News Broadcasting
Rs 940 million FDI application in Hindustan times cleared
NEW DEHI: The Indian government today approved 57 foreign direct investment (FDI) proposals worth more than Rs 6.3 billion, including increase in foreign equity in Hindustan Times Media and restructuring of Hutchison Max in India.
The FDI applications, amounting to Rs 6339.8 million to be exact, were okayed by the finance ministry on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on 25 October, 2004.
Hindustan Times case relates to Henderson Asia Pacific Equity Partners of the UK upping its stake in an HT joint venture company, HT Media Ltd, to 26 per cent from 19.23 per cent. Henderson is making the investments through its affiliate HPC (Mauritius) Ltd.
This approval would bring into the joint venture company, set up to undertake a variety of activities, including those related to the Internet, radio and TV, an additional sum of Rs 940 million.
At one time it was being speculated that it would be this joint venture company that would launch HT’s Mumbai edition.
Meanwhile, the government okayed restructuring of Hutchison Telecommunications (India) Ltd, Mauritius and Hutchison Max Telecom Private Ltd.
The proposal involves consolidation of equity by Hutchison Max Telecom Private Limited in its Indian telecom companies by way of acquisition of entire domestic and foreign shareholding and in lieu of issuing its shares.
The proposed restructuring had been pending a government nod for quite some time now and would pave the way for an IPO of Hutch. This particular case was taken up by the FIPB on 27 October.
News Broadcasting
Rajesh Sundaram joins NDTV Profit as senior editor, assignment
The 32-year newsroom veteran has launched channels on three continents and covered everything from 9/11 to South African television
MUMBAI: NDTV Profit has bolstered its newsroom with a hire who has done rather more than most. Rajesh Sundaram, a journalist with over three decades of editorial, managerial and consultative experience across India and international markets, joins as senior editor, assignment, tasked with sharpening the network’s newsgathering and real-time response.
Sundaram’s career reads like a tour of Indian media’s most formative moments. He began at Businessworld in 1994, moved to Zee News as bureau chief across Mumbai and Chennai, then joined NDTV in 2002 as part of its political bureau during a particularly febrile period in Indian politics. A stint as India correspondent for Al Jazeera International followed, where he covered key geopolitical developments and got his first serious taste of the global newsroom.
What sets Sundaram apart, however, is his serial channel-launching habit. At NewsX, he helped get the operation off the ground. At Headlines Today, part of the India Today Group, he served as editor. At News Nation, he helped launch the Hindi news channel and its digital ecosystem. He then crossed continents to lead the launch of ANN7 in South Africa as editor-in-chief, overseeing both television and digital. Back in India, he launched Tamil news channels News7 Tamil and Cauvery News, and later served as principal consultant for the launch of Marathi channel Lokshahi. Most recently, he helped build and lead the Press Trust of India’s video service and content studio, before stints consulting for Business Today and The Himalayan Times.
Rahul Kanwal, chief executive and editor-in-chief of NDTV, left little doubt about what Sundaram is expected to deliver. “The assignment desk is where a newsroom’s intent becomes action,” he said. “Rajesh brings a rare combination of field experience and leadership in building news operations at scale.”
Sundaram has reported from across India and the world, covering elections, civil conflicts, the aftermath of the 9/11 attacks and the 2008 US presidential election.
At NDTV Profit, he will lead the assignment desk, driving editorial coordination and real-time response across markets and breaking developments. For a business news network sharpening its focus on speed and multi-platform delivery, it has hired a man who has built newsrooms from scratch on three continents. The assignment desk is in good hands.
