Arnab Goswami has repurchased Republic TV shares from Asianet, putting it on track to become an Editor-run news channel.
Arnab Goswami has repurchased Republic TV shares from Asianet, putting it on track to become an Editor-run news channel. The two-year old broadcaster is now valued at a whopping Rs 1,200 crore. Since its launch in May 2017, Republic TV has retained the leadership position among English News channels, completing 100 weeks as No 1, according to a press release by Jupiter Capital Pvt Ltd.
Jupiter Capital is a financial services and investment company, and Asianet News is one of its portfolio companies. “Republic TV and the Republic Media Network today complete 2 years of broadcasting to India. With expansion in digital and across India ahead, the game has just begun! Thank you viewers for your constant support,” Republic TV said in a tweet.
Taking stock of the development, Rajeev Chandrasekhar, Founder and Chairman of Jupiter Capital Pvt Ltd, said he was pleased with the success of Republic and Arnab. Jupiter Capital had invested Rs 30 crore in Republic TV. Chandrasekhar expressed happiness in having invested in the vision of building a strong media-tech platform and Brand.
He said Republic is now among the successful brands he helped build. Terming his investment in republic a financially successful one, the BJP MP said Asianet News Media will continue to support Republic as a minority portfolio investor.
Arnab Goswami, managing director and editor-in-chief of Republic Media Network said the company has built a strong media brand in partnership with Asianet News Media. Asianet News Media’s track record and competence as a savvy media tech investor has helped Republic in its exponential growth, he said.
Goswami said he would look at diversifying and growing Republic across all platforms. The firm has already launched its Hindi Channel — Republic Bharat. The company based in Mumbai has not announced any plans for an IPO so far.