The channel was launched in 1991 much before any other channel started beaming programmes and soon ATN music rose to become the country's first music channel.

However, due to a downturn in the market in 1995-96, the channel could not come out with the planned public issue of Rs 250 crore. The equity based business plan without any institutional debt, therefore, became unviable. ATN was also unable to service the short-term debts obtained before the public issue was planned and the channel had to suspend its operation.

Almost all claims made by the creditors have been settled favorably out of court and repayment moratoriums have been signed. This enabled ATN Music to relaunch its operations and regain its pre-eminence as India's No 1 music channel. In this connection, Mr V Modi, representing Powerpack Finance & Sterling Investments, one of ATN's main creditors who have settled out of court, said that they have full faith in Mr Sidharth Srivastava of ATN Music. "Mr Srivastava's pioneering experience will be invaluable in combating the current spate of competition from a host of music channels by creating innovative programming and marketing strategies," Mr Modi said. "We are certain to break even in the very first quarter since ATN has a very powerful brand recall. Just a couple of years back it's ratings were twice that of all other music channels put together," said Mr Srivastava, who heads the ATN Music channel.

Plans for the channel, including new programmes that are sure to thrill millions of music lovers in India, are to be announced soon.