Bitter end to the Balaji-STAR fairytale? - Article

by Meenakshi Shankar

Oct 21, 2008, Mumbai

After Balaji Telefilms' popular soap Kahani Ghar Ghar Ki, it is now time for Kyunki Saas Bhi Kabhie Bahu Thi to go off air. Like a house of cards, Balaji's showcases are crumbling down. One of the longest running soaps in Indian television's history, Kyunki Saas Bhi Kabhie Bahu Thi has been running for the last eight years.

But now, reports suggest, Star Plus is coming up with a new line of programming to replace Kyunki. And from reports, we hear that the show is all set to close shop by November 10th. According to our sources, Kyunki, which was once India's top-rated show, is produced by Balaji and the termination is in breach of contractual obligation owed by the Star group to Balaji, it said in a statement to the BSE after suffering loses in the share market. And, Balaji is pursuing all legal remedies available, it added.

"The company is of the view that the termination is in breach of contractual obligations owed by the STAR Group to the company and is pursuing all legal remedies available to it in relation to the same," Balaji said in a regulatory statement on Monday.

Balaji has been producing the serial since 2000. It has reigned for a long time on the top of television rating lists and Kyunki...is one of the six programmes it produces for the STAR Group. As we had earlier reported, it hasn't been a smooth ride for the Balaji-Star affair. Though the group and Balaji Production refrain from commenting on the same, the chasm widened with every passing day. It was a known fact that Star Plus was shopping for other production houses. And Balaji has been seeking new alliances with newbie channels.

And if we are to look into numbers, Balaji's shares fell by as much as 13.3 percent to 94.20 rupees after the news and recovered slightly to trade 8.8 percent down at 99 rupees at 1157 hours IST India time. In August this year, it was reported that Star and Balaji would cancel their regional language joint venture agreement, and the Indian broadcaster will sell its 25.99 per cent stake in Balaji.

The founders of Balaji are entitled to purchase the stake on their own or through a third party for Rs. 190 a share. Balaji's showcases have taken a beating for the worse. The 'K' queen Ekta Kapoor had once quoted "My shows are good, but it is the channel which fails to bring in the TRP's..." but how can she explain the fact that shows like Sapna Babul Ka...Bidaai are bringing in the right numbers? We'll never know unless we hear from the Balaji stable.

http://www.tellywatch.com/telly_news/bitter_end_balaji_shows/october-21-2008/bitter_end_balaji_shows_kyunki_saas_bhi_kabhie_bahu_thi_off_air.html