There’s been a heady buzz around Reliance Industries CMD Mukesh Ambani and private equity fund Temasek Holdings funding a TV broadcasting company started by former STAR Group CEO Peter Mukerjea and other media professionals, for a while now. The investment was supposed to be around $300 million. Indiantelevision.com, quoting a source, confirms that news here, and adds while there is no foreign equity holding, there are a group of individual investors and Mukerjea and other media professionals will be minority stakeholders. Around 8-10 TV channels planned, starting with a general entertainment Hindi channel and an English news channel (more here), and I’m wondering if there’s any credence to the buzz that Vir Sanghvi will be leaving Hindustan Times to join this venture.
In an industry that is already struggling with churn, expect a fresh round of poaching…
Related:
– Mukesh Ambani, Temasek To Back Peter Mukerjea And Others For Broadcast Venture?
$300 Million Funding For Mukerjea Led TV Venture
Summary:
There’s been a heady buzz around Reliance Industries CMD Mukesh Ambani and private equity fund Temasek Holdings funding a TV broadcasting co…
"…confirms that news here,"
Still speculative it seems to me. There are no quotes from the involved parties.