Arnab Goswami buys back shares from Rajeev Chandrasekhar’s Asianet in Republic Media Network
MUMBAI: Republic TV founder and Editor-in-Chief Arnab Goswami has bought back shares in ARG Outlier from Rajeev Chandrasekhar’s Asianet News Media to become a fully editor controlled company. However, Asianet News Media will continue to support Republic Media Network as a minority portfolio investor.
Republic Media Network, which has completed two years, is valued at Rs 1200 crore. Currently, it owns and operates two channels Republic TV (English) and Republic Bharat (Hindi).
In a statement, Republic Media Network said it is now on track to being a completely Editor controlled company after recent agreements by Arnab Goswami to buy back shares from investors like Asianet News Media, who in turn have made strong returns on their investment.
Jupiter Capital founder and chairman Rajeev Chandrasekhar said he was pleased with the success of Republic and Arnab. Jupiter Capital has invested Rs 30 crore in Republic TV.
“I am pleased with the growth and success of Republic and Arnab. I am happy to have supported the vision of building a strong media-tech platform. In pure financial terms too, this has been a successful investment. Post Arnab’s buying back of some shares, Asianet News Media will continue to support Republic, however as a minority portfolio investor,” said Chandrasekhar.
Republic Media Network MD and Editor-in-Chief Arnab Goswami said, “We have built a strong media brand in partnership with Asianet News Media – and are poised for growth. We have expanded rapidly in the last two years. Partnering with Asianet News Media has been terrific. Their strong track record and competence as savvy media tech investors has helped us tremendously in our exponential growth. Going forward as Republic Media Network, I look forward to diversifying and growing Republic across all platforms.”