A near three-year old relationship between Reuters Group Plc and Bennett, Coleman & Co Ltd in Times Global Broadcasting, the joint venture which owns and operates English news channel Times Now, has come to an end.
Reliable industry sources inform us that Thursday marked the last day that Reuters, which holds a 26 per cent stake in Times Global Broadcasting, would be contributing monetarily to Times Now’s operating costs. Additionally, Reuters has already started the process of looking for a new broadcast partner in India, the sources say.
When asked for a response on the developments, Times Global Broadcasting CEO Sunil Lulla stated, “We have no comment to offer.”
Speculation is rife that differences over editorial direction were what ultimately led to the parting of ways between the Times Group’s broadcast arm and Reuters but this is something that could not be independently confirmed at the time of filing this report.