On the second anniversary of the launch of English news channel Republic TV, Arnab Goswami has announced that he has bought back the shares held by Asianet News Media in ARG Outlier Asianet News Private Limited, the owner of Republic Media Network. With this, Republic has become a completely Editor controlled company.
Republic recently launched its second news channel Republic Bharat. The company also runs digital news publishing platform Republic World.
According to a press statement, Republic’s valuation has closed in on Rs 1,200 crore in just two years.
Commenting on this development, Rajeev Chandrashekhar, promoter of Asianet News Media, said, “I am pleased with the growth and success of Republic and Arnab. I am happy to have supported the vision of building a strong media-tech platform. In pure financial terms too, this has been a successful investment. Post Arnab’s buying back of some shares, Asianet News Media will continue to support Republic, however as a minority portfolio investor.”
Arnab Goswami, MD and Editor in Chief of the Republic Media Network, said, “We have built a strong media brand in partnership with Asianet News Media - and are poised for growth. We have expanded rapidly in the last two years. Partnering with Asianet News Media has been terrific. Their strong track record and competence as savvy media tech investors has helped us tremendously in our exponential growth. Going forward as Republic Media Network, I look forward to diversifying and growing Republic across all platforms.”