INX News Pvt Ltd, the company which owns news channel NewsX, has got a new owner. The company, promoted by Peter and Indrani Mukerjea, has been sold to Indi Media Company Pvt. Ltd. The financial terms of the deal are not known.
Indi Media is co-founded by Vinay Chhajlani, the promoter of Indore-based regional dailys Naidunia and Nav Dunia. The group has also launched a multi lingual portal Webdunia. Chhajlani has been joined by Jehangir S. Pocha, former editor of Businessworld magazine. Pocha will have an equity stake in INX News and will look after the operations of the channel. Chhajlani also technology solutions firm Diaspark Inc.
The deal is subject to all regulatory approvals, a release said.
Commenting on the sale, Indrani Mukerjea, Founder & CEO, INX Media, says, “Having created NewsX as a premier English News channel brand in such a short span of time, I hope channel would continue to grow from strength to strength and would retain its credibility as it always has”.
INX Media had raised private equity from a clutch of investors including Singapore’s Temasek Holdings, New Silk Route, SREI, Kotak Private Equity and New Vernon PE.