BQ Prime

Last updated

BQ Prime
Industry Business news
Founded2016;8 years ago (2016)
Defunct8 December 2023;12 months ago (8 December 2023)
Successor NDTV Profit
Headquarters
New Delhi
,
India
Key people
Anil Uniyal
(CEO) [1]
Owner
Website www.bqprime.com OOjs UI icon edit-ltr-progressive.svg

BQ Prime, formerly BloombergQuint, [2] was an Indian business and financial news organization founded as a joint venture of Bloomberg News and Quintillion Media. [3] [4] It was acquired by Adani Media Ventures Pvt. Ltd. In 2022 and was merged with NDTV Profit of NDTV which is part of Adani Group in December 2023. [5] Its main content was based on the Indian economy, international finance, corporate law and governance and business news. Within six months of going live, the web portal had one million monthly users, and there were plans to open a free-to-air TV channel. [6] [7] In July 2017, digital video analytics provider Vidooly rated BloombergQuint as the ninth most popular news brand among what it termed new-age news publishers. [8] In September 2017, BloombergQuint launched a digital live streaming service available on its website (www.bloombergquint.com), the Bloomberg Terminal and BloombergQuint social platforms. [9] [10] [11] The service includes daily live programming from both global and local markets. It launched a WhatsApp service in November 2017. [12] [13] [14] [15] It also announced a partnership with Nasscom, T-Hub and the government of Karnataka to launch 'ScaleUP', an initiative designed to help emerging companies and start-ups scale for growth in November 2017. [16]

Contents

History

Raghav Bahl, the founder and former managing director of Network 18, [17] set up Quintillion Media along with his wife Ritu Kapur [18] within six months of his controversial exit from Network18 in July 2014. [19] Later, he signed a joint venture with Bloomberg L.P. to launch a digital product – BloombergQuint and a TV channel. According to the deal, Raghav Bahl would own 74% stake and Bloomberg the remaining 26%; the pact was for a 10-year period, as reported by Livemint. [20] NASSCOM, T-Hub and Government of Karnataka partnered with BloombergQuint to launch ScaleUp an initiative to help emerging companies and start-ups scale for growth. Somdutta Singh, co-chair of NASSCOM Product Council, was the Chief Strategic Advisor for ScaleUp. [21]

On 5 May 2022, the company changed its name from BloombergQuint to BQ Prime. [2]

TV channel

After an initial decision by Quint to scale back operations to focus on digital only, the partnership with Bloomberg continued. While in 2016 the BQ combine had nod of FIPB for an English news channel they were unable to acquire a broadcast licence from the Ministry of Information and Broadcasting (India). Following this in 2017, BQ acquired a licence of Y TV from Horizon Satellite Services Private Limited and applied for a name change of the licence to BloombergQuint in the Ministry. [22] By 2020, the company decided to shut down the broadcast division and write off Rs 200 crores. By 2022, the partners Bloomberg and Quint parted ways as they still did not have a license. Having failed with Quint, Bloomberg was seeking Indian partners for its third planned stint in the Indian market. [23] [24]

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References

  1. ↑ "Raghav Bahl ties up with Bloomberg, to launch new TV channel". The Hindu . 12 April 2016.
  2. 1 2 "BloombergQuint is now BQ Prime!". YouTube . Retrieved 6 May 2022.
  3. ↑ "Bloomberg Launches Joint Venture in India to Deliver Business News". 12 April 2016.
  4. ↑ "Face off: 'The Bloomberg partnership wasn't a planned move'". 10 May 2016.
  5. ↑ "Bloombergquint announces transformational changes".
  6. ↑ "Bloomberg Quint hits 1 million Monthly users within Six Months of Going Live".
  7. ↑ "Bloomberg, Raghav Bahl launch joint venture for news channel, portal". 12 April 2016.
  8. ↑ "Vidooly rates BloombergQuint as most popular business news publisher on FB video". Tvnews4u.com. 20 July 2017.
  9. ↑ "Bloomberg Quint aims to capture Indian business audience with its new digital live streaming service". Thedrum.com. 25 September 2017.
  10. ↑ "BloombergQuint Launches Digital Live-Streaming Service". Thequint.com. 22 September 2017.
  11. ↑ "Bloomberg|Quint launches live streaming service in India". Rapidtvnews.com. 25 September 2017.
  12. ↑ "First Impressions: BloombergQuint launches WhatsApp service to distribute latest news". Medianama.com. 13 November 2017.
  13. ↑ "Bloomberg Quint launches WhatsApp business news service". Indiantelevision.com. 16 November 2017.
  14. ↑ "Bloomberg|Quint launches WhatsApp business news service". Daily Hunt. 16 November 2017.
  15. ↑ "Bloomberg|Quint launches WhatsApp business news service". Mouseworldnow.com. 18 November 2017.
  16. ↑ "Telangana's T-Hub joins hands with Nasscom, others for 'ScaleUP'". Telanganatoday.com. 14 November 2017.
  17. ↑ "Raghav Bahl: The digital ball game". 10 January 2015.
  18. ↑ "Bloomberg Announces Alliance With Raghav Bahl's Quint".
  19. ↑ "As Arnab Goswami, Raghav Bahl and Barkha Dutt set up their own ventures, here's how they intend to disrupt yet again". 28 February 2017.
  20. ↑ "Raghav Bahl, Bloomberg ink deal to launch news channel, website". 3 March 2016.
  21. ↑ "Nasscom, T-Hub and Government of Karnataka partners with Bloomberg|Quint to launch 'ScaleUP' initiative -". www.itvarnews.com. 13 November 2017. Retrieved 10 January 2018.
  22. ↑ BloombergQuint ready for launch; awaits licence name change approval from MIB Archived July 29, 2018, at the Wayback Machine
  23. ↑ Bansal, Shuchi (22 April 2020). "BloombergQuint shutters TV division, writes off ₹200 crore". mint. Retrieved 9 May 2022.
  24. ↑ IANS (3 December 2019). "TDSAT order on Bloomberg Quint's TV channel name change on December 9". Business Standard India. Retrieved 9 May 2022.

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