Bloomberg Media & Quintillion Media end equity joint venture
The companies have entered a new content license agreement
Bloomberg Media and Quintillion Media today announced the restructuring of their partnership in India. The companies have ended their equity joint venture in favor of a new content license agreement.
Launched in 2017, the site combined Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s expertise in the Indian market and digital news delivery, to provide high-quality business news, insights and trends for India’s audiences.
“We have valued our relationship with the Quintillion Media team. While we have mutually decided to shift the focus of our work together, Bloomberg Media remains committed to our presence in India and look forward to a continued relationship with Quint", said M Scott Havens, CEO, Bloomberg Media.
“Our joint venture with Bloomberg Media was the embodiment of resilient energy. Our digital-only premium subscription product has quickly become the market leader. Even as our terms of engagement with Bloomberg Media have changed, we look forward to imparting a new energy and spirit to the new website”, said Raghav Bahl, Co-founder, Quintillion Media.
Bloomberg Media is a multi-platform media company for business and finance, which draws on the editorial resources of more than 2,700 editorial professionals globally in more than 120 countries. Bloomberg Media is the consumer-facing media organization of Bloomberg L.P.
Quintillion Media is part of Quint Digital Media Limited. With its flagship product TheQuint.com in English and Hindi (hindi.thequint.com), it has pioneered a new form of digital journalism and storytelling for the mobile-first, social-native consumer.
