Deccan Chronicle is the leading English daily in AP. It is also published from TN, Karnataka and Kerala. DC has ever faced competition in English from any daily in the state. Hyderabad is the core for it’s circulation. Most of the educated families and bachelors go for DC for various reasons. To be frank, DC run with monopoly in English dailies till Times of India takes ground in HYD. Now DC lost it’s glory and significance.
For doing wrong things and manipulations of it’s promoters good will of DC comes down. IDBI has decided to auction four newspaper titles owned by DCHL namely Deccan Chronicle, Financial Chronicle, Asian Age and Telugu Daily Andhra Bhoomi due to failure to repay 250 Crores. As per IDBI, DCHL got financial assistance from IDBI by way of hypothecation of trademarks of Deccan Chronicle, Financial Chronicle, Asian Age and Andhra Bhoomi with goodwill. The bank decided to transfer trademarks to the highest bidder through the auction. Last month Indiabulls took legal possession of promoter of Venkatarami Reddy. Before that Kotak Mahindra seized it’s printing press in Serilingumpally near HYD.
Deccan Chronicle tastes both rise and fall under the leadership of T.Venktarami Reddy. He was the owner of Deccan Chargers of HYD in IPL. DC won 2009 IPL trophy. As per the buzz, in last IPL season DC had failed to pay it’s dues to the players. At one stage Hero Nagrjuna tried to tookover Deccan Chargers and declined later. DC signed agreement with Ace Indian Badminton player Saina Nehwal as brand ambassador and later she declined to act doe to not paying the amount as per the agreement. DC suspended from NSE for trading. In BSE, script traded for just Rs. 2.30. DC could become a lesson for existing and new entrepreneurs.
