Business Standard, 10 Jan 2009
A group of investors, led by Vinay Chhajlani, CEO of Webdunia.com India Pvt Ltd, and Jehangir S Pocha, former editor of Businessworld, has bought INX News, the company that runs the English news channel NewsX. Chhajlani and Pocha have formed a company called Indi Media for the purpose. Though the size of the deal is not known, media industry sources peg it at roughly Rs 50 crore.
INX Media, funded by Temasek Holdings through Dunearn Investments, NSR PE of New Silk Route Partners, Kotak Mahindra Capital, New Vernon Private Equity and SREI, had a 26 per cent stake in INX News, with the majority shareholding being with the single Indian entity IM Media Private Ltd, owned by Indrani Mukerjea, founder and CEO of INX Media.
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