From revenue head to CEO

MUMBAI: Joy Chakraborthy, who grew in the television broadcasting space as a revenue specialist, nursed ambitions of becoming a chief executive officer.

Subhash Chandra-promoted Zee Entertainment Enterprises Limited (Zeel) gave him that operational role as head of niche channels while he continued to look after the revenue of the entire network and news daily DNA, but the playing field was too small.

Groomed in National Defence Academy and later as a trainee pilot, Chakraborthy had bigger dreams. He wanted to lead an attack that would dig deep into the enemy territory and expand his area of operations.

In an era of consolidations and partnerships, the 44-year-old found an opportunity when he met India Today Group CEO Ashish Bagga while discussing about a possible strategic sales alliance between DNA and Mail Today, a joint venture between India Today Group and British newspaper Daily Mail.

Founder-promoter Aroon Purie was at that time scouting for a CEO for TV Today Network after the exit of G Krishnan.

"It was a warm meeting with Bagga and we later met Group CFO Dinesh Bhatia. It was like buddies at work. The meeting with Purie was very fruitful," recalls Chakraborthy.

Chakraborthy will take up his new role as TV Today Network CEO from 1 December, ending his six-and-a-half-year stint at Zeel.

"I have accepted his resignation with a heavy heart. He did lead a strong team at Zeel that will continue to be part of our family," says Zeel MD and CEO Punit Goenka.

As he steps into his new shoes, Chakraborthy will face many challenges. He will, indeed, be moving into a much low-sized revenue company. Zeel ended last fiscal with a revenue of Rs 30 billion, dwarfing that of TV Today?s turnover of Rs 2.9 billion.

The business strategies of the two companies are also different. While Zee has a presence across all segments of the media business, the India Today Group is a news-focused company.

The TV news genre itself is under stress and strain. Revenue growth is slowing while staff and distribution costs are climbing.

So is Chakraborthy, who will be shifting to New Delhi, kicked about joining a news outfit that will give him power?
 
"Professionally, I see myself diversifying. I am excited about getting into a more dynamic and competitive genre which is news. I will also be experiencing radio, a new medium for me after having done print and TV. And I am joining one of the largest news media companies," says Chakraborthy.

Critics say Chakraborthy will be challenged and will have to develop new skill sets. "It will be a far tougher road for a man who has done ad sales most of his life, be it at Times of India or Star or Zee. TV news business is highly cluttered, plagued with distribution costs and revenue growth issues," a senior TV executive observes.

An optimist and highly self-motivated, Chakraborthy is not disturbed. "I have learnt a lot during my stint at Zee. We have operated in a cost-tight environment and focused on being profitable. I have been given the opportunity to explore and broaden my experience in diversified functions including distribution. And news is not new to me as I have handled sales for Star News during my earlier stint in Star India," he says.