http://in.news.yahoo.com/070314/43/6dawa.html
Wed, Mar 14 Vir Sanghvi joins Mukerjea's INX Media By IANS Wednesday March 14, 05:59 PM New Delhi, March 14 (IANS) Noted journalist Vir Sanghvi, editorial director with the Hindustan Times group, is joining the INX Media group that has planned a bouquet of news and entertainment channels in different languages. Sanghvi will be the chief executive of the new company and editorial head of the news channels, promoted by Indrani Mukerjea, the chairperson of the venture and the wife of former chief of STAR TV's India operations Peter Mukerjea. 'For print purposes, Sanghvi's association with HT Media would continue and his popular columns will continue to appear in The Hindustan Times as also Mint,' Indrani Mukerjea told IANS. 'My programmes with other channels will cease,' said Sanghvi who has previously worked for news organisations and magazines like Imprint, Sunday, Ananda Bazaar Patrika and Bombay. The group hopes to launch a Hindi entertainment channel, a music channel and an English news channel by the last quarter of this year and roll out the rest over the next two years. According to officials, INX Media has attracted investments from some of the world's leading venture funds, including Temasek Holdings of Singapore via Dunearn Investments, New Silk Route, New Vernon, Kotak and SREI Group. INX officials, however, sought to clear the misconception that the Ambanis had anything to do with the new venture whose news operations would be based in New Delhi and the entertainment section headquartered in Mumbai. 'Neither the Ambanis, nor any member of the Murdoch family - or for that matter any company in the group - has any investment at all in the entertainment or the news companies in the form of either equity or debt,' Indrani Mukerjea said. 'The news company INX News will be 26 percent owned by the entertainment company and, in accordance with the government of India regulations, by a single Indian entity drawn from the INX Group,' she added. The group also plans to outsource its programming. 'We will also buy some of our entertainment software from some of the best producers in the business,' Indrani Mukerjee said.
