Arnab Goswami to acquire Asianet’s stake in Republic; to assume complete control
Republic TV completes two years of broadcasting in the first week of May 2019. This two year anniversary has seen the continued leadership of Republic TV in English News, completing 100 weeks as number 1, and the launch of Republic Bharat in February 2019.
On the two year anniversary, the company transforms into the Republic Media Network. This anniversary also marks a major milestone for the company as its valuation has closed in on 1,200 crore in just two years.
The Republic Media network 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.
Commenting on this development, Rajeev Chandrashekhar said: “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.”
Arnab Goswami, MD and Editor in Chief of the Republic Media Network 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.”
Republic TV was launched in May 2017. Republic Bharat, the Hindi news genre is among the top 3 Hindi News Channels. The company, based in Mumbai, has not announced any plans for an IPO so far.