Indian media entrepreneur Raghav Bahl is backing the new ‘Bloomberg India’ channel. Bahl is a well-known name in India having founded a number of TV channels including TV18 and he was MD at the Network 18 group of channels (which included CNBC’s local Indian versions, Nickelodeon India and the highly-rated Colors) until he exited after selling the operation to Reliance Industries in July 2014.
Bahl will reportedly hold 74 per cent of the new English-language operation, with Bloomberg itself taking 26 per cent.
Bloomberg’s previous venture in India was with Anil Ambani’s Reliance Group and came to an end in January after a seven-year partnership.
No launch date has been given as yet, although a formal announcement is likely in April.