Subhash Chandra
Subhash Chandra Goenka | |
|---|---|
| Born | November 30, 1950 Adampur, Hisar district, Haryana, India |
| Occupation(s) | Media entrepreneur, businessman, politician |
| Known for | Chairman Emeritus of ZEE, Chairman of Essel Group, Founder of Zee TV |
Subhash Chandra Goenka (born 30 November 1950) is a prominent Indian billionaire and influential media entrepreneur. He holds the title of Chairman Emeritus at ZEE and serves as the Chairman of the Essel Group, a leading Indian media conglomerate. In 1992, he established Zee TV and led Zee Media as chairman until his resignation from the roles of Director and Non-Executive Chairman on 24 May 2016. In the 2016 Rajya Sabha elections, he was elected to the Upper House of the Indian Parliament representing Haryana as an independent candidate with backing from the Bharatiya Janata Party (BJP).
On 31 May 2022, Subhash Chandra filed his nomination for the Rajya Sabha elections from Rajasthan as an Independent supported by the BJP but was unsuccessful.
Early years
Subhash Chandra was born into an Agarwal Bania family in Adampur, located within the Hisar district, Haryana. According to Forbes India, his birthplace was in Rajasthan, from where he relocated to Hisar during his childhood. His family initially faced a debt burden of , which he managed to clear. Due to financial constraints, he discontinued formal education in 1965 and joined the family enterprise that supplied rice to the Food Corporation of India.
During the 1980s, he ventured into flexible packaging production through Essel Packaging and inaugurated Essel World, a recreational park situated in Mumbai.
In 1992, he introduced Zee TV, marking India's second private commercial television channel, in collaboration with Star TV based in Hong Kong. Later, in 2003, he launched Dish TV, India's pioneering satellite television service.
Business
Chandra established Essel Propack (currently EPL Ltd) in 1981 as India's first manufacturer of laminated tubes; this company was acquired by Blackstone in 2019.
He pioneered India's first amusement park, Essel World, along with Water Kingdom, recognized as Asia's largest water-themed park, both inaugurated in 1989.
In 1994, he founded Siti Networks, one of India's earliest multi-system operators, followed by the launch of Dish TV in 2003.
His flagship channel, Zee TV, which began broadcasting in 1992, competes with Sony Entertainment Television and STAR Plus. Presently, the Zee network operates approximately 90 channels that reach an audience of about 1.3 billion viewers across 174 countries.
In collaboration with the Dainik Bhaskar group in 2005, Chandra launched the English-language daily DNA in Mumbai aimed at competing with The Times of India. Although initially facing losses, the publication eventually improved its performance before ceasing operations by October 2019.
On 25 November 2019, Chandra stepped down as chairman of Zee Entertainment Enterprises due to SEBI regulations but continued to serve as a non-executive director.
His autobiography titled ‘The Z Factor: My Journey as the Wrong Man at the Right Time’ elaborates on his early involvement with the Rashtriya Swayamsevak Sangh and political support received from BJP members as well as representatives from other parties.
On 22 May 2020, Essel Group defaulted on ₹616 crore worth of secured NCD bonds under a standstill agreement backed by Chandra’s personal guarantee, impacting close to 300,000 investors.
In August 2020, following his resignation as non-executive director at Zee Entertainment, Chandra was appointed chairman emeritus, retaining an honorary position within the organization.
Awards
- Ernst & Young's Entrepreneur of the Year [1998]
- Business Standard's Businessman of the Year [1999]
- International Brand Summit's Enterprising CEO of the Year [1999]
- FICCI's Global Indian Entertainment Personality of the Year [2004]
- Lifetime Achievement Award presented at the CASBAA Convention [2009]
- Honorary Doctorate in Business Administration awarded by the University of East London [2013]
- Induction into the INBA Entrepreneur Hall of Fame for sustained industry contributions [2010]
- Recipient of the International Emmy Directorate Award [2011]
- Chanchlani Global Indian Award from the Canada India Foundation