By now, changes at Zee would have sunk in. As reported yesterday, Zee’s Chairman Subhash Chandra has taken over the control of day-to-day management to ‘directly provide leadership’. Expectedly, Sandeep Goyal has quit as CEO.
Even as this saga was unfolding, exchange4media had anticipated and reported the development. In a Newsflash, 5 days before the news broke, we had put our money where the mouth is.
A formal announcement from Zee on Monday night confirmed the restructuring.
Chandra announced a three pronged strategy for the group which includes focus on 'programming excellence, multi-pillar channel approach built around the Zee TV flagship and build operational efficiencies to drive shareholder value'.
Elaborating on the multi channel approach he said, “ Markets beyond the mainstream and metros are often treated as spillover when they are actually critical to community placement. Advertisers too are recognising that viewership patterns don’t follow a national map but vary by geographies and segments. We believe that, like in the US, national channels would provide a backbone while region and segment specific programming will become stronger and stronger. We are the only broadcaster who is able to offer such a multi-pillar approach which ensures that we have strong and resilient viewer and revenue supports across the Network.”
Assuming immediate change, Chandra will work directly with the ‘core team’ comprising of Apurva Purohit, President Zee TV, Prashant Sanwal, Director - Alpha Channels and younger brother Laxmi N. Goel, Director - Zee News. The core team has 3 other members.
Meanwhile, while Goyal is going to continue with the channel as an ‘advisor’, he is currently headed for a sabbatical.
exchange4media readers would remember our Newsflash on October 10, 2002, five days before the official confirmation. Even as Sandeep Goyal denied this development, we wrote –“However, if the buzz in the media circles is to be believed, a lot of changes are on the card at Zee. Channel watchers opine that Goyal doesn’t want to upset the cart, since group's Chairman Subhash Chandra was at Cannes and was expected back soon. For Zee watchers, several recent developments over the past week are strong pointers. The crucial one being that the group Chairman, Subhash Chandra has taken over the reins of his sagging television empire recently. He is believed to be getting his hands on the day-to-day business operations and is focusing on flagship channel - Zee TV”
With this restructuring, the market focus will be on how Zee TV would fight back to gain a foothold in the tri-polar contest that the broadcasting space represents today.