Anil Ambani’s English business news channel suspends transmission
MUMBAI: In an abrupt move, Anil Ambani-promoted Business Broadcast News Private Limited (BBNPL) has suspended transmission of its English business news channel BTVI with effect from 31st August.
In a statement, the company further stated that it will communicate further steps in the coming days to ensure a smooth transition of operations.
“This is to inform you that Business Television India (BTVI) will be suspending transmission on broadcast platforms w.e.f midnight Saturday, 31st August 2019. We sincerely thank everyone for all the hard work that has gone into building our television channel over the past three years,” BTVI said in a statement posted on its Twitter account.
“Over the next few days, we will communicate the future steps towards ensuring a smooth transition of our operations,” it further stated.
Reliance Business Broadcast News Holdings Ltd (RBBNHL) is primarily held by ADA (Anil Dhirubhai Ambani) Group with the majority of shareholding with group companies of ADA group. BBNPL is a 100% subsidiary of RBBNHL.
RBBNHL’s operating revenue in FY18 stood at Rs 11.49 crore as against Rs 9.05 crore in FY17. Net loss was Rs 148.18 crore compared to Rs 127.36 crore. EBITDA loss was Rs 1.12 crore compared to Rs 90 lakh.
BTVI is the only free to air (FTA) English business news channel in the country. It had gone FTA in the new tariff regime of the Telecom Regulatory Authority of India (TRAI). Earlier, the channel was designated as a pay channel with an MRP of Rs 3.
Apart from cable and DTH platforms, the channel is also available on over the top (OTT) platform like Hotstar, JioTV, and YuppTV. Its live stream is also available on Kotak Mahindra Bank, Axis Bank, HDFC Securities, and IIFL apps.
In the last few months, the channel has been closing the gap with ET Now, which is the second most-watched channel in the genre. BTVI is the third most-watched channel in the genre while CNBC-TV18 is the topmost viewed channel.