Media and entertainment firm UTV Software on Thursday said it will enter into a strategic partnership with Bloomberg for content sourcing and re-branding its business channel UTVi.
In a filing to the Bombay Stock Exchange UTV Software said both the companies would collaborate on a television channel and in the next month business news channel UTVi would be re-branded as Bloomberg-UTV.
Besides, the website UTVi.Com would be rebranded as bloombergutv.Com, it added.
"By working with UTV to realise our shared vision for business and financial television, Bloomberg renews its commitment to delivering business, economic and political news to viewers in India, and... Across the globe," Bloomberg Multimedia group Chief Executive Andy Lack said.
UTV News Chairman Ronnie Screwvala said, "The addition of 14-15 million TV sets every year will drive viewership of business news in India. This is where our association with Bloomberg will create impact for the India market."
Shares of UTV Software gained nearly five per cent to Rs 508 in morning trade on the BSE. It was later quoting at Rs 493, up 1.63 per cent over previous close.