In re: NDTV - Business failure? Embezzlement? Both?

I grew up watching starting from DD to DD Metro to Star News & then its own channel. While other teenagers/young adults watched Star World/Star Plus (depending on their family systems), I watched NDTV.

(I now watch other networks - mostly Hindi.) What I haven't understood is that why was NDTV in a financial mess even when the UPA which it was allegedly close to was in power? Even assuming that they didn't get favors, they had great advertising equity & decent TRPs.

Why could it never grow from having its headquarters in half or less of Archana Complex to something bigger? Why did the network keep shrinking rather than growing - even pre 2014.

Where did the money go? "नमक मे आटा" type reasons?