Zee Network Plans To Acquire NewsX
Zee Networks is planning to acquire 51% stake in NewsX, English news channel.
If the deal goes through, it will mark Zee's entry in English news space. It will compete with Times Now, NDTV 24x7, CNN-IBN and Headlines Today.
NewsX is jointly promoted by Nai Dunia owner Vinay Chhajlani and the former editor of BusinessWorld, Jehangir Pocha, which they bought it in 2009 from INX Media Private Limited.
INX Media Pvt Ltd was launched in 2007-08 by Peter Mukerjea who raised $170mn from Temasek Holdings through Dunearn Investments, New Silk Route Partners, Kotak Mahindra Capital, New Vernon Private Equity and SREI.
The company went for a restructuring in 2009, where Peter Mukerjea and his wife Indrani stepped down from the management. The two loss-making entities within the network were sold - 9x to Zee Networks and INX News to Vinay Chhajlani.
In 2010, Zee Entertainment Enterprises Ltd (ZEE) acquired 9X for around R64Cr (around $14.5mn) through a stock-cum-debt deal.
The company is now called 9X Media and is currently handled by Pradeep Guha, former CEO of Zee Group. At present, it operates three channels - 9XM (Hindi music channel), 9X Tashan (Punjabi music channel) and 9X Jhakaas (a Marathi music channel).
Zee Networks currently operates Zee News , Zee Business, Zee Punjabi, Zee News UP and Uttarakhand, Zee 24 Gantalu, a round-the-clock Marathi news channel, 24 Taas, and a 24-hour Bengali news channel, 24 Ghanta. Their news business is operated under Zee News, while Zee Entertainment Enterprises operates the general entertainment, music, regional and sports channels.
In media space, recently TV18 Broadcast acquired Eenadu TV's (ETV’s) bouquet of regional channels.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 16/02/12 | NewsX - Zee Network | M&A | Zee News Limited | - |
| 09/01/09 | INX News - Indi Media Co. | M&A | Indi Media Co. Private Limited | 10.40 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 09/05/12 | Venture Capital | Neeraj Goenka | Talentube Entertainment Private Limited | 12.00 | Completed |
| 09/05/12 | M&A | Jyoti Agarwal | DB Corp Limited | 32.66 | Announced |
| 27/04/12 | Private Equity | The Chernin Group | Endemol India Private Limited | - | Completed |
| 27/04/12 | Private Equity | The Chernin Group | OML Entertainment Private Limited (Only Much Louder) | - | Completed |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| INX News Private Limited | Indi Media Co. Private Limited | INX House, Apsara Complex, Dr. Dadasaheb Bhadkamkar Marg, Grant Road (East) |
Zee News Limited NDTV News Limited |
www.newsx.com |
| Zee News Limited | Punit Goenka Subhash Chandra |
135, Continental Building, Dr. Annie Besant Road, Worli |
INX News Private Limited TV18 Broadcast Limited (IBN18 Broadcast Limited) UTV News Limited |
www.zeenews.com |
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