Does BTVI have a new owner?
The transaction, however, is still under process say promoters of TNP Group that now holds 100% equity in the channel
On the blocks for a long time now, Anil Ambani owned business news channel BTVI has a new owner, the TNP Group. The transaction, however, is still under process say the promoters of TNP Group that now holds 100% equity in the channel. Interestingly, the new owners of the channel are not from the media industry.
Vaibhav Tiwari who was part of BTVI as Senior Vice President has been made the COO of the company. Vaibhav is a television media veteran whose earlier stints include working at Star TV, Times Now and Bloomberg TV.
The TNP group is a Delhi-NCR based agri-based food processing company that also has other business interests in Airline, Shipping, Infrastructure and Consultancy services. “We are always on the search of sick but promising units. We purchase such businesses in auction and look for investors or add it to our own portfolio depending upon the nature of business. BTVI is one such acquisition. The TNP Group has offices in Dubai, Singapore and New York and is a rapidly growing company.
But will BTVI be up and running again anytime soon? The financial viability of reviving the channel is under consideration which includes paying off all past debts.
“We will run the channel when we see solid business viability. The plan is to launch a Hindi News channel with focus on the rural heartland of India. This includes scouting for Journalistic and Reporting talent in the North Indian rural belt.
After a long period of financial struggle, on September 1, 2019 the news channel took to social media announcing pausing of their broadcast operations. It has been a tumultuous journey for BTVI through out. The channel was relaunched as BTVI in August 2016 by the now-bankrupt Anil Ambani group. Before that the channel was on air for 8 years as Bloomberg TV India.
Long time before the channel finally shut shop, BTVI was in talks with several media houses. A deal with a popular media house that has news offerings across genres but business was keen on the acquisition. However, the deal fell through towards the end of 2019.
The TNP Group which has aggressive plans in the Media space has also roped in Media veteran Vivek Tiwari who was earlier SVP - SET and CEO of Channel 9 to head their Entertainment & Sports division. Channel 9 incidentally launched the Bangladesh Premiere League.
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