Bloomberg LP, which entered India in 2008, its terminating its agreement with Business Broadcast News, effective March 31.
A story on the Business Standard website states, “Business Broadcast News Pvt Ltd (BBNPL) will continue to operate the TV channel, with fresh branding to be unveiled separately, effective April 1, subject to regulatory approval. Bloomberg will announce a new media partner in due course.
“This will be the fourth avatar of the channel since its launch in India. When Bloomberg entered India in 2008, it was in the form of UTVi, a joint venture (JV) between the US-based media outlet and UTV Software, then owned by Ronnie Screwvala. The channel was rebranded Bloomberg UTV in 2009. In 2012, UTV exited from the JV, to be replaced by Reliance ADAG and was renamed Bloomberg TV India.
“‘Our strategic partnership with Reliance Group and Ronnie Screwvala enabled us to successfully reach millions of viewers in India, and deliver market-moving business and financial news on India’s growth and development,’said Parry Ravindranathan, managing director–international for Bloomberg Media Group. ‘Together, we set new standards in financial broadcast journalism, and we will continue to value our relationship with both partners. In the coming weeks, we will unveil a new chapter for Bloomberg Media in India, as we remain more committed than ever to expanding our media operations this year in broadcast, digital and other platforms.'”
Read more here.
