According to media reports, Raghav Bahl’s Quintillion Media and Sanjeev Kapoor’s FoodFood have applied to the Foreign Investment Promotion Board (FIPB) to get clearance for their FDI proposals.
Quintillion Media had entered into a partnership with Bloomberg in April for the launch of a new broadcast and digital property called BloombergQuint. On the other hand, FoodFood has seen Discovery Networks buy a majority stake in the company last month. FoodFood was launched as a JV between Sanjeev Kapoor, Sandeep Goyal-led Mogae Consultants and Astro Overseas in 2011. As per the new arrangement, both Mogae and Astro are expected to exit the JV.