on the satellite. | |||
Mr Unnikrishnan was terminally ill with lung cancer and now the whole idea was in a limbo. Mr Sashikumar and Mr Madhavankutty of Mathrubhoomi ( Delhi ) suggested tuning down the idea to a Malayalam Channel and Dr. Raji Menon agreed and the first Malayalam Channel was born . Asianet’s logo is a derivative of Dr. Menon’s company logo. Dr. Menon’s office in Chennai became Asianet’s head office. To address the issue of cable networking a separate company called Asianet Satellite Communications was formed. Mr P Bhaskaran the renowned poet was the figurehead chairman. Dr. Raji Menon being not full time in India , on his behalf Mr Sashi Kumar (Dr. Menon's nephew) was in charge. Asianet Communications was registered with Dr C P Chandrasekhar and Mr Sashi kumar as the first directors. Dr. Raji Menon bought Uma Studio from the famous Malayalam actor Mr Madhu and this became Asianet’s Puliarkonam Studio in Thiruvananthapuram. Mr Karunakaran the CM granted sanction to use the Electricity poles for cable networking. This was a mammoth effort. | |||
Dr. Raji Menon increased Mr Sashikumar's share from the initial 2% to 45% in stages (It was Dr. Menon's gift to his nephew). 5% of the equity was with Mr Raghu Nandan (Dr Menon’ elder brother). Dr. Raji Menon bought back the shares earlier given to Mr Sashikumar in 1999 at an agreed price, and took over full control of Asianet. | |||
Asianet started one more channel as Asianet Global on 6 July 2001 to cater to the Malayalees outside India, and this was later restructured into a News Channel. | |||
Asianet aired its first news bulletin starting 30 September 1995. Under an arrangement with the Russian embassy with the help of Dr. Ratheesh Nair, the Gorky Bhavan was repaired and taken over by Asianet. Asianet news operated from Gorky Bhavan from 2000. The central Government sanction for a full-fledged news channel took time and hence it was launched much later than planned on 1 May 2003. | |||
===Rajiv Chandrasekhar Era (2006–2008) === | ===Rajiv Chandrasekhar Era (2006–2008) === | ||
In late 2006 | In late 2006 Dr. Raji Menon partially pulled out of Asianet turning over control to [[Rajeev Chandrasekhar]]. At the time, Asianet was the leader amongst the Malayalam channels accounting for 35% of Kerala's total advertisement market. 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 Dr. Raji 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. Asianet Communications soon launched its foray into Kannada and Telugu television industry with [[Star Suvarna|Asianet Suvarna]] and Asianet Sitara. | ||
===Star India Acquisitions (2008–2014) === | ===Star India Acquisitions (2008–2014) === | ||
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.<ref name=":7">{{Cite web|url=https://www.medianama.com/2014/03/223-star-india-asianet/|title=STAR India acquires 100% Stake in Asianet Communications – MediaNama|website=medianama.com|language=en-US|access-date=2018-11-09|archive-url=https://web.archive.org/web/20190727115407/https://www.medianama.com/2014/03/223-star-india-asianet/|archive-date=27 July 2019|url-status=bot: unknown}}</ref> [[Star India]] started talks with the owners of the Asianet channels in August, 2008.<ref name=":16"/> | 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.<ref name=":7">{{Cite web|url=https://www.medianama.com/2014/03/223-star-india-asianet/|title=STAR India acquires 100% Stake in Asianet Communications – MediaNama|website=medianama.com|language=en-US|access-date=2018-11-09|archive-url=https://web.archive.org/web/20190727115407/https://www.medianama.com/2014/03/223-star-india-asianet/|archive-date=27 July 2019|url-status=bot: unknown}}</ref> [[Star India]] started talks with the owners of the Asianet channels in August, 2008.<ref name=":16"/> | ||
Star India eventually bought a 51% stake in Asianet Communications and formed joint venture with JEV in November, 2008.<ref name=":4">{{cite web|url=http://www.business-standard.com/article/companies/interesting-tussle-on-to-gain-control-of-kannada-prabha-113071701107_1.html|title=Interesting tussle on to gain control of 'Kannada Prabha'|last=Kulkarni|first=Raghuvir Badrinath & Mahesh|date=17 July 2013|work=Business Standard|access-date=28 July 2019|archive-url=https://web.archive.org/web/20190727115558/https://www.business-standard.com/article/companies/interesting-tussle-on-to-gain-control-of-kannada-prabha-113071701107_1.html|archive-date=27 July 2019|url-status=bot: unknown}}</ref> The joint venture, called "Star Jupiter", comprised all general entertainment channels of Asianet 8 October 2013 bombay 12 March Communications (Asianet, [[Asianet Plus]], Asianet Suvarna and Asianet Sitara <ref>{{Cite news|url=https://www.business-standard.com/article/companies/star-tv-buys-majority-in-jupiter-entertainment-108111601036_1.html|title=Star TV buys majority in Jupiter Entertainment|last=Reporter|first=B. S.|date=2008-11-16|work=Business Standard|access-date=2019-07-27}}</ref>) and [[Star Vijay]]. Star India had reportedly paid $235 million in cash for the 51% stake and assumed net debt of approximately $20 million.<ref name=":16" /><ref name=":7" /> It's not clear how much stake Menon held in the new Star Jupiter venture. Prior to forming the JV, it was known that the original founder had held about 26% stake.<ref name=":114"/> | Star India eventually bought a 51% stake in Asianet Communications and formed joint venture with JEV in November, 2008.<ref name=":4">{{cite web|url=http://www.business-standard.com/article/companies/interesting-tussle-on-to-gain-control-of-kannada-prabha-113071701107_1.html|title=Interesting tussle on to gain control of 'Kannada Prabha'|last=Kulkarni|first=Raghuvir Badrinath & Mahesh|date=17 July 2013|work=Business Standard|access-date=28 July 2019|archive-url=https://web.archive.org/web/20190727115558/https://www.business-standard.com/article/companies/interesting-tussle-on-to-gain-control-of-kannada-prabha-113071701107_1.html|archive-date=27 July 2019|url-status=bot: unknown}}</ref> The joint venture, called "Star Jupiter", comprised all general entertainment channels of Asianet 8 October 2013 bombay 12 March Communications (Asianet, [[Asianet Plus]], Asianet Suvarna and Asianet Sitara <ref>{{Cite news|url=https://www.business-standard.com/article/companies/star-tv-buys-majority-in-jupiter-entertainment-108111601036_1.html|title=Star TV buys majority in Jupiter Entertainment|last=Reporter|first=B. S.|date=2008-11-16|work=Business Standard|access-date=2019-07-27}}</ref>) and [[Star Vijay]]. Star India had reportedly paid $235 million in cash for the 51% stake and assumed net debt of approximately $20 million.<ref name=":16" /><ref name=":7" /> It's not clear how much stake Dr. Raji Menon held in the new Star Jupiter venture. Prior to forming the JV, it was known that the original founder had held about 26% stake.<ref name=":114"/> | ||
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.<ref name=":7" /><ref name=":4" /> | 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.<ref name=":7" /><ref name=":4" /> | ||