Arnab Goswami buys back Asianet stake in Republic
Goswami said Asianet’s strong track record & competence as savvy media tech investors has helped Republic TV tremendously; going forward he wants to diversify Republic across all platforms
On the eve of their two year anniversary, Republic TV transforms into Republic Media Network. This anniversary also marks a major milestone for the company as its valuation according to reports commissioned by the company is said to be around 1,200 crore in just two years.
According to media reports, the Republic Media Network is now on track to being a completely Editor controlled company after recent agreements by Arnab Goswami to buy back shares from investors like Asianet News Media, who in turn have made strong returns on their investment.
Speaking on this development, Rajeev Chandrashekhar said, “I am pleased with the growth and success of Republic and Arnab. I am happy to have supported the vision of building a strong media-tech platform. In pure financial terms too, this has been a successful investment. Post Arnab’s buying back of some shares, Asianet News Media will continue to support Republic, however as a minority portfolio investor.”
Arnab Goswami, MD and Editor in Chief of the Republic Media Network said, “We have built a strong media brand in partnership with Asianet News Media - and are poised for growth. We have expanded rapidly in the last two years. Partnering with Asianet News Media has been terrific. Their strong track record and competence as savvy media tech investors has helped us tremendously in our exponential growth. Going forward as Republic Media Network, I look forward to diversifying and growing Republic across all platforms.”
In two years Republic TV has managed to create a leading English news brand and launched their Hindi news channel, Republic Bharat, recently. The company has not announced any plans for an IPO so far.
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