Sunday, September 01, 2013

TV 18 mass firng episode

crowdsourcing throws this light

The people to blame for this mess are Raghav Behl and his deputy Sai Kumar, who now drives in a Jaguar. They expanded the business and their fancy to grow big no bounds. In a presentation during the launch of Forbes, Raghav presented his empire as if he was Rupert Murdoch - he said he controls most of the television in the country with a hint of arrogance in his voice. Well, is he to blame? Who doesn't get carried away with the power that media yields.
Soon after they bought the Tata Press assets, they realised they bought a lemon by ICICI Ventures (It also sold a lemon to Wipro - remember a retail chain stores?). The press was antiquated and that buy almost marked the beginning of the downturn of the group. While the deal was being inked, a senior member of Raghav's team talked to an ex-Tata Press employee who expressed surprise over the group buying it. He didn't want to talk too much as they were hiring him and did not want to sound negative. He asked them to do proper due diligence. But, the lure of growing big won. They tried hiring Jaideep Bose, the editor of TOI for over Rs 3 crore a year or twice of what he was getting paid. Bose didn't join and saved himself from the current bloodbath.
With the muck hit the roof, Raghav was on his knees seeking money from only one person who could afford to bail about such an inefficient business - someone with pot loads of money and who desired to keep a foot in the media and entertainment space - Mukeshbhai.
But, unlike Raghav, Mukesh knows that the bottomline of any business is the bottomline. Despite, Raghav's claim of losing advertising revenue or poor market conditions, the bottomline of Network18 has actually improved last quarter and it has made profits. Talk to any media analyst, they will tell you that after the clean up of costs, Network18 will indeed be a good business to buy Now that CNBC and IBN have brand recognition, it won't be tough to scale up with a few crores of investment and hiring the right talent when the market swings up again. For now, the bleeding and the mad expansion in the last few years stands corrected.
It is sad that so many unsuspecting young journalists lost their jobs because of a Raghav, who was himself a budding journalist a few decades ago and who struggled to build his business. The loss of face is the biggest for him - he ambitions have been rudely castrated and he is just a menial worker who now has to follow the whims and fancies of his bosses of a company that he still thinks he owns.

Modi express has derailed this media gravy train.. Imagine the influence of Twitter and Facebook on the business of these media companies. There is hardly any journalism left now. its all about making money. I feel really bad when I see these news media people start reporting based on twitter nowadays without doing their on research.
Congree pampered these media fools for so long at taxpayer's expenses by giving them monster ad revenue on the family birth and death anniv.. now That will soon change.

Canadian jee, looks like you have been away from the country too long. Rs 50,000 a month allows journalists to barely rent a flat, pay for transport and phone bills which most companies don't reimburse. If you have school-going children you barely make ends meet. Yes, they are no poverty line, but journalism is a high investment profession. The amount we have to spend on going about our daily work is something very few other professions have to deal with. Even sales people get petrol money.
As a young reporter with a leading Delhi daily, I was paid a piddly Rs 16 k and expected to cover half-a-dozen beats and that involved travelling, and at a considerable speed. On a given day I would travel the length and breadth of the city twice over, terrified by male bosses who thought nothing of screaming down expletives at you.
All those taking the high horse about the media, need to know the inside story. So many of us lose our jobs because we don't do our bosses' bidding. You never hear of us. How many times have you people taken a principled stand on a social issue and risked losing your livelihood? I come from a middle class family, a low salary throughout my career, and spending on professional needs from my pocket means I have next to no savings.
Incidentally, Rolls Royce has launched a new model in Maharashtra today, the vehicle is worth Rs 4 crore to Rs 6 crore. The company is not worried about the devaluation of the Rupee because the "niche market" it targets will not be affected :) Affected will be people who drive their small cars bought on loans, two-wheelers or the Metro to work. Dont cheer too much. They are coming for you next.

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