Dr. Subhash Chandra Raises Concern Over News Media Ownership in India

Dr. Subhash Chandra Raises Concern Over News Media Ownership in India

MUMBAI, August 10, 2015 /PRNewswire/ --



A Pertinent Issue for the News Media Industry  



With the growing number of television channels, the critical issue facing the news
media industry today is about ownership and security licenses of these mushrooming
channels. The industry is in dire need of a proper regulatory framework, to create
stricter entry checks.



     (Photo:
http://photos.prnewswire.com/prnh/20150807/10128369 )




Concerned about the issue, Dr. Subhash Chandra, Chairman, Essel Group opines, "The
media houses were started by our freedom fighters like Raja Ram Mohan Roy to inform and
empower people. However today, a few entities have started news media businesses as a
shield for their illegal activities. Regulatory complexities are a concern for the
industry and with skewed business models, no serious corporate wants to invest in this
industry. It is high time we realize the need for a defined framework of rules under the
media regulator in order to screen out these illegal players."



Media is a soft power which in a large democracy like ours, creates public opinion so
that the other pillars of the society like the executive, legislature, judiciary and even
business, do not use the democracy for their own gains. The TV medium is different from
the print medium, as newspapers are read only by the educated class. But television being
a mass medium has a far deeper penetration, reaching even the remote rural areas of the
country and in their respective regional languages. Hence, television as a medium has a
far greater impact on the society.



The Reserve Bank of India applies 'fit and proper' criteria before issuing any
permission for entities entering into the financial services. The criteria unveils the
corporate whole and searches for sources of funds as well as the relationship of the
promoters in a vertical and horizontal manner, as these services impact the finances of
the common man. So the question to be asked is, 'Is protecting the common man's mind from
getting misled and polluted less important than protecting one's money?'



Elaborating further, Dr. Chandra said, "Today, ownership of media, particularly of
news channels is opaque. We should not be surprised if some of these news channels are
owned by underworld elements. The need of the hour, is to have a media council with robust
media ethics and code of conduct, similar to the due diligence as provided in the Banking
sector by the RBI."



Re-iterating the need for transparent media operations, Dr. Chandra emphasized "the
criticality of the industry players coming together to raise a joint voice on these
crucial issues."



Recently, Zee Business channel brought this issue to light with a compelling
discussion on media ownership and transparency. Please find below the link for your
reference:



https://youtu.be/3FSbE8MPiZc



Dr. Subhash Chandra's official Twitter handle - @_SubhashChandra 




 
Media Contact: 
Jayshree Kumar 
+91-22-24831367 
+91-9769286661 
jayshree.kumar@zee.esselgroup.com  

 
Arantxa Gonsalves 
+91-22-24831395 
+91-9820336890 
arantxa.gonsalves@zee.esselgroup.com 
Corporate Brand - Zee Entertainment Enterprises Limited (ZEEL) 


 





Photo:
http://photos.prnewswire.com/prnh/20150807/10128369


Photo:http://photos.prnewswire.com/prnh/20150807/10128369
http://photoarchive.ap.org/
Photo:http://photos.prnewswire.com/prnh/20150807/10128369
http://photoarchive.ap.org/
Essel Group


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