‘Buzz of investors pulling out rubbish’

It has been more than two months since the exit of Vir Sanghvi as CEO of News X, INX Media’s proposed news channel. The company has been mired in controversies since Sanghvi’s ‘uncomfortable’ exit and reports of mass exodus from the group thereafter. However, INX founder and CEO Indrani Mukerjea has been pretty unfazed and claims she has been unaffected by these “controversies.’

In an interview with  DNA Money’s Nivedita Mukherjee, she also rubbishes the buzz about investors Temasek, New Silk Route, New Vernon and Kotak pulling out of INX. Excerpts:

How have you handled the controversies surrounding Vir Sanghvi’s exit from INX? Was it tough?
I was quite unaffected (by it). I’m quite a go-getter, you see. The core management team of the group has one brief, that we are here to work and that the actual proof of competence lies in delivery.

After the controversy, don’t you think the INX group has lost some goodwill?
It was a huge hype. There was more hype outside, than internally. As for our investors, they are very solid people. They have been very supportive and they are here to stay. So, it was more an external hype.

When we had partnered with our investors, we had taken a decision that the core management team would take steps in the best interest of the organisation, whatever it takes. We’ll continue to do that, irrespective of controversies.

But, there was much talk of investors pulling out of INX. What do you have to say on that?
It’s totally rubbish. There was no threat at all. Like I said, our investors are very solid people. They are long-term investors with very deep pockets. They are hardly the kind of professionals who would be affected by such small incidents.

Are you planning to hire any editor-in-chief or CEO for the news channel?
No, there are no plans. Arup Ghosh is the editorial head and Karan Thapar is the editorial advisor.

Does INX have any plans of listing in the stock exchange?
There are no plans in the near future. Eventually we might do that, depending on the market scenario.

What is your USP in the crowded television space?
Our music channel is like radio on TV. It’s cheerful and there’s no yapping. The general entertainment channel is gradually stepping up the prime time programming, but not in one go. Also, we are going with serials of 26 to 39 episodes, so that there’s a beginning and an end. The news channel is like a newspaper on TV.

Are there plans to increase the number of channels?
We’ll launch eight more channels this financial year (three regional music channels, three regional entertainment channels, one national entertainment channel and one national music channel). Next year, we want to roll out metro channels.

What are your views on the TRP (television rating point) issue. Information and broadcasting minister PR Dasmunsi wants an alternative rating system. Do you agree?
I agree with the minister on a parallel rating system. TV channels should be monitored yearly rather than every second, as is the practice now. I plan to give my input to the minister on this.

m_nivedita@dnaindia.net