Editor-turned-entrepreneur Shekhar Gupta’s Mediascape Pvt Limited is planning to launch products for the television, digital and print media in the news genre, reports Mint. For starters, Mediascape will produce two new television shows for NDTV’s English news channel. Gupta also hosts NDTV’s Walk the Talk interview show.
Gupta told the publication that the company’s first digital product may take four-five months as he’s still negotiating for the domain name registered by someone else and that the print product’s brand name is likely to share the same name.
Currently, Gupta is investing his own money in the enterprise and says that it can fund the operations for the first six months at its initial scale. He also denied speculation that Nandan Nilekani will part-fund his venture right now. Registered in 2000, Mediascape has an authorized capital of Rs 10 lakh and a pre-paid up capital of Rs 1 lakh (source). The company has Shekhar Gupta, current Indian Express editorial head Raj Kamal Jha, and senior vice-president of Indian Express group Usha Uppal, as directors.
Shekhar Gupta who was editor-in-chief of the Indian Express for 15 years had a 9% stake in the company which owned Express Towers in Mumbai. When Express Towers was sold to private equity player Blackstone for a reported valuation of Rs 975 crore earlier this year, his stake was reduced to 1.2% and it is reported that he made money on the transaction. Gupta had resigned from the Indian Express in June last year, joined the India Today group briefly as vice-chairman, and then moved to an advisory role in the company.
Raghav Bahl’s digital venture Quintillion Media: Last month, Network18 founder Raghav Bahl had launched a digital news venture called Quintillion Media comprised of mostly former Network 18 employees. The details on Quintillion Media are still a bit sparse at the moment, although Bahl’s wife and Quintillion Media director Ritu Kapur’s LinkedIn profile suggests that they will launching a mobile first news product. In July this year, Bahl had mentioned that they will begin with Hindi and English, and then move to regional news.