One of the largest television networks in the country, Sony Pictures Network's long-time boss, NP Singh, will be stepping down from the position of managing director and Chief Executive Officer after 25 years leading the company. It is to be noted that Singh, according to his own statement, is expected to continue in the position until a new name and successor are found.
At The Helm Since 1999
NP Singh has had a 44-year career in the industry, and he started his stint at one of the biggest networks in the country in 1999, when private-run television channels were finding their groove and expanding in the market with immense potential.
Once the company designates a successor, Singh will shunt into an advisory role. According to reports, Singh said that he is ready to focus on social change and transition into an advisory position.
In a message he said, "I will continue to lead SPNI until we find the right person to take over. We have begun a structured succession planning process for my successor and hope to have exciting news to share in the near future. Finding the right fit is our top priority."
Under his regime, the market transformed from a market with a few players, still dominated by public-owned networks, to a much more diverse market, with almost countless players.
Sony Pictures Networks India or Culver Max Entertainment, is the Indian arm of American Sony Television, which in turn is owned by Japanese giant Sony Corporation. |
Sony Has 8.3% Of Market
Sony Pictures Networks India or Culver Max Entertainment, is the Indian arm of American Sony Television, which in turn is owned by Japanese giant Sony Corporation.
As of 2020, according to Statista, Sony is positioned fifth behind Star-Disney, its now rival Zee Group, followed by Kalanithi Maran-owned Sun Network and Reliance's Viacom with 8.3 per cent of the Indian market.
It was during his regime that a much-talked-about and eventually vociferously fought merger with Zee Network collapsed. The merger deal that could have changed the industry on its head, formulating the biggest TV network, but what was in store was something different.
The two companies faced each other off in court, as the deal crumbled. In the most recent of all developments, the Subash Chandra and Puneet Goenka-run media company has demanded compensation or a termination fee of USD 90 million from Sony.
