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General News BloombergQuint ready for launch; awaits licence name change approval from MIB
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[Image: Bloomberg-Quint-main.jpg]MUMBAI: Raghav Bahl’s Quintillion Business Media is awaiting ministry of information and broadcasting’s (MIB) approval for changing licence name to launch its English business news channel, BloombergQuint.

Quintillion Business Media, in which American media co Bloomberg holds 26% stake, acquired a licence from Kolkata-based Horizon Satellite Services after a prolonged delay to acquire a licence directly from the ministry.

After acquiring the licence from Horizon, the company has applied for a name change of the licence to BloombergQuint. The licence is under the name Y TV.

Incidentally, Horizon has also lent a licence to Tamil news channel Malai Murasu. The company has two directors Mansukh Dugar and Panchi Jain. Dugar is also one of the directors of News Nation Network, which owns and operates Hindi news channel News Nation.

“We are ready to launch the channel at any moment. We are waiting for the name change clearance from the MIB. We have acquired a licence from Horizon which is why we had to apply for a name change,” Bloomberg Quint CEO Anil Uniyal told TelevisionPost.com.

Uniyal further stated that the company is all set to launch as soon as the MIB approval comes. The pay channel is in talks with distribution platforms for stitching carriage deals.

In March, Bahl had told TelevisionPost.com that Bloomberg Quint will be launched in three months as the channel is close to getting a licence from the MIB.

However, the intermittent delay in procuring the licence from MIB prompted the company to acquire a licence from another company.

“We plan to launch the channel in three months. We are close to getting the licence from the MIB. It is the last leg of approval that we are waiting for,” Bahl had said.

BloombergQuint had crossed its first major hurdle after it received the Foreign Investment Promotion Board’s (FIPB) approval to Quintillion Business Media to issue equity shares to Bloomberg. The FDI proposal was worth Rs 13.4 crore.

Even as it waits for the MIB approval to launch the TV channel, BloombergQuint has already launched its digital live-streaming service in India on bloombergquint.com, the Bloomberg Terminal and BloombergQuint social platforms.

The English business news genre is dominated by CNBC TV18 and ET Now. NDTV Profit, which was the third player in the market, shut down on 5 June. BTVi, which had a brand licensing pact with Bloomberg, is a minor player in the market.

Source:

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Airtel Digital HD Recorder / Kerala Vision Digital TV
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