Arnab Goswami buys back Republic Media shares from Asianet1 min read . Updated: 06 May 2019, 06:35 PM IST
- Republic TV is an English news channel incorporated in May 2017
- Republic TV had topped the ratings chart since its debut until this February
NEW DELHI: Two years after its launch, Arnab Goswami is all set to buy back shares of his company Republic Media from investors Asianet News Media. On the two-year anniversary, Goswami’s company is transforming into the Republic Media Network, and is on track to being a completely editor controlled company.
Republic TV is an English news channel incorporated in May 2017. It had topped the ratings chart since its debut until this February when it was toppled by DD India, the English news channel owned by public service broadcaster Prasar Bharati. The two companies invested in Republic TV are ARG Outlier Asianet News Pvt Ltd and SARG Media Holding Pvt Ltd. A sister channel in Hindi Republic TV Bharat was launched in February 2019.
“We have built a strong media brand in partnership with Asianet News Media and are poised for growth. We have expanded rapidly in the last two years. Partnering with Asianet News Media has been terrific. Their strong track record and competence as savvy media tech investors has helped us tremendously in our exponential growth. Going forward as Republic Media Network, I look forward to diversifying and growing Republic across all platforms," Arnab Goswami, managing director and editor-in-chief of the Republic Media Network said in a statement.
Indian entrepreneur and member of Parliament Rajeev Chandrashekhar, a former director on the board of Republic said he was pleased with the growth and success of the venture.
“I am happy to have supported the vision of building a strong media-tech platform. In pure financial terms too, this has been a successful investment. Post Arnab’s buying back of some shares, Asianet News Media will continue to support Republic, however as a minority portfolio investor," Chandrashekhar said in a statement.