Asianet News

 

The Asianet channel company and a cable company bearing the same name were promoted by Sashi Kumar with seed capital provided by Reji Menon. When the companies faced a financial crunch, the real estate firm of Rahejas helped, and it was given 50% stake in the cable operations. As business prospered, the Rahejas wanted a stake in the channel operations too. While Sashi Kumar, who held half the shares, resisted their overtures, Reji Menon, who held the remaining half, struck a deal with them. Under the deal, the Rahejas got full control over the cable company. An attempt by Zee Group to acquire Asianet from Menon fell through apparently because the severance agreement with the cable company prohibits the channel’s takeover by a company with interest in cable operations