The saga of a media group that has had, in the last decade and a half, more ups and downs than a roller coaster in an amusement park.
Why the promoters acquired control over an obscure non-banking company, pumped cash into it and set it up as the parent company holding investments in the media operations of the Group.
The new owner has deep pockets, sees synergy with his mobile empire, and begins the salvage with a Rs 1000 crore write-off.
No amount of ‘restructuring’ could turn operations around. Soon a change in management and ownership control became the only feasible course of action.
General entertainment brings in the profits, News TV and distribution remain viable, DNA shows a modest cut in losses.