Rajat Sharma looking to acquire 9X Media
9X Media is in the news again for acquisition talks. It may be recalled that earlier this year there were talks about Sony Pictures Networks acquiring a majority stake in 9X Media, but the talks had fizzled out. It is now learnt that India TV’s Rajat Sharma is in talks to acquire a majority stake in 9X Media. According to industry sources, the deal is valued at approximately Rs 200 crore.
9X Media is backed by New Silk Route. Pradeep Guha, CEO, 9X Media, has 15 per cent stake in the company, while 3.5 per cent stake is with the 9X Media Employee Trust. 9X Media’s offerings include 9XM and 9X Jalwa channels, apart from music channels and Marathi and Punjabi language channels.
The now incarcerated power couple Peter and Indrani Mukerjea had set up 9X Media in 2007, which was then called INX Media. New Silk Route came into the picture as an investor in 9X Media in 2007. The Mukerjeas exited the company in 2009.
Hindi news channel India TV is owned by Independent News Service, in which Rajat Sharma and his wife Ritu Dhawan have nearly 60 per cent stake. Silicon Valley based investor Keyur Patel is also a stakeholder in Independent News Service.
Watch this space for more developments.