NewsX finds a benefactor in owners of India News & Aaj Samaj [updated]

16 Jul,2012

By A Correspondent [updated]

 

The ITV Group promoted by Kartikeya Sharma and its associates have acquired control of INX News Pvt. Ltd. which owns and operates the English news channel NewsX.

 

Speaking on the occasion Mr. Sharma, Managing Director, ITV said, “This is a logical market expansion for us and enables us to enter the English news domain while strengthening our presence in the broadcast and digital media space.  NewsX has emerged as a quality news provider with great growth potential and making it part of our group’s network of seven regional news channels will bolster news gathering abilities and create multiple synergies all around.”

 

In 2009, Mr. Vinay Chhajlani and Mr. Jehangir S. Pocha had joined hands to run NewsX.  In a joint statement Chhajlani and Pocha said, “We are happy to hand over the channel to the ITV Group and acknowledge the contribution of the team that has earned NewsX much recognition.  Being part of the ITV Group will help NewsX transcend the limitations of being a stand-alone channel and give new thrust to the channel’s editorial and commercial development.”

 

Our earlier report:

Indi Media Network-owned English news channel, NewsX has finally found a suitor in ITV Media (Information TV). The details of the financial transaction are not known yet, though sources close to the development have confirmed the news to MxMIndia.

 

ITV Media is the parent electronic media company which broadcasts 24/7 Hindi news channel, India News. ITV Media is part of the Piccadilly Group which also runs a print division that publishes a daily Hindi Newspaper, Aaj Samaj as well as a weekly Hindi magazine, India News. Headed by Mr Kartikeya Sharma, the company also has two regional news satellite channels, India News Haryana and India News Bihar. Mr Sharma is son of leading Haryana Congress leader Venod Sharma and the brother of Manu Sharma, a convict in the Jessical Lal murder case.

 

NewsX which was earlier owned by INX News, was launched with much fanfare in March 2008. Later in January 2009, it was bought over by Indi Media Network, a partnership between the then Nai Dunia CEO Vinay Chhajlani and Businessworld Editor Jehangir S Pocha.

 

Mr Pocha is currently CEO and Editor-in-chief of NewsX. An official announcement was made by Mr Pocha to the existing staff about the transaction in the afternoon and the new management is likely to speak to the team later today. MxMIndia learns that Mr Pocha reassured the team that he will continue as Editor-in-Chief. There were indicators that some resource sharing may happen with IndiaNews. A press communiqué is also to be issued.

 

 

 

 

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