Turner Broadcasting System has decided to close down the Hindi general entertainment channel Imagine TV, which it had acquired from NDTV in 2010. The company says it is because of the channel's dismal performance.
April 12 is the channel's last working day.
According to website exchange4media.com, the channel's shows including the international feed Imagine Dil Se will reportedly air re-runs from April 13 onwards.
"Imagine TV has not performed and grown as per expectations. While some programmes delivered satisfactory ratings, overall the channel was unable to achieve the ratings consistency needed to sustain the business and support continued investment. As a result, Turner made the carefully considered decision to cease operations of the channel. We are grateful to the Imagine team, which includes some of the most talented and creative people in the Indian media industry. We will use our best endeavours to make this as smooth a transition as possible for them," Siddharth Jain, MD - South Asia, Turner International India told the web portal exchange4media.com.
According to the portal, the process for that is set to begin today.
Following the slowdown of 2008 and given NDTV's and NBCU's inability to invest further in the venture, in December 2009, Time Warner's Turner Broadcasting System, had announced its decision to acquire NDTV's stake in Imagine and make it a fully owned Turner company eventually, the portal reported.