Sniper_Lycan
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It’s no secret that fate of Geo Television is on a downward spiral like a rolling stone on a steep hill. Once known to be the highest rated news channel of the country is now in shambles with a merely surviving number 5 position, resulting in huge losses in terms of lesser advertising revenue flowing their way. Number 5 channels do survive but it has become impossible for a channel like GEO to survive at No. 5 position due to its extremely huge inefficient structure. Being 100% loan and debt financed it is also required to pay huge amounts to its creditors every month.
Geo News faced a financial setback since the almost-suicidal string of events staged by the channel earlier in the year. Now the insiders report that financial situation has gone more adverse than ever, so much so that Geo News has nearly become a white elephant for the network with immense operating expenses including the tab of burdening salaries of employees – whom they fear will leave the instant their salaries were to be held off.
Since Independent Media Corporation Ltd, parent company of Jang and Geo group, is already having a question of integrity in the , private production houses and other stakeholders due to warding off outstanding payments constantly for months. One of their stakeholder, who happens to be a renowned Supplier of our industry, joked, “It is embarrassing for us to even ask them again and again but only get partial meager amount paid every time with just unending promises of full settlements in future, which seems a merely tall claim after all this procrastination! Paisa ayega to agaydengeynaa!”
WHAT’S THE WAY OUT??
An extremely authentic source from the very inner circle of Mir Shakeel ur Rahman(the owner of Geo TV Network and Jang Group) has confided that due to the reason that the entire network is on the verge of a financial debacle, Mir Shakeel has contemplated initially on selling off Geo News as a possible way out As per our source, an interested Dubai based party was being approached by Mir Shakeel but the parties have not struck a deal and the Dubai-based group backed off.
The source also confirmed that now GEO, has resorted to PEMRA to consider converting the License Type of their “headline news” channel, GEO TEZ, into Entertainment Genre. Similarly, with the high costs of maintaining a news-reporting network, the administration is reportedly considering changing GEO NEWS into a “Current Affairs Only” channel. In this way they huge costs of 24/7 maintaining bureaus, news room and news staff will be shed off and the channel will only telecast talk shows and current affairs shows.
Currently the above rumor mill has given rise to mass exodus of employees from left right and center. With no clear communication from the Mir’s, the employees have no clue about the future of the organization. They are trying to grab any offer that comes in their way. The administration has been trying to win this financial battle by promising“tremendous pay rise and flashy designations in near future” to meet the offers from other channels.
Will Geo News be able to make it out of this financial turmoil the same or not, that remains to be seen. However, this goes to show no matter how powerful a media enterprise thinks it is, it is not powerful than the real decider in the equation of power, the VIEWERSHIP!
Mir Shakil ur Rahman and GEO News in deep financial trouble!!!
Geo News faced a financial setback since the almost-suicidal string of events staged by the channel earlier in the year. Now the insiders report that financial situation has gone more adverse than ever, so much so that Geo News has nearly become a white elephant for the network with immense operating expenses including the tab of burdening salaries of employees – whom they fear will leave the instant their salaries were to be held off.
Since Independent Media Corporation Ltd, parent company of Jang and Geo group, is already having a question of integrity in the , private production houses and other stakeholders due to warding off outstanding payments constantly for months. One of their stakeholder, who happens to be a renowned Supplier of our industry, joked, “It is embarrassing for us to even ask them again and again but only get partial meager amount paid every time with just unending promises of full settlements in future, which seems a merely tall claim after all this procrastination! Paisa ayega to agaydengeynaa!”
WHAT’S THE WAY OUT??
An extremely authentic source from the very inner circle of Mir Shakeel ur Rahman(the owner of Geo TV Network and Jang Group) has confided that due to the reason that the entire network is on the verge of a financial debacle, Mir Shakeel has contemplated initially on selling off Geo News as a possible way out As per our source, an interested Dubai based party was being approached by Mir Shakeel but the parties have not struck a deal and the Dubai-based group backed off.
The source also confirmed that now GEO, has resorted to PEMRA to consider converting the License Type of their “headline news” channel, GEO TEZ, into Entertainment Genre. Similarly, with the high costs of maintaining a news-reporting network, the administration is reportedly considering changing GEO NEWS into a “Current Affairs Only” channel. In this way they huge costs of 24/7 maintaining bureaus, news room and news staff will be shed off and the channel will only telecast talk shows and current affairs shows.
Currently the above rumor mill has given rise to mass exodus of employees from left right and center. With no clear communication from the Mir’s, the employees have no clue about the future of the organization. They are trying to grab any offer that comes in their way. The administration has been trying to win this financial battle by promising“tremendous pay rise and flashy designations in near future” to meet the offers from other channels.
Will Geo News be able to make it out of this financial turmoil the same or not, that remains to be seen. However, this goes to show no matter how powerful a media enterprise thinks it is, it is not powerful than the real decider in the equation of power, the VIEWERSHIP!
Mir Shakil ur Rahman and GEO News in deep financial trouble!!!
