It "will give a global view of the world with a South Asian lens", Essel Group and ZEE Chairman Subhash Chandra said.
WION is a mobile or digital-first platform and will later be an international television channel.
It will have bureaus across the globe, using a mix of young and seasoned journalists with diverse nationalities, the company said.
"While a TV channel is the face of this mobile-first start-up, our news gathering, reporting, production and publishing processes are an ambitious leap into a multi-screen future.