Struggle for Succession

The Hindu (newspaper), having a 132-year legacy, probably is a standing symbol of the Indian democracy extolling ideals like the 'freedom of the press'. The reverence it commands stems from the fact that it was founded in the pre-independence era and was a tool for nationalistic propaganda that struck a chord among the people.

As the latest issue of Forbes India says, all it takes to begin a day in Chennai are 3 things - filter coffee, carnatic music and a crisp copy of The Hindu. Having been born and brought up in Chennai, newspaper has been synonymous with The Hindu to the extent that whenever my mother wanted to spread a sheet of newspaper on a shelf, she used to ask me to bring 'Hindu paper' :-) The odd mornings after festivals like Ayudha Pooja, Deepavali used to be simply boring since there wouldn't be a newspaper to read. (Offices of The Hindu were closed on such festival days)

The Kasturi Iyengar family has been at the helm of The Hindu since 1905. The family holds a strong control over the management and editorship. However, changes in editorial style have irked a whole lot of loyals over the years. With N Ram taking over as editor-in-chief in 2003, editorials took a strong leftist leaning which was openly opposed by a lot of passionate readers. The 'Friends of Tibet in India' even went up to the extent of staging an open protest against pro-Chinese anti-Tibetan editorials and news, via the 'Save the Hindu' campaign in 2007. Ram's stronghold on the newspaper prompted many members of the younger 5th generation (18 cousins in all) to write to all shareholders (the family) demanding the separation of ownership and management. They proposed better corporate governance practices. (The Business Line suffers an annual loss of Rs 15 crore)

However, recent developments in the boardroom where Ram refused to stick to his promise of retiring at the age of 65, along with new appointments, have led to a power struggle. The Indian Express has dubbed this as the 'The Hindu very divided' family. Ram tweeted in rage (see above) and his brother N Ravi fired a salvo at him in response (see below) - a la Modi and Tharoor.

While this turns into an ugly battle, competitors like Times of India are slowly winning the market battle. Unless The Hindu takes drastic steps to set its house in order and then improve its business, it may soon find itself drowned in its own legacy. The modern young newspaper reader will only move on!

Looks like it's the age of succession struggles in Chennai! While all attention is on the Karunanidhi family, here's another one worth a watch :-)