A newly formed joint venture between NaiDunia promoter and CEO Vinay Chhajlani and former Businessworld editor Jehangir S Pocha, has bought INX News, the company that runs the English news channel NewsX.

For this purpose, both Chhajlani and Pocha have formed a company called Indi Media. However, the size of the deal is still unknown.

Chhajlani is the CEO of NaiDunia Media Pvt. Ltd, which runs popular Hindi daily NaiDunia. In July last year, Chhajlani established a multilingual Web portal called Webdunia. Besides this, he also runs a US-based technology and enterprise and Web solutions company Diaspark Inc. He has roped in Jehangir Pocha, the outgoing editor of ABP Pvt. Ltd owned English weekly, Business World, to head operations at NewsX.

Speaking on this, Indrani Mukerjea (INX Media Founder & CEO) said, “Having created NewsX as a premier English news channel brand in such a short span of time, I hope the channel would continue to grow from strength to strength and would retain its credibility as it always has."

INX News Pvt. Ltd is a subsidiary of INX Media Pvt. Ltd, a broadcast company promoted by former Star India CEO Peter Mukherjea and his wife Indrani Mukherjea. It may be here recalled that NewsX was launched in March 2008 by the INX News. News X is India's only HDTV ready news channel. The group also owns 9x and 9XM news channels.

INX News had been talking to Rajeev Chandrasekhar's Jupiter Capital and Dainik Bhaskar promoters, but could not come to an agreement on the price.

Currently, there are six 24-hour English news channels in the country.