Mukerjeas quit INX Media; Guha steps in

There seems to be changes galore in the Indian television market.

With Kunal Dasgupta stepping down from his Multi Screen Media endeavours, news today confirms that Indrani Mukerjea and Peter Mukerjea have also parted ways from the management positions at INX Media (parent company of 9X and 9XM).

Indrani held the position of CEO, INX Media, while Peter was the chairperson and chief strategy officer of the company.

The Mukerjea’s announced in a press statement that they have discussed the same with the other shareholders and have requested them to make arrangements for the transition.

For Indrani, her last working day will be 30th April 30, while Peter will make an exit by the end of this month. However, both Peter and Indrani will continue to hold their respective stakes in the company.

The Mukerjea’s together hold a 50 per cent stake in INX Media. The remaining stake is held by private equity firms – Temasek Holdings, New Silk Route, New Vernon Private Equity, Kotak Mahindra Capital and Srei.

According to Exchange4Media, INX investors have roped in industry veteran Pradeep Guha to consult on the way forward for the organisation. However, the details of the engagement and what it would manifest into is not known at the moment. It is also understood that Guha begins this consulting from next week.

Recently, INX News was sold to Indi Media, formed by two media veterans, Vinay Chhajlani, one of the promoters of Nai Dunia and Jehangir Pocha, former editor, Businessworld.