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Says
ITV MD Kartikeya Sharma, “This is a logical market expansion
for us and enables us to enter the English news domain while strengthening
our presence in the broadcast and digital media space. NewsX has
emerged as a quality news provider with great growth potential and
making it part of our group’s network of seven regional news
channels will bolster news gathering abilities and create multiple
synergies all around.”
Sharma
is also the managing director of Piccadilly Group of Companies,
which has interests in media, hospitality, agro business and infrastructure.
Piccadilly runs Hindi news channel India News, besides state specific
channels like India News Haryana and India News Bihar. Kartikeya
is son of leading Haryana Congress leader Venod Sharma and the brother
of Manu Sharma, a convict in the Jessical Lal murder case.
Good
Morning India, Piccadilly's print media division, publishes a daily
Hindi Newspaper called ‘Aaj Samaj’ from Delhi, Chandigarh,
Gurgaon, Ambala, Panchkula, and Mohali. It also runs a political
and social affairs magazine in Hindi called India News Weekly Magazine.
In
a joint statement Chhajlani and Pocha said, “We are happy to
hand over the channel to the ITV Group and acknowledge the contribution
of the team that has earned NewsX much recognition. Being part of
the ITV Group will help NewsX transcend the limitations of being
a stand-alone channel and give new thrust to the channel’s
editorial and commercial development.”
INX
News was started by Mukerjea and his wife Indrani, but was subsequently
sold to IndiMedia following the couple's unsuccessful attempt to
run the news channel.
According
to media analysts, one of the reasons for ITV Media to gobble up
News X is that it would save the company from the procedural delay
of obtaining a licence.
"The
acquisition will also provide a ready-made infrastructure. But how
much of a strategic advantage it will bring in a space that is overcrowded
remains to be seen," an analyst at a broking firm said.
Also
read:
NaiDunia,
Pocha buy NewsX
Zee
meets but no deal on NewsX
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