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Plan is to launch business news channel in 3 months, says Raghav Bahl
MUMBAI: Media entrepreneur Raghav Bahl is looking to launch his English business news channel Bloomberg Quint in three months as the channel is close to getting a licence from the Ministry of Information & Broadcasting (MIB).
“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 awaiting,” Bahl, who owns 74% stake in the venture, told TelevisionPost.com.
Bahl also said that the channel’s studio is getting built bottom-up, which is why it will take at least three months to launch the channel. He added that the hiring for the channel has almost concluded.
However, Bahl did not rule out some more big names from business journalism joining his venture just ahead of the launch.
In November, Bloomberg Quint, which is 26%-owned by Bloomberg, had crossed the first major hurdle after the Foreign Investment Promotion Board (FIPB) granted approval to Quintillion Business Media to issue equity shares to Bloomberg. The FDI proposal was worth Rs 13.4 crore.
The company’s FDI proposal was earlier deferred several times by the government. The company was awaiting licence from the MIB.
As reported earlier, Bahl’s Quintillion Media and Bloomberg have teamed up to launch an English business news channel Bloomberg Quint. The digital version of Bloomberg Quint has already gone live in beta version with videos and articles.
Newsgathering has also gathered steam with Bloomberg Quint deploying a team of reporters on the ground to cover important news events. Currently, the news brand is publishing its news videos on its YouTube channels besides Twitter and Facebook pages.
Bloomberg Quint is a 74:26 joint venture partnership between Quintillion and Bloomberg. Bahl has roped in former CNBC TV18 CEO Anil Uniyal as the CEO while Menaka Doshi has joined as the managing editor.