India gets another news channel

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INX Media is backed by venture capital funding, and led by ex-Star CEO Peter Mukerjea and his wife Indrani Mukerjea (pictured, left). On March 27, INX launched India’s latest all-news channel NewsX. The channel joins more than 20 other TV news channels in India, and says it will focus on analytical in-depth news broadcasting initially from New Delhi (at Noida) but with another studio in Mumbai. The channel’s COO Vynsley Fernandes said the channel is now on air although in a soft-launch phase to enable cable operators to find the signal. INX Media founder-CEO Indrani Mukerjea said: “The period from March 2007 to March 2008 has been the most interesting year for INX Media. We have achieved all that we planned and set out to achieve so far all in a year’s time from ground zero starting on 1 March, 2007 with one desk and one [staff member]. 2008 is the year for INX and we will do everything to make it the most successful and promising enterprise in the country.”

Finance for the venture has come from Temasek, in the shape of $259m (11 billion Rupees) for some 25%. Temasek has also invested in Singapore’s MediaCorp.

INX was for the first 10 years or so of its life a recruitment company. Less than a year ago it launched its all-music – and extremely popular - 9XM channel with “platinum partners” Coca-Cola and Vodafone as channel sponsoring advertisers. It also launched 9X, a Hindi-language general entertainment channel that has only just increased output to a couple of hours an evening, and is promising four hours of primetime entertainment by June. INX is also reported to have paid “hundreds of millions of Rupees” for a batch of 60 Sony Bollywood movies.


source: Rapid TV News

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