You are here: Home » Companies » News
Business Standard

Raj Nayak parts ways with NDTV, floats new company

Press Trust of India  |  New Delhi 

Media and entertainment firm NDTV Ltd today said it has parted ways with Raj Nayak, head of the advertising sales and marketing services arm NDTV Media, who will now float his own company.

Nayak, who along with some of his associates held 26 per cent in NDTV Media, will set up a separate media company called AIDEM Ventures Pvt Ltd.

NDTV and Nayak have entered into an agreement, under which the media house will buy back the shares of Nayak and his associates in NDTV Media.

"As agreed upon, our shares will be bought by NDTV and NDTV media will fallback into the main company," Nayak told PTI but declined to comment on the valuation of the shares citing confidentiality.

Post the rearrangement, AIDEM Ventures which owned 100 per cent by Nayak and associates, will continue to serve NDTV but the terms have been renegotiated.

"We used to work on a commission basis, which will continue with AIDEM but the fee structure has been changed," he said.

The new arrangement will save substantially on costs and having renegotiated the terms of engagement will have greater control of its sales operations, NDTV said in a statement.

At the same time NDTV will ensure continuity in its revenue stream while working closely with Nayak's new organisation, it added.
NDTV Media was formed seven years back with NDTV holding 74 per cent. It was set up with an aim to provide advertising sales  and marketing services to television channels run by NDTV Ltd as well as other media

Nayak said while the NDTV brand was a big boost, it also had a flip side with other channels having questions over the neutrality of the firm.

"With AIDEM, I hope that doubt will be cleared and I hope to grow the basket of clients bigger," he said.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, March 30 2010. 15:24 IST