TV18 to launch Gujarati news channel

Mukesh Ambani-controlled TV18 Broadcast Ltd, which runs news channels CNN-IBN, CNBC TV18 and CNBC Awaaz, among others, is planning to launch India's first 24-hour Gujarati business channel. The channel - CNBC Bajar - will go live from Tuesday. Sanjay Pugalia will be the editor-in-chief of the new channel. The channel will focus both on the micro markets within Gujarat as well as the global markets that affect the investment and business decisions of business-savvy Gujaratis, said company sources who declined to share any investment details. The development comes a month after Ambani's Reliance Industries Limited bought a majority stake in Network 18 Media & Investments Limited and its subsidiary TV18 Broadcast for about Rs 4,000 crore.

TV18 Broadcast has been working on the new channel for the past three years, Pradeep Pandeya, executive editor of CNBC BAJAR, told Business Standard. He said while CNBC AWAAZ's launch about 10 years ago coincided with the bull run in the market; now the market is seeing another bull run and this is the right time to launch the Gujarati channel. Gujaratis top in most economic parameters - from industrialisation to GDP per household. However, there isn't enough content being created to serve this affluent set of viewers, he added. "It was thus a very simple decision for us when we decided to start this channel. Not only that, no other community devours content revolving around finance, markets, business and economics the way this community does."