Fewer players, less creativity marks Indian media & entertainment industry

The crowded and somewhat vibrant media and entertainment industry in India is cleaning out with a spate of mergers. What’s emerging are just 3-4 large players after the exit of many of the big media conglomerates like NewsCorp (Star TV) and Viacom. Unhappily, the consolidation is in news media too, leaving a narrower choice for the discerning news junkie.

A few days ago, the Adani group created ripples when its media company AMG Media Networks acquired 50.5% stake in the new agency Indo-Asian News Service (IANS). The agency, launched in 1986 by the India-American publisher Gopal Raju, was earlier christened the India Abroad News Service, and made a mark in distribution of ‘sub-continent’ news in international markets.