9X Media is NOT UP for sale: Pradeep Guha

MUMBAI: Recent media reports spurred speculations that the Pradeep Guha led 9X Media, which has New Silk Route Advisors as a private equity fund holder, is up for sale. However, refuting all such rumours, Guha tells Indiantelevision.com, “There is no truth behind the published statements. I have read the report myself and I was shocked. Let me clarify that 9XM is not up for sale.”

The network now operates five channels namely 9XM (Bollywood music), 9X Jhakaas (Marathi music), 9XO (International music), 9X Tashan (Punjabi music) and 9X Jalwa (forever young Bollywood music).

New Silk Route holds 80 per cent stake in 9X Media while Guha owns 15 per cent.

“Being a media company that has been operating for so many years, eventually the private equity had to come out at some point. And that’s all that we are talking about at this stage. This does not imply any managerial or operational changes in the network or channel,” Guha explains.

The network was started by former Star India CEO Peter Mukerjea and his wife Indrani Mukerjea.