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MP Rajeev Chandrasekhar invests Rs 30 cr in Arnab Goswami’s The Republic

Rajeev Chandrasekhar, a member of Parliament in the Rajya Sabha, was named nominee director of  in ARG Outlier Media Private Limited, the company which will be running The Republic, a media venture by floated journalist Arnab Goswami. The Indian Express reports that Chandrasekhar has invested Rs 30 crore in ARG Outlier through companies owned by him. Most notably, Asianet News Online Private Limited has been allotted 100 Series A equity shares worth Rs 12.3 lakh.

Calls to the Chandrasekhar were not answered while his office declined to comment on the investment at the time of publishing.

Chandrasekhar, who has been a Rajya Sabha member from Karnataka since 2006, is also a director in Jupiter Capital. Jupiter Capital has invested in Kannada news channel Suvarna News and Kannada daily Kannada Prabha. Jupiter’s other media investments include Radio Indigo and Asianet.

Goswami, the former editor of television channel Times Now, was named managing director of ARG Outlier on November 19  while Chandrasekhar was appointed as nominee director on November 24.  SARG Media Holding Private Limited — also owned by Goswami — is the other main investor in ARG Outlier. SARG, in which Goswami and his wife Samyabrata Ray Goswami are directors and own most of the equity.

The Indian Express report added that Amit Gupta, chief operating officer of Jupiter Capital wrote an email that said all editorial talent to be hired should be “right of center in his / her editorial tonality”, “Pro-India, Pro-Military”, “aligned to Chairman’s ideology” (chairman being Chandrasekhar). Gupta, however, requested the email be “ignored” the next day.

Arnab Goswami had launched The Republic in December and the channel’s Twitter account has been inviting reporters, designers to join the venture.

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