Battling insolvency proceedings, The Pioneer media group is gearing up to undergo a major facelift. The group is planning to augment its revenue, improve its contents, and radically change its digital presence through the introduction of new technology, new marketing strategy and revamping of its circulation.
The senior employees of the newspaper both from the management and the editorial side met on Saturday under the leadership of NCLT-appointed Interim Resolution Professional (IRP) Ranjeet Kumar Verma where it was decided to effectively tackle the “existential” challenge the one of the oldest media houses in the country is facing.
“I am here as a representative of the court and my main objective is to keep The Pioneer group as a going concern. I’ve no score to settle or no axe to grind. I want the cooperation of everyone to make The Pioneer a vibrant brand again, both in Hindi and English,” Verma said during the course of an exchange of idea session. He added that he expected the company operation to return to normal in a short while.
The IRP assured the employees that their priority would be look into a range of serious issues flagged by them regarding their remuneration and staff shortage. “I will do everything possible to create a proper atmosphere so that everyone can contribute to the revival of the company,” he said.
He said he didn’t believe in a witch-hunt, but he expected everyone to help him implement the court’s order in letter and spirit.
The Delhi bench of the National Company Law Tribunal (NCLT) last month initiated insolvency proceedings against the CMYK Printech , which runs the operation of The Pioneer newspaper, following a plea by one of its directors.
