INX Network
Encyclopedia
INX Network is a television network
based in Mumbai, India. The company was founded by Indrani Mukerjea in 2007 through two companies, INX Media Pvt Ltd and INX News Pvt Ltd. Indrani Mukerjea is the founder and the CEO while Peter Mukerjea is the chairman and CSO of INX Network.
and a music TV channel called 9XM
targeted at the 15 to 24 age group, and playing only Hindi film songs.
Some of the most popular shows recently telecast on 9X were Yeh Hai Jalwa and Chak De Bachche. Among the current programmes are a reality show called Kaun Jeetega Bollywood Ka Ticket, Chak De Bachche and the mythological epic Kahaani Hamaaray Mahaabhaarat Ki. Daily soaps Mere Apne and Jiya Jale are popular.
The INX News Pvt Ltd ran an English news channel, NewsX
, whch was India's first HDTV-ready news channel. It was sold to in Indi Media.
for 9X. The station owes Rs 130 crore to creditors. The INX management were expected to pitch in with some money of their own to seal the deal with the creditors, who are expected to agree with to the deal. 9X will then be taken over by Zee after a court approves the arrangement. After the 9X sale, INX will be left with just the music channel 9XM. On 20 April 2010, Zee Entertainment Enterprises confirmed that it had secured an in-principle approval from its board for acquisition of 9X, under a Scheme of Arrangement, subject to appropriate statutory and regulatory approvals.
On 29 April 2010, ZEE Network's board of directors approved the Scheme of Arrangement between ZEEL (ZEE Entertainment Enterprises) and INX Media, former owners of 9X. With the arrangement, 9X will exit INX Media and vested into ZEE Network, with a proposed acquisition funded by issuance of new shares by ZEEL to shareholders of INX. The share swap ratio was proposed at one equity share of Rupee 1/- each of ZEEL for every 71 equity shares of Rupees 10/- each of INX held by the shareholders of INX, as of June 30, 2010. ZEEL would also take over liability of Rs 60 crore. 9X is expected to retain its current brand, despite being bought out by ZEE Network.
Television network
A television network is a telecommunications network for distribution of television program content, whereby a central operation provides programming to many television stations or pay TV providers. Until the mid-1980s, television programming in most countries of the world was dominated by a small...
based in Mumbai, India. The company was founded by Indrani Mukerjea in 2007 through two companies, INX Media Pvt Ltd and INX News Pvt Ltd. Indrani Mukerjea is the founder and the CEO while Peter Mukerjea is the chairman and CSO of INX Network.
Stations
INX Media has a Hindi television station called 9X9X
9X is an Indian Hindi general entertainment channel based in Mumbai. It is owned by Zee Entertainment Enterprises. The channel was launched on November 12, 2007 in India...
and a music TV channel called 9XM
9XM
9X Media Pvt. Ltd. is a prominent television network / broadcaster in India. 9X Media is owned by a consortium of Private Equity Fund investors.-Stations:...
targeted at the 15 to 24 age group, and playing only Hindi film songs.
Some of the most popular shows recently telecast on 9X were Yeh Hai Jalwa and Chak De Bachche. Among the current programmes are a reality show called Kaun Jeetega Bollywood Ka Ticket, Chak De Bachche and the mythological epic Kahaani Hamaaray Mahaabhaarat Ki. Daily soaps Mere Apne and Jiya Jale are popular.
The INX News Pvt Ltd ran an English news channel, NewsX
NewsX
NewsX is a 24-hour rolling news television channel in India, which was recently rated India's most watched English news channel by TAM.-History:The channel was launched on the 28 March 2008 by the INX Network, which was then headed by Indrani Mukerjea....
, whch was India's first HDTV-ready news channel. It was sold to in Indi Media.
Sale of 9X
In March 2010 Zee Entertainment Enterprises made a bid of Rs 65 croreCrore
A crore is a unit in the Indian number system equal to ten million , or 100 lakhs. It is widely used in India, Bangladesh, Nepal, and Pakistan....
for 9X. The station owes Rs 130 crore to creditors. The INX management were expected to pitch in with some money of their own to seal the deal with the creditors, who are expected to agree with to the deal. 9X will then be taken over by Zee after a court approves the arrangement. After the 9X sale, INX will be left with just the music channel 9XM. On 20 April 2010, Zee Entertainment Enterprises confirmed that it had secured an in-principle approval from its board for acquisition of 9X, under a Scheme of Arrangement, subject to appropriate statutory and regulatory approvals.
On 29 April 2010, ZEE Network's board of directors approved the Scheme of Arrangement between ZEEL (ZEE Entertainment Enterprises) and INX Media, former owners of 9X. With the arrangement, 9X will exit INX Media and vested into ZEE Network, with a proposed acquisition funded by issuance of new shares by ZEEL to shareholders of INX. The share swap ratio was proposed at one equity share of Rupee 1/- each of ZEEL for every 71 equity shares of Rupees 10/- each of INX held by the shareholders of INX, as of June 30, 2010. ZEEL would also take over liability of Rs 60 crore. 9X is expected to retain its current brand, despite being bought out by ZEE Network.