Epaper
Sakshi Telugu daily and television channel, promoted by YSR Congress Party president Y S Jaganmohan Reddy, have started feeling the pinch of huge losses they have been incurring for the last two days.
Though Jagan is considered to be financially sound with deep pockets, he too has apparently realized that he cannot pump money continuously into the media house, especially since the government has started attacking his financial roots.
Moreover, those big players who had invested their monies in Sakshi are now said to be gradually backing out, as the Income Tax authorities are hounding them.
So, being a shrewd businessman, Jagan has decided to prune the overhead expenses in Sakshi. In the initial stages, Sakshi lured senior journalists from Eenadu and Andhra Jyothy by offering them huge salaries, ostensibly to hit these two dailies below the belt.
The editorial desk was filled with a large number of professionals brought in from other media. Now, with the management deciding to prune the staff, the surplus journalistic staff is being shown the door. In the last couple of months, more than 20-25 journalists were forced to resign.
The management has adopted an innovative technique to get rid of the journos: transferring the Telangana journalists working in Hyderabad to remote places in Rayalaseema and Coastal Andhra; and those belonging to Andhra region to remote places of Telangana like Adilabad. While a few accepted the transfers due to financial constraints, many others had no other option but to resign!