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Message From The Chairman:
It is my pleasure to address you all at this juncture where your Company has achieved the feat of becoming India's largest news network reaching over 100 million viewers, amidst a difficult year for the economy.
India's GDP growth though lowest in 10 years was higher than most countries around the world. The economic reforms and monetary measures undertaken in the year gone by are likely to restore the growth and business sentiments going forward.
2012 has been a year of macro challenges, industry transformation and opportunity unveiling for indian Media & Entertainment (M&E) sector. while M&E sector grew by 12.6%, the advertisement revenues were at a more modest 9.1%. The sector faced challenges like low advertising spends, patchy implementation of cable digitization and stand–off on Government advertising rates. However, the sector has been opened up to immense growth opportunities with improved quality for the viewer and higher subscription revenues.
Your Company became India's largest news network to reach over 100 million viewers across regions and languages. we launched our Hindi news and infotainment channel for central India – Zee Madhya Pradesh/Chhattisgarh taking our bouquet of channels to eight – two national and six regional. During the year, we prepared ourselves for the future of News. we sharpened our strategic edge by creating path–breaking synergistic tie–ups with the Group's Print (DNA) and Digital (india.com) businesses. This would provide us with a competitive advantage through integrated content delivery to our young, diverse and dynamic consumers. in line with our strategy to widen our content mix beyond news, compliance process for change of Company's name to Zee Media Corporation Limited has been initiated.
We continued to remain a strong and responsible fourth pillar of our democracy. we are going to further consolidate our leadership position in indian TV news & infotainment domain by launching news and infotainment channels in Rajasthan and Bihar/Jharkhand in FY14 – to become even stronger in regional markets and changing content mix to strengthen and further grow our existing viewer base. Our strategy to synergize with our Group's digital and print businesses will help us keep pace with changing viewer profile and consumption needs. Considering the business synergies in Print and Electronic Media business, your Board has accorded its in–principle approval for combination of Print Media Business of the Group 'DNA' and News Broadcasting business of the Company.
With continued support and trust of our viewers, shareholders, bankers, employees, partners and the exchequer, we have scaled many new heights. Our programs 'Apka Vote Aapki Taqat' during recent elections, 'My Earth My Duty' on environment and our annual CSR award event 'Ananya Samman' among others went on to win national and international laurels.
I am looking forward to your continued support in our even more exciting and promising journey ahead.