Rajeev Chandrasekhar’s Asianet pares stake in Arnab Goswami’s Republic TV

Media baron and Member of Parliament, Rajeev Chandrasekhar-promoted Asianet News Media & Entertainment, has diluted its shareholding in The Republic Media Network by selling a chunk of its shares to the latter’s Managing Director and Editor-in-Chief, for an undisclosed amount.

Without giving any details, Asianet confirmed the development, stating that it is now a minority investor, compared to its previous position as a significant shareholder in the news channel.

With the buyback of shares by Goswami, for which an agreement has been signed with Asianet News Media, the Republic Media Network will be a completely editor-controlled company. The investors have made healthy returns on their investment.