Television

9X Media sale: Pradeep Guha & Rajat Sharma rubbish reports

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2016/11/30/rajat-800x800.jpg?itok=lByLabgP

MUMBAI: The entities that were said to be involved in acquisition talks have no clue about the development. It seems to be pure speculation.

The media and entertainment industry was since morning rife with speculation that India TV promoter Rajat Sharma is acquiring a controlling stake in the New Silk Route (NSR)-backed 9X Media. Reports emerged in the last few hours that also state the value of the deal was Rs 200 crore (Rs. 2,000 million).

9X Media?s CEO Pradeep Guha, however, rubbished this news. He told Indiantelevision.com, ?All the reports are absolutely rubbish. We are not selling 9X Media.? When Rajat Sharma was contacted, he retorted: "I have no idea where these reports are coming from. I am out of the country. All these reports are absolutely false."

Though, Sharma has been keen on evaluating several opportunities to diversify the business portfolio of Independent News Service, which depends entirely on advertising revenue from India TV, acquiring 9X Media is not in his list. Yet. Sharma and his wife Ritu Dhawan are the largest shareholders of INS, which is the parent company of India TV. They own close to 60 per cent stake in the company.

According to reports that are making the rounds in the industry, Sharma may seek help for the fund transaction from existing investors in INS like the Silicon Valley-based media investor Keyur Patel who also owns a stake in NDTV through his CV Global Holdings, a Mauritius based investment arm.

NSR was earlier looking to sell its 80 per cent stake in 9X Media to Sony Pictures Networks in August. Its CEO Pradeep Guha directly owns five per cent stake whereas 9X Media Employee Trust has a 13 per cent stake. NSR has Drag Along/Tag rights over Guha?s shareholding and can cause him to sell his entire holding if the transaction materialises.

9X Media was founded in 2007 by Peter Mukerjea and Indrani Mukerjea and owns a bouquet of music channels that include regional language channels in Marathi and Punjabi. Its flagship channels are 9XM and 9X Jalwa.

The rise of India TV as India's leading news channel within a fairly short span of its existence owes a lot to the vision of its chairman and editor-in-chief Rajat Sharma who, along with his wife Ritu, leads a team of professionals.

Sharma, considered close to the ruling Bharatiya Janata Party, co-founded India TV with his wife Ritu Dhawan in April, 2004 from a swanky studio-cum-office in Film City, Noida. Sharma and Dhawan had set up their own production house, Independent News Service (INS), the parent company which owns India TV, in 1997 that has now transformed into a broadcasting company --- a la NDTV and TV18/Network18.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/13/zee.jpg?itok=Rw8Tfbjd
Essel Group engages Goldman Sachs to sell half its stake in Zee Entertainment

Mumbai: 13th November 2018, Subhash Chandra and family along with its advisors met in Mumbai over the Diwali weekend to undertake a strategic review of its businesses in view of the changing global media landscape. The strategic review underscored the importance of technological advancements...

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/13/sony.jpg?itok=RWws_WoP
Neville Bastawalla to take over as marketing head of SPN India sports cluster

Sony Pictures Network (SPN) has made some internal changes and handed the responsibility of heading marketing for the sports cluster to Neville Bastawalla, a source close to the development informed Indiantelevision.com.

Television TV Channels Sports
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/13/ganga.jpg?itok=dPGLZyYn
Big Ganga Sets up Safe Changing Rooms for Women During Chhath Puja

Riding on the success of multiple initiatives, ZEE Entertainment Enterprise Limited’s No. 1 Bhojpuri Channel, Big Ganga introduces a much-needed social initiative - ‘Ek Kadam Swabhiman Ki Aor’ on the occasion of one of the most popular festivals of the region, Chhath Puja.

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/13/kids.jpg?itok=yvGnQLXi
Most awaited awards of the year - Nickelodeon Kids Choice Awards 2018 is back, bigger than ever!

It’s time to blow the trumpets and roll out the orange carpet for Nickelodeon Kids Choice Awards 2018.

Television TV Channels Kids
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/13/kumkum.jpg?itok=RCbjy0Of
Zee TV leads GEC urban in BARC week 44

Zee TV that was on the fourth position in the previous week climbed to the second position in the Hindi (U+R) genre in Broadcast Audience Research Council (BARC) data for week 44 of 2018.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/12/nushka.jpg?itok=u1AhchW9
Anushka Sharma joins hands with Discovery to promote Tiger Conservation Movement

Leading Bollywood actress Anushka Sharma has joined hands with to promote a global awareness movement to save tigers from extinction.

Television TV Channels Factual @ Discovery
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/12/Untitled-1.jpg?itok=5g9OEhsK
Shemaroo Entertainment brings back the Golden Era of Nimmiji

Shemaroo Entertainment’s retro music channel Filmi Gaane launched a compilation of 35 songs of 1950’s veteran actress Nimmi by the name “SUPERHITS OF NIMMI - The Vintage Beauty”.

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/12/star.jpg?itok=C67XVMCc
Star India publishes RIO as per TRAI tariff order

After Supreme Court of India gave the verdict in favour of Telecom Regulatory authority of India (TRAI) in the tariff order case.

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/11/12/cnbc.jpg?itok=L4vaERIT
CNBCTV18.com and CNBC-TV18 break new ground with launch of educational web series — Mutual Funds Simplified

CNBCTV18.com, the premium financial news digital platform, and CNBC-TV18, India’s No. 1 business new channel, will launch a new digital series named “Mutual Funds Simplified” on November 13, 2018.

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories