Posted:
http://www.televisionpoint.com/news2009/newsfullstory.php?id=1236869943
Balaji Telefilms in the state of being upheaved
Televisionpoint.com Correspondent | Mumbai
The year 2008 has not been the best of times for Balaji Telefilms and its promoters ' Shobha Kapoor, Ekta Kapoor, Jeetendra and Tusshar Kapoor. It was in the year 2000, when Balaji hit the jackpot when two of its shows ' Kyunki Saas Bhi Kabhi Bahu Thi and Kahaani Ghar Ghar Kii were launched.
The kitchen politics helped the serials create a cult following. However, the serials started losing its charisma and with the advent of reality TV, there was a dip in the television ratings as well. In January 2009, not even one Balaji show managed to grab a spot in the top 10 list.
This was followed by a rift in the relationship between Star India and Balaji Telefilms. Eventually in 2008, both the serials were taken off air. And the less said about their revival attempts - Kahani Hamare Mahabharat Ki and Kaun Jeetega Bollywood Ka Ticket on 9X, the better it is. Other Balaji shows like Kasturi, Karam Apna Apna and Kayamath also went off-air recently.
Kasamh Se on Zee TV was also discontinued from this week. An source says, "The actors of Kasamh Se have been around from a long time and their bills have costed Balaji Telefilms a huge number. It is a time to cut costs and the show was not generating enough profits either."
With the brothers-in-arm splitting, Balaji's stock price also crashed. In fact from March 9, 2008 to March 9, 2009 there has been an enormous erosion of 84.5 per cent in the share price of Balaji Telefilms on the National Stock Exchange.
On August 18 last year, Star India decided to do away with the 26 per cent stake that it held in Balaji Telefilms. Since then several rumours have been doing the rounds. First it was about 9X promoter, Indrani Mukerjea, picking up this stake. This was followed by the news that ADAG's Big Broadcasting might be interested in lapping up this share.
When none of this actually happened, then left with no option in late August 2008, the promoters of Balaji agreed to buy the Star stake at Rs 190 a share by January 18, 2009 and increase their holding in the company from 40 per cent to 66 per cent.
The turmoil in the Indian market has however turned out to be a damp squid in Balaji's grand plans. From Rs 190 a share in August 2008, the share price has crashed to Rs 25.05 as on March 9, 2009, a loss of a mind-boggling about 80 per cent.
Unfortunately for Balaji, even the movies produced under its banner in 2008 ' Mission Istanbul and C Kkompany ' were a disaster at the box office. Balaji's cup of woes overflows with the current news that many key people in the Ekta camp have called it a day.
The most prominent and the shocking name is that of Nivedita Basu who was the creative head at Balaji. Basu had been associated with the group for over nine years and she was one of the closest and trusted confidante of Ekta. She has now joined Colosceum Media as vice-president, scripted programming.
Even Suraj Rao, the man behind Kahani Hamare Mahabharat Ki, who was a creative head and had been associated with Balaji for 11 years has put in his papers too. Vikas Gupta, is another key person at Balaji who has decided to move on. The other shocking name is that of Sandeep Jain, chief financial officer, Balaji Telefilms, who quit the company very recently.
Whatever her detractors may say, Ekta is in no mood to be written off and is willing to take just about any step to find her way back to the top. "Ekta is in the process of revamping Balaji. One of the changes is in the people and to get in a new thinking process," reveals an insider.
Balaji has recently launched two new serials on NDTV Imagine ' Bandini and Kitni Mohabbat Hai. It might be too early to get any verdict on these serials yet, but on the onset they seem to be not too different from the stuff Balaji has been showcasing in the past.
The year 2008 has not been the best of times for Balaji Telefilms and its promoters ' Shobha Kapoor, Ekta Kapoor, Jeetendra and Tusshar Kapoor. It was in the year 2000, when Balaji hit the jackpot when two of its shows ' Kyunki Saas Bhi Kabhi Bahu Thi and Kahaani Ghar Ghar Kii were launched.
The kitchen politics helped the serials create a cult following. However, the serials started losing its charisma and with the advent of reality TV, there was a dip in the television ratings as well. In January 2009, not even one Balaji show managed to grab a spot in the top 10 list.
This was followed by a rift in the relationship between Star India and Balaji Telefilms. Eventually in 2008, both the serials were taken off air. And the less said about their revival attempts - Kahani Hamare Mahabharat Ki and Kaun Jeetega Bollywood Ka Ticket on 9X, the better it is. Other Balaji shows like Kasturi, Karam Apna Apna and Kayamath also went off-air recently.
Kasamh Se on Zee TV was also discontinued from this week. An source says, "The actors of Kasamh Se have been around from a long time and their bills have costed Balaji Telefilms a huge number. It is a time to cut costs and the show was not generating enough profits either."
With the brothers-in-arm splitting, Balaji's stock price also crashed. In fact from March 9, 2008 to March 9, 2009 there has been an enormous erosion of 84.5 per cent in the share price of Balaji Telefilms on the National Stock Exchange.
On August 18 last year, Star India decided to do away with the 26 per cent stake that it held in Balaji Telefilms. Since then several rumours have been doing the rounds. First it was about 9X promoter, Indrani Mukerjea, picking up this stake. This was followed by the news that ADAG's Big Broadcasting might be interested in lapping up this share.
When none of this actually happened, then left with no option in late August 2008, the promoters of Balaji agreed to buy the Star stake at Rs 190 a share by January 18, 2009 and increase their holding in the company from 40 per cent to 66 per cent.
The turmoil in the Indian market has however turned out to be a damp squid in Balaji's grand plans. From Rs 190 a share in August 2008, the share price has crashed to Rs 25.05 as on March 9, 2009, a loss of a mind-boggling about 80 per cent.
Unfortunately for Balaji, even the movies produced under its banner in 2008 ' Mission Istanbul and C Kkompany ' were a disaster at the box office. Balaji's cup of woes overflows with the current news that many key people in the Ekta camp have called it a day.
The most prominent and the shocking name is that of Nivedita Basu who was the creative head at Balaji. Basu had been associated with the group for over nine years and she was one of the closest and trusted confidante of Ekta. She has now joined Colosceum Media as vice-president, scripted programming.
Even Suraj Rao, the man behind Kahani Hamare Mahabharat Ki, who was a creative head and had been associated with Balaji for 11 years has put in his papers too. Vikas Gupta, is another key person at Balaji who has decided to move on. The other shocking name is that of Sandeep Jain, chief financial officer, Balaji Telefilms, who quit the company very recently.
Whatever her detractors may say, Ekta is in no mood to be written off and is willing to take just about any step to find her way back to the top. "Ekta is in the process of revamping Balaji. One of the changes is in the people and to get in a new thinking process," reveals an insider.
Balaji has recently launched two new serials on NDTV Imagine ' Bandini and Kitni Mohabbat Hai. It might be too early to get any verdict on these serials yet, but on the onset they seem to be not too different from the stuff Balaji has been showcasing in the past.
Kyunki Saas Bhi Kabhi Bahu Thi 2
