NDTV and NDTV Media (headed by Raj Nayak) are entering into a fresh arrangement that is aimed to be beneficial to both organisations. Nayak and his team will set up a separate new media company, called AIDEM Ventures, which aims to become a big media player in India and overseas eventually.
Under the new arrangement, NDTV will save substantially on costs, and having renegotiated the terms of engagement, will have greater control of its sales operations while working closely with Nayak's new organisation.
In a press statement, Prannoy Roy, chairperson, NDTV Limited, states, "NDTV has had a wonderful experience working with Raj and his team over the last seven years and we look forward to working together with their new company, AIDEM Ventures, under a new win-win relationship."
Speaking to afaqs!, Nayak says, "While having the NDTV name was a big asset, it brought with it restrictions as well. With AIDEM, we hope to scale up the business, widen our reach by tapping new opportunities and paint a bigger canvas."
AIDEM Ventures will begin operations on April 1. Nayak has with him the entire team of NDTV Media. The new company will continue to service all the NDTV brands, however in a new arrangement.
Nayak hails his stint at NDTV to be the most challenging one in his career. "In my 23 years of experience, I have had the opportunity of handling some of the biggest media brands in India such as ESPN-STAR Sports and STAR TV Network but launching NDTV channels in 2003 with the NDTV team was one of the most exciting assignments of my career," he says.First Published : March 31, 2010