MAM
NDTV, Raj Nayak’s Aidem Ventures to split
MUMBAI: NDTV Ltd. has decided not to renew its ad sales contract with Raj Nayak-promoted Aidem Ventures from 1 April, according to sources familiar with the development.
NDTV had outsourced its ad sales to Aidem Ventures for one year, after Nayak quit as CEO of NDTV Media to float his own company. NDTV had bought back Nayak and his team‘s 26 per cent stake in NDTV Media, a company that was handling the ad sales of the broadcasting company.
The split was in course and an official announcement is expected to be made soon. NDTV had earlier revised the estimates of the fee payable to Aidem in the third quarter of the fiscal, in keeping with the terms of the arrangements and accordingly reversed the provision amounting to Rs 50 million recognised in the earlier quarters.
NDTV has started talking with at least two media outfits including Star India to outsource its ad sales, sources said. The company is also considering managing its own ad sales by forming an internal team.
“All the options are open but the most likely course would be to outsource ad sales. Star seems the favourite choice at this stage but anything can happen. Nothing is signed yet,” a source said.
Nayak could not be reached for his comments.
When contacted, Star India CEO Uday Shankar did not want to comment on the issue.
Brands
Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
