rajatduggal.1
04-12-2012, 01:36 PM
MUMBAI: Turner Broadcasting System Asia Pacific (TAVP) has decided to shut down its Hindi general entertainment channel (GEC) Imagine TV.
The decision has been taken as the channel failed to perform in a highly competitive GEC space and failed as a sustainable business proposition.
Turner International managing director- South Asia Siddharth Jain said, “Imagine TV has not performed and grown as per expectations. While some programmes delivered satisfactory ratings, overall the channel was unable to achieve the ratings consistency needed to sustain the business and support continued investment. As a result, Turner made the carefully considered decision to cease operations of the channel."
He added that Turner will try to make this as smooth a transition as possible for the employees.
Imagine TV (earlier part of NDTV) was launched as NDTV Imagine in January 2008. Later, in December 2009, Turner Asia Pacific Ventures (a wholly owned subsidiary Turner Broadcasting System) acquired 92 per cent stake in NDTV Imagine. Turner completely acquired NDTV Imagine in February 2010 and renamed it as Imagine TV.
Jain added that the company remains committed to future investments and long-term participation in India.
Turner operates HBO, CNN, Cartoon Network, POGO, WB, TCM and Boomerang in India.
The company stressed that it will continue to explore expansion opportunities in the Indian media and entertainment industry.
http://www.indiantelevision.com/headline...apr107.php
The decision has been taken as the channel failed to perform in a highly competitive GEC space and failed as a sustainable business proposition.
Turner International managing director- South Asia Siddharth Jain said, “Imagine TV has not performed and grown as per expectations. While some programmes delivered satisfactory ratings, overall the channel was unable to achieve the ratings consistency needed to sustain the business and support continued investment. As a result, Turner made the carefully considered decision to cease operations of the channel."
He added that Turner will try to make this as smooth a transition as possible for the employees.
Imagine TV (earlier part of NDTV) was launched as NDTV Imagine in January 2008. Later, in December 2009, Turner Asia Pacific Ventures (a wholly owned subsidiary Turner Broadcasting System) acquired 92 per cent stake in NDTV Imagine. Turner completely acquired NDTV Imagine in February 2010 and renamed it as Imagine TV.
Jain added that the company remains committed to future investments and long-term participation in India.
Turner operates HBO, CNN, Cartoon Network, POGO, WB, TCM and Boomerang in India.
The company stressed that it will continue to explore expansion opportunities in the Indian media and entertainment industry.
http://www.indiantelevision.com/headline...apr107.php