MUMBAI: After seven years of partnership, Bloomberg L.P. and Business Broadcast News have decided to end their media licensing agreement in India on 31 March, 2016.

Both parties have mutually ended the licensing agreement and will pursue their respective new business strategies.

While Business Broadcast News will continue to operate the TV channel with fresh branding effective 1 April, subject to regulatory approval, Bloomberg will announce a new media partner in due course of time.

“Our strategic partnership with Reliance Group and Ronnie Screwvala enabled us to successfully reach millions of viewers in India, and deliver market-moving business and financial news on India's growth and development,” said Bloomberg Media Group - International managing director Parry Ravindranathan. 

“Together, we set new standards in financial broadcast journalism, and we will continue to value our relationship with both partners. In the coming weeks, we will unveil a new chapter for Bloomberg Media in India as we remain more committed than ever to expanding our media operations this year both in broadcast, digital and other platforms,” he added.

Business Broadcast News director Tarun Katial said, “In recent years, the channel has witnessed consistent increase in reach and viewership, and created a benchmark for credible business news reporting with experienced anchors and marquee shows. We have had great learnings drawing upon the global expertise and credibility of Bloomberg, and we look forward to maintaining this strong relationship in the years ahead.”