Television

Rajat Sharma gets nod for second news channel

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NEW DELHI: After tasting success with India TV, founder-promoter Rajat Sharma is readying to launch his second news channel.

Sharma has got the nod from the Information and Broadcasting Ministry to launch India TV Wiz, a news channel in Hindi and English.

Sharma, who is Chairman of Independent News Service, said the permission was received yesterday. “Wiz will be up in six months, perhaps earlier in beta form. You will see a truly unique bouquet of content that will make it a nationwide phenomena," Sharma added.

The 24-hour channel will be available on analogue cable and all digital platforms. The aim will also be to connect with new-age audiences through the "fast-emerging digital media business, India TV Interactive."

"Wiz will break the mould. It will give premium advertisers a bouquet of screens that support true marketing innovation, reaching their message to top-of-the-line-audiences across Tam cities and the next wave of conditional access markets. Wiz will be plugged on to new media and mobile platforms from Day One. Finally, Wiz will power a world-class partner for international news,” said Sharma.

INS launched India TV in August 2004. Fuse+ Media, an entity of ComVentures, a leading Silicon Valley-based venture capital and private equity group with over $1.5 billion of assets under management, took 19.17 per cent stake in INS for Rs 509 million. This valued INS at Rs 2.70 billion. In early 2008, after another strategic investment, INS's enterprise value climbed to Rs 5 billion.

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