Republic Media Network discloses extent of Arnab Goswami’s personal shareholding
The statement issued by the network says Goswami controls over 80% equity
The Republic Media Network has issued a statement, clarifying the details of its promoter shareholding.
The network said this is in the wake of a “series of misleading reports in Indian and international media, making false and malafide claims about the exact ownership of the consolidated network.”
The statement says that at the time of the launch of the English Channel Republic TV, Arnab Goswami though his personal investment and family structures entirely controlled by him, had around 84% of shareholder equity through his promoter entity in ARG Outlier Media Pvt Ltd.
It further said that after the initial capital raise to fund the launch of the English channel, Goswami raised further capital for expansion through a small equity raise in February 2019, and since then continues to hold over 82% of ARG Outlier Media Pvt Ltd.
The network has also said that Goswami’s company, of which he is the sole promoter, owns 99% equity in the downstream digital entity that controls the digital assets of the network under the URL www.republicworld.com.
The statement says that Goswami’s three legal and corporate entities are registered in India. “His present controlling equity of 82%+ makes him one of the largest individual shareholders in the Indian news media landscape and the first journalist to achieve this feat.”
“Therefore, Arnab Goswami, the Editor in Chief of the Republic Media Network, is the sole promoter and Chairman of the Board of the Republic Media Network (RMN). This makes the Republic Media Network aside from being solely promoted, a career journalist owned network, which is unique in the context of Indian News Media ownership.”
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