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NDTV Profit to go hybrid from 17 March, NDTV Prime will take non-market time
MUMBAI: New Delhi Television (NDTV) is finally ready to give a facelift to its 24-hour business news channel NDTV Profit by turning it into a hybrid channel.
From 17 March, NDTV Profit will convert into NDTV Prime in the evening and on weekends. During market hours, NDTV Profit will continue to offer business news and analysis like usual.
The process of revamping NDTV Profit, which had lagged behind market leader CNBC TV18 and ET Now, was started last year when it shifted its control room from financial capital Mumbai to national capital New Delhi in order to cut costs.
Undergoing ‘rightsizing’, it had also asked close to 50 employees from Mumbai office to shift to Delhi.
In an earlier interaction, NDTV CEO Vikram Chandra had said that NDTV Profit was in the process of revamping and while business news was to remain the core DNA of the channel, the company was in process of commissioning ‘new and exciting shows’ for non-market times, i.e. evenings and weekends.
NDTV Profit was the second channel in the business news genre but its profitability took a hit with increasing competition from new channels and increasing costs.
In fact, the company had planned to sell a stake in the channel in 2012. NDTV had said it was open to selling a stake in NDTV Profit to a strategic investor to streamline its financial resources and expand in a tough economic environment. The company had also mandated Ernst & Young to restructure operations and propose cost-cutting measures.