Truth vs. Survival: The Economics of a Captured Media

Breaking News, Broken Independence

By Jitendra Kumar Singh

(A Policy and Media Ownership Analysis Report — October 2025)

1. Introduction

In recent years, India’s news and entertainment television sector has been heavily consolidated under large corporate conglomerates. While competition appears vibrant on the surface—with hundreds of channels—the reality is that a handful of industrialists control the majority of mainstream TV news networks.

This growing concentration of media power, often aligned with government interests, has raised serious concerns about the independence, diversity, and objectivity of news reporting.

2. The Structure of Media Ownership in India

India’s major television networks are now primarily owned by business groups whose core interests lie outside journalism—spanning energy, infrastructure, and telecommunications. Their deep connections with political power and state contracts make it difficult for their channels to air critical views on policies or governance.

Ownership consolidation has turned several TV networks into extensions of corporate and political narratives, limiting pluralism in public discourse.

3. Case Studies: Industrialist-Owned Media Networks

• Case Study 1: Mukesh Ambani and Network18

Owner: Reliance Industries Limited (RIL)

Subsidiaries: Network18 Media & Investments, Viacom18 Media Pvt. Ltd.

Major Channels: CNN-News18, News18 India, CNBC TV18, CNBC Awaaz, Colors TV, MTV India, Nickelodeon India, VH1 India, Comedy Central India.

Digital Outlets: Firstpost, Moneycontrol, CNBCTV18.com, and News18.com.

Reliance acquired full control of Network18 in 2014, making it one of India’s largest media conglomerates with over 70 TV channels and a reach of more than 800 million viewers. Critics argue that post-acquisition, Network18’s editorial independence weakened, especially in coverage related to petroleum, telecom (Jio), and government policies aligned with RIL’s business interests.

Former Network18 journalists have reported internal pressure to “tone down” criticism of the government and corporate allies. Reliance’s influence is subtle but structural — through ownership, advertising control, and appointment of compliant editors.

• Case Study 2: Gautam Adani and NDTV

Owner: Adani Group (AMG Media Networks Ltd.)

Major Channels: NDTV 24×7, NDTV India, NDTV Profit, NDTV World, NDTV MP & CG, NDTV Rajasthan, NDTV Marathi.

Digital Outlets: NDTV.com, Gadget360, Mojarto (art platform), and NDTV Apps.

NDTV was once known for its independent and critical journalism, often challenging political and corporate power. In 2022, Adani Group acquired a majority stake through a takeover of the holding company, RRPR Holding Pvt. Ltd.

Since the acquisition, NDTV has seen editorial leadership changes, resignations of long-time anchors, and a shift in tone toward more government-friendly narratives. The launch of multiple regional channels under Adani’s ownership signals expansion but also greater corporate consolidation.

This case highlights how financial acquisition can reshape a channel’s editorial ethos within months.

• Case Study 3: Subhash Chandra and Zee Media

Owner: Essel Group (founded by Subhash Chandra)

Major Channels: Zee News, Zee Business, WION, Zee Hindustan, Zee 24 Taas, Zee Bihar Jharkhand, and others.

Digital: Zee News Digital, DNA India, India.com.

Zee News has long faced allegations of promoting pro-establishment views and using polarizing rhetoric. The Essel Group’s business interests in real estate, infrastructure, and entertainment (Zee Entertainment) have overlapped with political alignments.

Several journalists have accused Zee of blurring lines between news and propaganda, prioritizing ideological content over factual reporting. Despite criticism, Zee’s wide reach ensures significant influence in Hindi-speaking regions.

• Case Study 4: Times Group and The Bennett, Coleman Company

Owner: The Jain Family (Private ownership)

Major Channels: Times Now, Mirror Now, ET Now, Zoom TV.

While not directly aligned with a single industrial conglomerate, the Times Group operates as a powerful corporate entity driven by advertising revenue. Its news channels are accused of sensationalism and selective coverage, catering to middle-class urban audiences and avoiding confrontational journalism against major advertisers or political power centers.

• Case Study 5: Sun Network

Owner: Kalanithi Maran (Dravida Munnetra Kazhagam-linked family)

Major Channels: Sun TV, KTV, Sun News, Gemini TV, Surya TV, and others.

The network, dominant in South India, has been criticized for its political affiliations and editorial bias favoring DMK interests in Tamil Nadu. The case illustrates regional-level political capture of media, mirroring national-level trends, Sun NXT (OTT platform).

4. Other Similar Industrialist-Owned Media Networks

1. India Today Group (Aroon Purie Family Ownership)
  • Major Channels: India Today TV (English), Aaj Tak (Hindi), Good News Today, and Tez.
  • Note: Privately held, the group maintains strong political influence and dominates Hindi news broadcasting.

2. ABP Group (Ananda Bazar Patrika Ltd.)
  • Major Channels: ABP News (Hindi), ABP Ananda (Bengali), ABP Majha (Marathi), ABP Asmita (Gujarati), and ABP Ganga (UP–UK).
  • Note: Family-owned but corporate-style network with significant regional reach.

3. TV9 Network (Associated Broadcasting Company Pvt. Ltd.)
  • Major Channels: TV9 Bharatvarsh, TV9 Telugu, TV9 Kannada, TV9 Marathi, TV9 Gujarati, TV9 Bangla.
  •Note: Backed by private equity investors including My Home Group and Megha Engineering, the network’s editorial tone has been linked to pro-establishment shifts.

4. News Nation Network
  • Major Channels: News Nation (Hindi), News State (regional variants).
  • Note: Known for nationalist tone and strong Hindi regional presence.

5. Republic Network (ARG Outlier Media)
  • Major Channels: Republic TV (English), Republic Bharat (Hindi).
  • Note: Founded by Arnab Goswami, with investment ties to corporate and political circles; combines media activism with commercial news.

5. How Industrial Ownership Shapes the Narrative

1. Advertising Control: Corporate media relies heavily on advertising from government entities and related businesses. This influences editorial neutrality.

2. Employment Hierarchy: Editors-in-chief and anchors are often appointed by boards aligned with ownership, curbing internal dissent.

3. Agenda Setting: Channels prioritize coverage that aligns with business or political interests — from ‘economic reforms’ to ‘national security’ narratives.

4. Silencing Dissent: Critical voices or investigative reports are suppressed or framed as ‘anti-national’ or ‘biased.’

6. Implications for Democracy

• The fourth estate risks becoming an instrument of corporate-state propaganda.

• Public trust in television journalism is eroding as viewers recognize one-sided narratives.

• Independent journalists increasingly move to digital platforms, which now face their own corporate and regulatory challenges.

7. The Path Forward

• Regulatory Reform: Enforce ownership transparency and anti-monopoly measures in media.

• Public Broadcasting Support: Strengthen independent, publicly funded journalism.

• Media Literacy: Equip citizens to recognize bias and trace ownership patterns.

• Diversification of Voices: Promote small, regional, and independent newsrooms free from corporate influence.

8. Conclusion

The Indian television landscape reflects a global trend—the capture of media by economic and political elites. When industrialists with deep ties to the government control major news outlets, journalism risks becoming an extension of corporate strategy.

A free and balanced media requires plural ownership, transparent funding, and editorial independence — without which democracy itself becomes one-sided.

9. References and Sources

1. Network18 Media & Investments Annual Report 2024

2. Reliance Industries Ltd. Investor Relations — Media Subsidiaries Overview (2024)

3. NDTV Annual Report 2023–24, AMG Media Networks Ltd.

4. Zee Media Corporation Ltd. Investor Presentation (2023)

5. Times Group Corporate Profile — Bennett, Coleman & Co. Ltd.

6. Sun TV Network Annual Report 2024

7. Ministry of Information & Broadcasting — List of Permitted Private Satellite TV Channels

8. Reuters Institute Digital News Report 2024 — India

9. Reporters Without Borders (RSF) — 2024 World Press Freedom Index: India

10. Economic Times coverage on media acquisitions (2022–2024)