MUMBAI: After Bloomberg ended a seven year old tie -up with the Anil Ambani led Reliance group, it is now all set to rebrand its business news channel Bloomberg TV which is run by Business Broadcast News Private Limited. The channel will be renamed as Business Television India (BTVIn) early next month, reported a daily newspaper. It has signed an agreement for data feed with Thomson Reuters Corp.
The new website and logo will be unveiled next month. It is also reported that Reliance Capital Ltd and entrepreneur Ronnie Screwvala, among others, are shareholders in BTVIn.
According to reports, Siddharth Zarabi will continue to head the editorial operations of the channel, the company has hired Monica Tata, a former managing director of HBO India, to head the restructuring on the business side of the news operations on a project basis.
Bloomberg L.P. and Business Broadcast News decided to end their media licensing agreement in India on 31 March 2016. Both parties have mutually ended the licensing agreement and pursued their respective new business strategies. While Business Broadcast News continued to operate the TV channel with fresh branding effective 1 April, subject to regulatory approval, Bloomberg announced Raghav Bahl’s Quint as the media partner.
Bahl and Bloomberg will together invest Rs.100 crore in the venture. While, Bahl will own a 74 per cent stake, Bloomberg will have the rest. The agreement is for a 10-year period.
The Bloomberg Quint website has already gone live, while the news channel is expected to be launched later this year.