News (e)X owners
When SiddarthVaradarajan quit his post as Editor-in-Chief of The Hindu, he revealed to Tehelka that he had been editing a “blockbuster” piece that he didn’t think would be published now that he was no longer in charge. Well, it seems that the cat is finally out of the bag and the “blockbuster” involved MukeshAmbani, the INX Media Group (now 9X Media) and the ownership of News X. According to reports,MukeshAmbani’s RIL is being investigated by the Serious Fraud Investigations Office(SFIO) to determine whether supposed shell companies of Reliance made investments in 2009-2010 in INX Media subsidiaries and caused intentional losses to RIL shareholders. The Radia tapes and possible flouting of FDI norms by New Silk Route, a private equity firm that also holds shares in INX Media, also figure in the story. The charges are apparently serious enough to possibly lead to Mukesh Ambani facing criminal prosecution.
Shown the Open door
Hartosh Singh Bal has gone from being the Political Editor of Open Magazine to theformer Political Editor of Open Magazine. Displaying social media prowess, Balset up a Twitter account to announce his termination.
Bal has hinted that the man behind his sacking was SanjivGoenka, owner of Open and has stated that no reason was given for his termination. Was the exit because of a not-so-flattering critique of Rahul Gandhi, as inferred at by Centre Right India? His refusal to move on quietly while choosing to publicise how much Open was willing to pay him to make a quiet exit has made for spectacularly bad press for Open.
Reuters journos denied Chinese visas
The Chinese government has hit back at Reuters for unfavourable coverage on China by denying Reuters correspondents Chinese visas. The latest victim of this muscle-flexing by the Chinese government is veteran reporter Paul Mooney, who has been based in Beijing for the last 18 years. The Chinese government declined to give a reason for this move. China’s tactics to stem negative reports appear to be working, with Bloomberg side-lining an investigative piece on the financial ties between one of China’s wealthiest men and top political families so as not to anger the government.And foreign correspondents thought Pakistan treated them badly!
The Value In Vice
We keep hearing about how the media industry is going through a downturn, with no jobs, people being laid off and general downsizing taking place. Vice Media, the parent group of popular alternative magazine Vice, seems to be living in a different and more journalist-friendly planet though. Vice Media has begun expanding its newsroom and has hired 60 journalists over the last 2 months and is about to invest another USD 50 million to ramp up its operations. Vice Media intends to start a dedicated Vice News YouTube channel as well as live coverage of breaking news events and more in-depth documentaries (a niche they’ve already built a reputation for).