Is Bloomberg's joint venture with Raghav Bahl’s Quintillion Media set to break?

Is Bloomberg LP's joint venture with Raghav Bahl’s Quintillion Media set for a break?

Conflicting reports currently exist.

According to a report by Moneycontrol, Billionaire Michael Bloomberg is all set to break the JV in order to pave the way for conversations with other media houses in India.

According to the report, Bloomberg is believed to have approached other groups in the country with regards a potential tie-up. Sources cite Bahl's inability to get a television license as being part of the reason for the same.

According to an IANS report, however, Bahl has rubbished the claim as being "some nonsense has just been published by our competitor who is getting very nervous about our imminent TV launch".

In a letter to employees, Bahl reportedly said that this was a "ham-handed" method to "get back" at "Bloomberg's article on N18's sale to TOI".

The final order of the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) on the name change sought by Bloomberg Quint for the TV channel incidentally is expected to come on December 9.

Quintillion Business Media Private Ltd (QBM), a joint venture between Raghav Bahl and Bloomberg, had acquired a company called Horizon Satellite Service Private Ltd. Horizon owned licenses of 2 news and current affairs television channels. After its acquisition by QBM, Horizon has been seeking name change of the television license it holds.

Currently, the channel is called "Y TV" and Horizon has made an application to Ministry of Information and Broadcasting to change the name to to "Bloomberg Quint".

Horizon has applied to the TDSAT for the delay in change of name by the Ministry and sought a direction from the it to the Ministry for the change to Bloomberg Quint.

In related news, US President Donald Trump's campaign has announced that it will ban Bloomberg journalists from its campaigns and rallies after the news agency refused to investigate its owner, Michael Bloomberg, a Democratic candidate for the 2020 presidential election.

(With inputs from IANS)