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NDTV, Raj Nayak’s Aidem Ventures to split

MUMBAI: NDTV Ltd. has decided not to renew its ad sales contract with Raj Nayak-promoted Aidem Ventures from 1 April, according to sources familiar with the development.


NDTV had outsourced its ad sales to Aidem Ventures for one year, after Nayak quit as CEO of NDTV Media to float his own company. NDTV had bought back Nayak and his team‘s 26 per cent stake in NDTV Media, a company that was handling the ad sales of the broadcasting company.
 
The split was in course and an official announcement is expected to be made soon. NDTV had earlier revised the estimates of the fee payable to Aidem in the third quarter of the fiscal, in keeping with the terms of the arrangements and accordingly reversed the provision amounting to Rs 50 million recognised in the earlier quarters.


NDTV has started talking with at least two media outfits including Star India to outsource its ad sales, sources said. The company is also considering managing its own ad sales by forming an internal team.


"All the options are open but the most likely course would be to outsource ad sales. Star seems the favourite choice at this stage but anything can happen. Nothing is signed yet," a source said.
 
Nayak could not be reached for his comments.


When contacted, Star India CEO Uday Shankar did not want to comment on the issue.
 

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