Bloomberg, UTV team up for business news channel
Replaces UTVi, takes on CNBC, NDTV competitorsNEW DELHI -- Bloomberg and UTV announced a collaboration for a co-branded business channel, Bloomberg-UTV, which will replace UTVi next month, the companies said Thursday.
The English business news broadcasting segment includes competitors such as established pioneer CNBC-TV18 (a joint venture between CNBC and Network18) and NDTV Profit, owned by New Delhi Television, in which NBC Universal acquired a 26% stake of the parent company for $150 million.
Bloomberg-UTV will incorporate content from Bloomberg Television's worldwide network, enhancing UTV's existing local newsgathering operations. In addition, the channel's existing financial portal utvi.com will also be rebranded as bloombergutv.com.
“We will welcome 30 million households in India to Bloomberg’s community of more than 200 million television households, who make up the most affluent and influential audience in the world,” said Bloomberg Multimedia Group CEO Andy Lack.
“The addition of 14-15 million television sets every year and a rapid change of preference in favor of premium channels will drive viewership of business news in India... We are thrilled about this collaboration," UTV News Ltd. chairman Ronnie Screwvala added.