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UPDATED: Kartikeya Sharma-led Information TV buys out NewsX

16-July-2012
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UPDATED: Kartikeya Sharma-led Information TV buys out NewsX

Further to exchange4media’s report earlier today, English general news channel NewsX has been bought over by Kartikeya Sharma-led ITV Media (Information TV) that operates Hindi news channel India News. As is known, NewsX has been on the market for a while.

A part of Piccadilly Group, ITV is the parent electronic media company for the Group. It also has presence in Haryana and Bihar through region-specific ‘India News’ channels.

Kartikeya Sharma confirmed the development to exchange4media saying that NewsX was a “logical extension for Information TV” as foothold in the English news domain allowed a wholesome offer to advertisers and agencies.

As is known, NewsX was launched originally as part of INX News on March 28 2008. Following the slowdown of 2008, in January 2009, INX news owners had to sell NewsX to Indi-Media Network, a partnership between the former NaiDunia CEO Vinay Chhajlani and former Businessworld editor Jehangir Pocha.

Following the development, Jehangir Pocha would continue to be part of NewsX as its Editor-in-Chief. The deal however marks the end of Vinay Chhajlani’s association with NewsX.

In the last three years, NewsX has stayed focussed on the English news domain. The deal allows NewsX to be finally be a part of a news network, which given the current Indian market dynamics, can be crucial to the very survival of a news channel.

For the record, Piccadilly Group also owns GMI (Good Morning India), which is its print division that publishes daily Hindi newspaper ‘Aaj Samaj’ and weekly political and social affairs Hindi magazine ‘India News’. Aaj Samaj is published from Delhi, Chandigarh, Gurgaon, Ambala, Panchkula, Mohali and is in the process of launching multiple editions of this newspaper all over Northern India.
 

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