The founder and promoter of ZEE Network, Subhash Chandra, has announced that he would like to step down in a year or two to “do better things than making money.”
He made the revelation during at the Cable & Satellite Association of Asia (Casbaa) annual convention in Hong Kong where he received the award for ‘Lifetime Contribution to the Asian Pay-TV Industry’.
Chandra said, “I want to retire in a year or two.” He gave no details about who would succeed him but when asked about his son Punit Goenka who is ZEE Entertainment Enterprises Ltd (ZEEL) CEO, he said “I would not like to be in his shoes as expectations of him are very high because he is my son, but he has shaped up well.”
On the current scenario of Indian broadcast industry, Chandra was rather critical saying that “executives are living week to week. Several of these players are in one vertical and have parochial interests. They are not together. They don�۪t have a long term vision and even the owners don�۪t know why they are in business. This is a great business to be in, but it is in bad health. It is running $200 million to $500 million in the negative every year, because we are a divided bunch.”