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there's more to the eye than acquiring a majority stake in a media agency for only 5.1 lakhs
IANS newswire agency made only approx 8-12 crore INR as each year's annual turnover for the past three years. barely above $1-1.2 mil approx
as far as I know every digital media is operating on losses. heavy losses. much of their operation is on donations by subscribers, (some ask them every month), cheap click baits on YouTube and fb, funding from lobbyists through NGOs and political parties, and heavy ad. buys which influence news releases.
so it's actually easy to control news. you either buy them to asset control. exactly the right move form adani who has consolidated three major news outlets in india. (others don't matter much. they license news from these three main peeps. this will continue) - especially after the relentless badgering by news organizations after hindenburg' report.
i expected this to happen.
another way is to file multiple defamation lawsuits against editors, journalists and the outlet all over India and bleed them dry.
most news outlets will go out of business or file bankruptcy.
but this is something someone in public markets like adani cannot do since the news orgs. can damage his stocks anyway they want before they go down. the outcome isn't efficient.
buying them is far more efficient.
so, why buy so cheap?
you'd have to understand - with heavy losses, the valuation of the co - with no outstanding assets to continue to pay the salaries and expenses along with loans and other liabilities severely reduce the valuation.
so for a small token amount, you capture majority, take over finances and bankroll it - restructure the company, fire and hire. classic M&A by a PE firm will do this.
to be honest, the state of most digital media is at such a sorry state, if you can spare 10C INR a year, you can easily buy one big enough media agency with majority control.
i expect adani to do the same over and over again.
good bye to any political discourse. it's a bad precedence?
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the problem? overly leftist and socialist journos and editors trying to run a capitalist business is irony dying a thousand deaths.
wil legacy media in South India survive? yes.
will digital media? they have found new avenues to mint money which we all hate. but not for long unless they are continuously being lobbied.
so if you hate news organizations for being biased, for talking and supporting political organisations and changing their support every season? it's because they are inefficient in running and always depend on an external source of funding to do so.
now you know why i wanted to change it.
it's completely possible to run a news agency profitably. without being biased from outside money or ad buys/lobbyists.
i am determined to prove that.
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