INX News has been bought over by Indi Media, a company promoted by Vinay Chhajlani and Jehangir Pocha. The newly-formed Indi Media Company Pvt Ltd has bought over the entire stake of INX News.

Previous owners including Indrani Mukerjea and Peter Mukerjea are said to have exited the company following the sale. 

Chhajlani is one of the promoters and CEO of Madhya Pradesh-based Hindi daily, NaiDunia and founder of Webdunia, while Pocha, till date, was editor of Businessworld put  in his papers today to head NewsX and the other forthcoming channels from INX News. 

Pocha was the China correspondent for The Boston Globe prior to taking over as editor of Businessworld. Before becoming a journalist in 2002, Pocha had spent a decade in business, and had worked with several start-ups and Fortune 500 companies in the US. He also has an MBA from Mumbai's SP Jain Institute and a degree in media and foreign policy from Harvard University.

INX News Pvt. Ltd is a subsidiary of INX Media Pvt. Ltd, a broadcast company promoted by former Star India CEO Peter Mukherjea and his wife Indrani Mukherjea.

INX had been funded by the Singapore gvernment's investmernt arm Temasek Holdings, via Dunearn Investments, New Silk Route, New Vernon, Kotak and the SREI Group.

Sources told domain-b, that the investors had been pressuring the promoters to sell their stake and allow a new management to take charge due to constant differences between former CEO Vir Sanghvi and co promoter Indrani Mukherjea on running the news channel, that ended in Sanghvi's ouster, along with a raft of other senior executives earlier last year, prior to the channel going live.

Sanghvi, now with the Hindustan Times Group, who was also on the board of INX held a 3-per cent stake in the channel.  Following Sanghvi's departure there had been speculation about the sale of INX News as the channel suffered low TRPs. It is also believed that the company was also facing a liquidity crunch and was unable to meet payrolls and payments for its leased equipment.

The INX Group comprises four companies - human resources firm INX Services Private Limited and INX Executive Search Private Limited; media broadcasting firm INX Media Private Limited and INX News Private Limited - all of which were built from scratch with a strong projection in internationally.

Betweem 1996 and 2007 INX was exclusively HR focused. In 2007 when Peter Mukerjea came aboard unofficially (he was bound by a no compete clause from Star) the company diversified into media.

Sources indicate that only INX News has been sold and INX Media Ltd, which holds the entertainment channels, has not be sold. It is possible that the promoters will look for other buyers for it.

Also see:  Peter Mukherjea's INX to launch TV network