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Our Bureau

To take over as Chairman of new board

Thiruvananthapuram , Oct. 29

Mr Rajeev Chandrasekhar, former Chairman and CEO of BPL Mobile, has bought a majority stake in Malayalam news and entertainment channel operator Asianet Communications Ltd.

A spokesman for Asianet Communications said here that Mr Chandrasekhar has acquired 51 per cent of the company in what is being described as a `strategic partnership' with the media player. He will take over as Chairman of the re-jigged board of directors.

Mr Chandrasekhar is reported to have unlocked personal wealth by selling his cellular operations to Hutchison Essar last year.

He has been reportedly scouting for investment opportunities in a number of sectors ranging from tourism, software, media and entertainment to aviation.

The 13-year-old Asianet is the oldest Malayalam channel, and is priming itself for a major expansion in the near future.

New Kannada and Tamil channels will be the latest additions to the bouquet of channels bearing the Asianet logo.

The Kannada channel will go on air early next year, the spokesman said.

More Stories on : Mergers & Acquisitions | Radio/TV

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