Industry insiders indicate that 9X Media is in the midst of sell – out discussions with two networks currently.
New Silk Route Advisors (NSR) which is private equity fund holds around 80 % in 9X Media, while Pradeep Guha Managing Director holds 15 % stake currently.
In 2013 NSR had announced its plans to sell – off 9XMedia, and was said to be in talks with
‘ strategic investors’.
According to Industry insiders one of the networks’ in talks with 9XMedia include a global television network which was recently rebranded. The other is an Indian group that recently forayed into film distribution last year.
9XMedia’s current bouquet of channels includes, 9XM (Bollywood music), 9X Jhakaas (Marathi music), 9XO (International music), 9X Tashan (Punjabi music) and 9X Jalwa (forever young bollywood music).
“Since 9XM is majorly held by a private equity, by definition there has to be an exit at some point. At the right time, we will let you know. For the time being, no comment.” Said a company spokesperson when exchange4media reached out to them on the matter.
The music TV network was launched as INX Media in 2007 by former STAR India CEO Peter Mukerjea. It was then renamed as 9XMedia with a focus on Music.