Asianet (TV channel): Difference between revisions

| founder = [[Sashi Kumar]]

The channel was originally promoted by Dr. Raji Menon in the mid 1990s.<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.

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.

In India ill fate hit the idea. 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 as Dr Menon as a NRI needed RBI clearance to own a media company . 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.

In the absence of bank financing 50% shares of the cable networking company was sold to Raheja Group. Dr. Raji Menon increased Mr Sashikumar's share from the initial 5% 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.

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 Reji 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.