ABCPL set to launch Hindi news channel TV9 Bharatvarsh in March
MUMBAI: TV news broadcaster Associated Broadcasting Company Pvt Ltd (ABCPL) is all set to enter the Hindi news genre with its new channel TV9 Bharatvarsh, which is slated to launch next month.
This will be the second major launch in the Hindi news genre ahead of the big 2019 General Elections. Earlier, Republic Media Network had entered the Hindi news genre with the launch of Republic Bharat.
TV9 Bharatvarsh will enter the Hindi Satellite market with a well known team of strong journalists and presenters. The editorial team includes names like former India TV editor Hemant Sharma, former India TV managing editor Ajit Anjum, and Vinod Kapri.
The Hindi channel is all set to open up its largest news studio in the country, which will use the best of AR and VR technologies and BOT News Tracker in its presentation.
TV9 Bharatvarsh will aim to change the national television with its unique style of aggressive presentation blended with investigative journalism that will focus on the rights of the people.
“The Hindi channel will bring back issues that really matter and use the medium of television keeping the core values of humanity and people’s interests in the forefront. Unlike other Hindi News Channels TV9 Bharatvarsh will not promote superstitions like Astrology,” ABCPL director Clifford Pereira said in a statement.
In 2018, Srini Raju exited the company after selling his stake to a clutch of investors including promoters of Megha Engineering and MyHome Cement. The company was valued at Rs 456 crore for the transaction.
ABCPL was promoted by Ravi Prakash with seed capital from Srinivasa Raju through his investment firm iLabs Venture Capital Fund Pvt Ltd (iLabs) and Chintalapati Holdings Pvt Ltd (CHPL) in 2003. iLabs and CHPL held 17.63% and 71.06%, respectively, in ABCPL.
The company operates six channels (different languages) which are broadcast in the states of Andhra Pradesh, Telangana, Karnataka, Gujarat and Maharashtra. The company broadcasts the channel with the brand name of TV9, News9 and TV1.
ABCPL’s revenue grew 19% to Rs 159.96 crore in 9M FY18 compared to Rs 134.73 crore in 9M FY17. In line with increased revenue and lower interest expenses, profit before interest, lease, depreciation, and tax (PBILDT) margin and PAT margin improved significantly to 13.82% and 6.77% respectively during 9M FY18 as against 8.8% and 5.26% in the year-ago period.