Raghav Bahl, who had exited Network 18 and TV18 after his media companies were acquired by Reliance Industries in mid-2014, is entering the business news broadcast space again, this time with a former competitor.
His new venture, Quintillion Media, in a joint venture with Bloomberg Media, has announced the formation of BloombergQuint, that will cover broadcast, digital and live events across India, both the companies said.
As per the agreement, the partners will create a revamped business news channel and digital platform to cater to the growing demand for financial information in the country.
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“Partnering with Quintillion Media in India is a game-changer for the country’s digital and broadcast media industries, and for Bloomberg Media globally, as we take our investment to an exciting new phase,” Justin B Smith, Chief Executive Officer, Bloomberg Media, said in a statement. “It was clear when we met Raghav that we shared a common vision to create India’s premier digitally-led multi-platform business media company,” he added.
“The combination of Bloomberg Media with Quintillion Media is a powerful one. It will bring a completely new brand of journalism and media experience to India’s increasingly sophisticated business consumer. We will deliver content via technology in a digital-first model that will redefine this space,” Raghav Bahl, co-founder of Quintillion Media, said.
Mr Bahl founded and had scaled up Network 18 to be India’s leading media group. After exiting the venture, he, with his spouse Ritu Kapur as CEO and co-founder, launched Quintillion Media in 2014 as a digital media company.
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The company has hired former CNBC-TV18 CEO Anil Uniyal and former CNBC-TV18 Executive Editor Menaka Doshi to serve as BloombergQuint’s CEO and Managing Editor respectively.