Ltd, promoted by Mukerjeas along with a clutch of investors. Peter Mukherjea was formerly head of television media group Star India. Indrani Mukerjea owned around 74% stake in INX News, including 5% employees sweat equity. The rest was held by INX Media and the investors.
Chhajlani, through a new company, Indi Media Co. Pvt.Ltd, has bought out all the investors in INX News. He has roped in Jehangir Pocha, the outgoing editor of ABP Pvt. Ltd owned English weekly, Business World, to head operations at NewsX. “For the next one month, I will be part of the transition team at Business World and NewsX both,” said Pocha, who will eventually take over as NewsX’s editorial director. He also holds part stake in Indi Media.
In the past few months, media industry had been rife with speculations that Mukerjeas were looking for a buyer for their entire broadcast operations. INX Media runs a Hindi general entertainment and a music channel.Indrani, however, said on Friday the company wouldn’t sell the other two channels in the near future. “We sold our news operations because we got a good proposition. There are no immediate plans to sell the general entertainment or music channels,” she said.
At present, there are six 24-hour English news channels in the country. According to Mumbai-based television audience research firm TAM Media Pvt. Ltd, in the five weeks ended 27 December, NewsX ranked fifth in the list with 9.5% channel share.Times Now, CNN IBN, and NDTV 24x7 were the top three television news channels with 30.6%, 26.6% and 22.6% channel share, respectively, during the period.