The country's top TV channel NDTV again became a topic of social media gossip. There were online messages saying NDTV was sold in a deal that offered 25 per cent less than its estimated value. One message said that a fund had bought a stake in the media group.
NDTV Group CEO K.V.L. Narayan Rao promptly dismissed the rumours.
"It's wrong. Just speculation," Rao told BW Businessworld.
Rumours of NDTV being sold keep surfacing every few months, but this time the gossip appears more intense in view of the current frail situation of the Indian media industry. There have been hundreds of job losses at some of the country's top media groups in the wake of demonetisation.
Various media organisations are downsizing their staff, closing down editions, issuing circulars to their employees to curb unwanted official expenses and putting discretionary spending on hold.
Earlier this month, many on Twitter asked questions about the rumour of NDTV's potential sale. Some of them even declared that the leading TV channel was already sold.
BW Reporters
The author is a journalist with BW Businessworld. He primarily covers Retail, Media & Entertainment and Travel & Tourism sectors
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