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Essel Group picks up stake in UNI
 

Indiantelevision.com Team

(7 September 2006 4:00 pm)

 

NEW DELHI: The Subhash Chandra-promoted Essel Group, which is the co-owner of DNA newspaper along with the Dainik Bhaskar group, has joined the United News of India (UNI) board as a shareholder.

News agency UNI has shareholding from about nine big media organisations who also form the board of the news organisation formed in 1961.

Confirming the development, Essel Group senior vice-president Ashish Kaul said, "We are on the board of UNI now as a shareholder, but the quantum of the holding cannot be disclosed at this point of time."
Kaul also clarified that Zee Telefilms, also an Essel Group enterprise, has nothing to do with the UNI deal. The other shareholders and board members of UNI include media outfits like HT Media, Times of India group, Ananda Bazar Patrika and The Hindu.

Chandra has used his investment vehicle, Mediawest, to conclude the UNI agreement.

Launched in March 1961, UNI has grown into one of the largest news agencies in Asia. today it serves more than 1000 subscribers in more than 100 locations in India and abroad. They include newspapers, radio and television networks, web sites , government offices and private and public sector corporations.
The agencies communication network stretches over 90,000 kms in India and the Gulf states with bureaux in all major cities and towns of India.

UNI has collaboration agreements with several foreign news agencies, including Reuters and DPA , whose stories are distributed to media organisations in India.

Apart from that, UNI has news exchange agreements with Xinhua of China, UNB of Bangladesh, Gulf News Agency of Bahrain, WAM of the United Arab Emirates, KUNA of Kuwait News Agency, ONA of Oman and QNA of Qatar.

 
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