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Chandrasekhar had acquired a 51% stake in the Asianet channels (Asianet, Asianet News, and Asianet Plus) through Jupiter Entertainment Ventures (JEV) in October 2006. At the time, Asianet was the leader amongst the Malayalam channels accounting for 35% of Kerala's total advertisement market. In late 2006 Reji Menon - after months long speculations - partially pulled out of Asianet turning over control to Rajeev Chandrasekhar.
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This was apparently because the severance agreement with the cable company prohibits the channel's takeover by a company with interest in cable operations. Īfterwards an attempt by Zee Group to acquire Asianet from Menon fell through. Menon used the consideration the Rahejas paid him to provide Kumar a "golden handshake".
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While Kumar resisted overtures from the Rahejas, Menon negotiated a deal with them, and under the deal, the Rahejas got full control over the cable company. The Rahejas later wanted a stake in the channel operations too. The channels were still owned by Sashi Kumar (50% shares) and Reji Menon (50% shares). When Asianet faced a financial crunch, the real estate firm Rahejas was given 50% stake in the cable operations. Kumar was a former head of Press Trust of India's television division and his relative Menon was a Moscow-based businessman. It was promoted by Sashi Kumar with seed capital provided by Reji Menon. HistoryĪsianet Communications was the first entertainment television company in Malayalam. STAR India acquired 100% stake in Asianet Communications in March, 2014. STAR India bought a 51% stake in Asianet Communications and formed joint venture with JEV in November, 2008. In late 2006 Reji Menon partially pulled out of Asianet Communications, turning over control to Rajeev Chandrasekhar (Jupiter Entertainment Ventures).
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The channel was originally promoted by Sashi Kumar with seed capital provided by Reji Menon in the early 1990s.