The curtains have come down on Z 24 Ganthalu, owned by Zee News Ltd. Taking everyone by shock and surprise, the 24 hour news channel is going to close down all its operations with immediate effect hanging the fate of its employees in balance. Going by our sources, this month would be the last month to watch Z 24 on your TV screen.
It is learnt that the channel is going through a rough phase of late, and this talk has been going on for a while.
The management on Wednesday apparently informed its employees to look for new jobs. The formal functioning of the channel has already come to a grinding halt as Wednesday was the last day functioning day.
What's irony is that the management is not even ready to pay salary to its employees for this month, according to inside sources of channel.
Now it's almost all official and only a formal announcement regarding shutdown of Z 24 is awaited. What's raising many eyeballs is how a news channel could be closed ahead of general elections? That too, a channel supported by PCC president Botsa Satyanrayana who holds a considerable share in the channel.
Above all, the channel itself belongs to a leading group in India. At least, they could mull options to sell the channel but why are they planning to close it haphazardly is the moot point.
Recent debacles like former DGP Dinesh Reddy lodging complaint against the channel, under Section 469 (forgery for purpose of harming reputation) of the Indian Penal Code and under the section 66A of Information Technology Act for a story it aired on September 12 which allegedly has "morphed visuals", has definitely taken toll on its reputation and have had its affect. But that’s not all. The negotiations on whether to continue functioning or to shut had went on for a while, before opting this extreme and rigorous decision.
The channel was launched in 2008, with a tagline Nijam Nippulantidi, a year before 2009 assembly elections in the state and got good reputation. Whatsoever, the abrupt shutting down of the channel is definitely a jolt to other media persons. Now, thousands of its employees are hunting for jobs.
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