The Network18 Group has completed the re-alignment of its business operations into two sections – Network18 and TV18 – the first to encompass the digital and publishing side of the business, while the second will look after television assets.
The restructuring, which was announced in July 2010, received approval by the Delhi High Court on 26 April 2011. The company filed a court order with India’s Registrar of Companies on 10 June and then announced its corporate changes to the Stock Exchange of India.
“I am delighted that this process has been completed,” said Raghav Bahl, founder and managing director, Network18. “The optimisation of the group structure heralds a new growth phase in our journey and will help catalyse value creation for all our stakeholders.”
TV18 will now operate the group’s television broadcasting and distribution properties, including business news channels CNBC TV18 and CNBC Awaaz and general news channels CNN IBN and IBN 7. The division will also take care of the 50% stake in Viacom 18, with its entertainment channels Colors, MTV, Nickelodeon and VH1, as well as its film arm Viacom 18 Motion Pictures. The group’s 50% holding in IBN Lokmat and the 51% stake in AETN18 will also fall under TV18’s remit.
Network18 will meanwhile, continue to have a controlling interest in TV18, and house equity interests in cable operator DEN Networks, as well as the Yatra, Infomedia 18, NewsWire 18 and Capital18 companies.
Network18 will also operate the group’s digital and eCommerce assets. These include moneycontrol.com, in.com, HomeShop18 and bookmyshow.com, as well as publications such as Forbes India.