Shares of Balaji Telefilms Ltd. (BLJ) tumbled after the company informed the BSE that its content provider for a popular soap was terminating its contract as of Nov. 10, 2008.
The soaps priduced by Balaji Telefilms, run by TV-queen Ekta Kapoor, have often been criticised for their mindless content and endless dialogues and quotes from religious texts. However, many Indian homes thrive on such programming and the shows account for massive revenues for Star Plus, run by Rupert Murdoch's Star Network (he also owns the world's largest media conglomerate, News Corporation (NWS)).
However, it has also been learned that some 'fresh' programming is being worked out to replace the (iconic?) soaps.