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April 19, 2001
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Money > Business Headlines > Report April 19, 2001 |
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Zee drops DTH plansAnjan Mitra & Surajeet Das Gupta Zee Telefilms Ltd has decided not to go ahead with its plan to start a KU-band direct-to-home television service in India. Some months ago, it had announced an alliance with Sivasankaran-promoted Sterling for forays in DTH. "I don't think the regulations (relating to DTH) are clear," Zee Telefilms Ltd chairman Subhash Chandra told Business Standard in an interview today, adding, "DTH does not look like a viable business in this country and for us it does not make sense at this moment." Pointing out that the "open architecture" clause, as outlined in the DTH policy, would affect any DTH service provider's business plans since it would allow competition to grab existing DTH subscribers, Chandra said, "Despite (these drawbacks) if somebody wants to subsidise the set-top boxes, then good luck to him." Putting on hold forays into new areas like DTH is part of ZTL's gameplan to regain its No 1 position amongst satellite channels vis-à-vis advertising revenue and viewership. Chandra said Zee Network had set itself a target of improving its programming and garnering more than 40 per cent viewership within 18 months, preferably by the year-end. Its current viewership is 32 per cent. "What was Zee's problems? It grew so fast and so quick that we did not have systems like a key performer's indicator, defining the roles and responsibilities of the staff and investment prioritisation," Chandra said. These problems were identified by AT Kearney, whose recommendations on restructuring, including on downsizing of zeenext.com, are being implemented by the company. According to Chandra, Zee is also open to MGM upping its stake in the Zee-MGM 70:30 joint venture. "If they (MGM) like to (up the stakes) we have no issue," Chandra said, adding that Zee could reduce its shareholding in the joint venture up to 51 per cent. He made it clear that no formal proposal had been received from MGM in this regard. The company, which has seen its share prices being buffeted in the recent past, has also put on hold plans to start a new channel called Chakra, which would have been an organic channel airing programmes on issues like alternative medicine. Powered by YOU MAY ALSO WANT TO READ:
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