Two months after the management of MOJO TV changed hands, the channel could be on verge of shutting down. Around 15 department heads were called for a meeting by the management on Friday to apprise them of the situation. According to a journalist associated with MOJO TV, the management told the HoDs that when it took over MOJO TV, it did not realise that it was not viable and now it does not have funds to keep it going even for another month.
The channel was earlier backed by Ravi Prakash, the former CEO of TV9 and has 160 employees on its rolls. It is now owned by people close to Alanda Media which owns TV9.
MOJO TV reportedly incurs a monthly expenditure of close to Rs 60 lakh per month. While the management’s intention was to mentally prepare the employees for the situation, the contracts drawn up with the employees at the time of hiring stipulated that if any of them was asked to go, the company needed to pay three months of salary in lieu. Employees are apprehensive over whether the new management will honour the contract drawn up by the previous management.
Those familiar with the working of MOJO TV also point out that it is strange that the new management took over the channel without having done due diligence and suspect this is a deliberate move to shut it down.
Last month, the former CEO of MOJO TV, P Revathi was arrested in a SC/ST related case and she spent a week in judicial custody. Ravi Prakash has secured anticipatory bail even as questioning is going on in cases of forgery filed against him by Alanda Media.