ShivRaj
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News Network (ANN) has elevated Avinash Pandey to chief operating officer (COO) of the company. He will report to ABP Group executive director Atideb Sarkar.
Pandey was earlier serving as chief revenue officer of ANN and COO of the company’s Hindi news channel ABP News.
Pandey’s elevation comes on the heels of ANN CEO Ashok Venkatramani’s exit from the company.
Pandey has rich experience in media sales spanning more than 16 years. He started his career with the Indian Express Group and moved on to the TV Today Group in 2000. He joined ANN in 2005. Avinash is a postgraduate in modern history from Delhi University.
ANN is a profitable company. It had reported a net profit of Rs 60.5 crore on an operating income (OI) of Rs 404.1 crore in FY2016 (as per provisional numbers). In FY2015, the company reported a PAT of Rs 52.5 crore on an OI of Rs 374.3 crore as per audited results.
Incorporated on 30 May, 2002 as a Star Group company, ANN was initially a content provider to Star News Broadcasting Ltd (SNBL), a wholly owned subsidiary of the Star Group.
However, subsequent to the imposition of the 26% cap on foreign investment in news channels that seek to uplink from India and the requirement to have an Indian entity control 51% of the shareholding in news and current affairs channel, ABP Pvt Ltd (APL) was brought in as a partner on 19 September 2003.
APL became the majority partner with 74% stake in ANN through its fully owned subsidiary ABP TV Pvt Ltd (ABP TV). In April 2012, SNBL exited ANN and sold its remaining 26% stake to ABP TV. In FY2016, pursuant to a scheme of amalgamation, ABP TV was merged with ANN and the company is now a 100% subsidiary of APL.
Avinash Pandey elevated to COO of ABP News Network | TelevisionPost.com
Pandey was earlier serving as chief revenue officer of ANN and COO of the company’s Hindi news channel ABP News.
Pandey’s elevation comes on the heels of ANN CEO Ashok Venkatramani’s exit from the company.
Pandey has rich experience in media sales spanning more than 16 years. He started his career with the Indian Express Group and moved on to the TV Today Group in 2000. He joined ANN in 2005. Avinash is a postgraduate in modern history from Delhi University.
ANN is a profitable company. It had reported a net profit of Rs 60.5 crore on an operating income (OI) of Rs 404.1 crore in FY2016 (as per provisional numbers). In FY2015, the company reported a PAT of Rs 52.5 crore on an OI of Rs 374.3 crore as per audited results.
Incorporated on 30 May, 2002 as a Star Group company, ANN was initially a content provider to Star News Broadcasting Ltd (SNBL), a wholly owned subsidiary of the Star Group.
However, subsequent to the imposition of the 26% cap on foreign investment in news channels that seek to uplink from India and the requirement to have an Indian entity control 51% of the shareholding in news and current affairs channel, ABP Pvt Ltd (APL) was brought in as a partner on 19 September 2003.
APL became the majority partner with 74% stake in ANN through its fully owned subsidiary ABP TV Pvt Ltd (ABP TV). In April 2012, SNBL exited ANN and sold its remaining 26% stake to ABP TV. In FY2016, pursuant to a scheme of amalgamation, ABP TV was merged with ANN and the company is now a 100% subsidiary of APL.
Avinash Pandey elevated to COO of ABP News Network | TelevisionPost.com
