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Raj Nayak quits NDTV Media to float own venture

MUMBAI: Raj Nayak is quitting NDTV Media to float a new media company, AIDEM Ventures, that aims to become a major player in India and overseas.
 
Nayak, who is taking his team along with him, will enter into a fresh arrangement with NDTV Ltd. As NDTV Media CEO, Nayak and his team held 26 per cent while NDTV had the remaining 74 per cent.


Set up in 2003, NDTV Media was offering advertising sales service to television channels including NDTV, Mi Marathi and Sahara‘s entertainment channels. 
 
Under the new arrangement, NDTV said it will save substantially on costs. Having renegotiated the terms of engagement, the company said it "will have greater control of its sales operations and at the same time ensure continuity in its revenue stream ... while working very closely with Raj?s new organisation."
 
Founder-promoter Prannoy Roy said, ?NDTV has had a wonderful experience working with Raj and his team over the last 7 years, they are a highly talented and committed team and we look forward to working together with their new company AIDEM Ventures Ltd. under a new win-win relationship. We have full confidence in Raj Nayak?s new venture AIDEM becoming a major media player. ?


Added Nayak, ?In my 23 years of experience, I ?ve had the opportunity of handling some of the biggest media brands in India like ESPN STAR Sports, STAR TV Network & many more... but launching NDTV channels in 2003 with Radhika and Prannoy Roy & the NDTV team was one of the most exciting & challenging assignments of my career.


The brand equity of NDTV is unparalled ? and sets an example on how to maintain a solid Chinese wall between commercial considerations & editorial independence. We?ve shared & continue to share a great professional relationship & personal friendship & I am thankful to the NDTV Management for continuing to place their faith in me & my team, and entrusting my new company with the responsibility of continuing with their business."
 

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