As the Republic TV is on the verge of completing its 2 years, Managing Director and Editor-in-Chief Arnab Goswami has bought the minority shares held by Asianet Media Network and transformed Republic TV to Republic Media Network. The company has achieved a major landmark as its valuation has crossed Rs 1,200 crores in just two years, said a report commissioned by the company.
As per news reports, Republic Media Network is all set to become a completely Editor controlled organisation as Arnab Goswami agrees to buy back shares from investors like Asianet News Media. Recently, the company had also launched its Hindi news channel Republic Bharat. Asianet is said to have made strong returns on their investments made in the company.
Founder and chairman of Jupiter Pvt. Ltd, which is the parent organisation of Asianet Media Network, Rajeev Chandrashekhar said, “I am quite delighted with the growth and success of Republic and Arnab. I am happy to have contributed to the vision of building a strong media-tech platform. Even in financial terms, it has been a successful investment. Asianet Media will continue to offer its support to the Republic as minority portfolio investor after Arnab’s buyback of the shares.”
The Managing Director and Editor in Chief of the Republic Media Network, Arnab Goswami said, “We and Asianet News Media have built a strong media platform And are geared up for further growth. Last years have been phenomenal and we have expanded at an unprecedented rate. Asianet’s strong track record and media savvy tech approach has enabled us to set ourselves on an exponential growth path. Marching forward as Republic Media Network, We will look forward to branch out and expand across all platforms.”