Network 18
Network18 Media & Investments Limited is
an Indian mass media company which is owned and operated by Reliance
Industries. Headquartered in Noida, India. It has interests in television,
print, internet, film, mobile content and allied businesses. Network 18 FinCap
is the holding company for several media entities in India such as Television
Eighteen India Ltd, HomeShop18, CNN-IBN, First Post, IBN 18 Broadcast Ltd, Web
18, Studio 18, Shop 18, Infomedia 18, and Viacom 18.
History The company was incorporated as a
private limited company on 16 February 1996.
In 2006, it was converted to a
public limited company. The name of the company was changed from SGA Finance &
Management Services Private Limited to Network 18 Fincap Private Limited with
effect from 12 April 2006. Network 18 got listed on the Bombay Stock Exchange
and the National Stock Exchange on 2 February 2007. The shares of the company
of face value of Rs 5 each opened at Rs 312.10 at the NSE and at Rs 300 at the
BSE. Since the company was created as part of the re-structuring of TV18 to
comply with foreign ownership laws for news channels in India, it did not have
to list through a public issue.
Raghav Bahl founded and served as
managing director till July 2014. In Jan 2012, there was a large investment by
Mukesh Ambani's Reliance Industries Limited in a complex deal that offered a
possibility that Ambani-held Indian Media Trust might eventually gain a
controlling interest. In July 2014, the ownership was transferred to Indian
Media Trust. Acquisition
On 29 May 2014, Reliance Industries Ltd announced it would be acquiring control
in Network 18 Media & Investments Ltd, including its subsidiary TV18 Broadcast
Ltd. The board of RIL approved funding of up to Rs. 40 billion to Independent
Media Trust, of which RIL is the sole beneficiary, for acquisition of control
in Network 18 and its subsidiaries. On 8 July 2014, RIL stated that it has
completed the Network 18 take over. Following the acquisition, the entire
founding team – editorial and managerial- resigned from the group.
Rajdeep Saradesai, editor-in-chief of CNN IBN, wrote in a letter to the
employees before his resignation, "Editorial independence and integrity
have been articles of faith in 26 years in journalism and maybe I am too old now
to change!".
Certain reports claim that the
acquisition by Reliance can pose a serious threat to the independence of
media in India. Umesh Upadhyay, President News at Network18, strongly
denied such suggestions stating "What happens in a newsroom is a sacrosanct
editorial function". Companies
TV18 is a listed company which runs business news channels CNBC-TV18 in
English and CNBC Awaaz in Hindi and owns most of Web 18. In 2006 it acquired
CRISIL Market Wire which was renamed Newswire 18.
Network 18 holds 57% in IBN 18 Broadcast Ltd, headed by Rajdeep Sardesai, which
runs general news channels CNN-IBN in English, IBN-7 in Hindi and IBN-Lokmat
in Marathi in JV with Marathi newspaper Lokmat. GBN in turn owns a small
stake(15%) in Web 18. Web18 is an unlisted umbrella company
for all Network 18 web properties such as moneycontrol.com, in.com,
IBNLive.com, josh18.com, cricketnext.com, commoditiescontrol.com,
tech2.com, poweryourtrade.com, easymf.com, compareindia.com, First Post
and upcoming women's and automotive portals.
The company also owns stakes in
Jobstreet, Yatra.com and BookMyShow.com. Studio 18 is a newly formed division of
Network 18 for film production and financing.
HomeShop18 launched the Home-shopping television network.
Webchutney, a digital marketing agency. InfoMedia 18… now Network 18
Publishing, a media company with Magazine Publishing, Printing Services,
Publishing Outsourcing Services, Engineering & Manufacturing trade Shows.
The company also owns Viacom 18, which has channel like Colors TV, MTV India,
Nick India and VH1 India.
Viacom 18 has plans to launch a Hindi movie channel
and some regional-language channels in near future.
Sun 18 -In 2010 it entered into JV with Sun Network to distribute its channels
through cable, DTH, IPTV, HITS and MMDS. Sun18 Media Services North and South
were formed. Sun 18 South focuses on the non-Hindi-speaking markets and is
managed by the Sun Network. Sun 18 North focuses on the rest of Indian markets
and is operated by the Network18 Group. Network18 publishes Forbes India, the
nation's first local edition of a foreign news magazine title and one of
the world's most influential business brands, in collaboration with Forbes
Media. = List of companies=
TV18, a joint venture of Network18 and NBCUniversal which is concerned with the
Television business. Network 18, the venture which is
concerned with undertaking the digital and publishing business.
= Network TV channels= = Internet offerings=
in.com, launched on 21 July 2008, in.com has news, songs, videos, games, among
other media. Within a few months of its launch the site became very popular as
India's leading general interest web destination.
moneycontrol.com is Asia's largest and the world's second largest financial and
business portal; providing real time coverage on market movements, key expert
insights and discovering intrinsic dynamics between the various market
participants.
It has more than 1 million registered users and receives more than
150 million page views per month. firstpost.com – An online news website
meant to be accessible across multiple digital platforms
Bookmyshow.com – Launched in 1997, bookmyshow is an E-ticketing website.
poweryourtrade.com Is a financial advisory portal giving investment
advice, market news, and analysis to investors and traders.
commoditiescontrol.com brings its user a deep understanding of the Indian
commodity space.
It has first hand information of prices from over 100 spot
markets making it one of the most credible commodities information and
research service provider in India. Cricketnext.com – Was launched in 2000,
and provides the latest information on cricketing events around the globe. It
has many interactive features like daily polls, celebrity chats, and forums.
Compareindia.com provides customers free information on the product they would
like to buy. The site contains 37 product categories: Audio systems,
televisions, washing machines, microwave ovens, refrigerators, fax machines,
photocopiers, and printers, amongst others.
tech2.in.com Provides the news of latest happenings in the technology world. It
also contains reviews of the technology products; from tablets, to smartphone,
to laptops. homeshop18.com is a nationally televised
home shopping service, which uses interactive electronic media, primarily
through cable TV and internet to sell credible brands.
It acquired online
books, movies and music retailer Coinjoos.com, which was started in
November 2009 by the Noida-based technology start-up called On-Graph
Technologies, in an all-cash deal. The company has plans to discontinue the
Coinjoos.com brand and merge the books business of On-Graph Technologies with
Homeshop18.com. fakingnews.com an Indian news satire
website that publishes fake news reports containing satire on politics and
society of India, had been acquired by Network 18-led First Post.
= Restructuring= The Network 18 Group announced a
restructuring plan to create a two listed entity structure for the group in
July 2010. The restructuring became effective on 10 June 2011 with the
approval of the Delhi High Court and the group successfully completed the
re-alignment of its business operation into 2 sections – Network 18 and TV18.
Network18 undertakes the digital and publishing side of the business, TV18
will undertake the television assets of the group.
Controversy and criticisms = Abrupt firing of Forbes India editor=
In June 2013, it was reported that the Forbes India editor Indrajit Gupta was
fired after he refused to accept a severance package without consulting his
lawyers.
On the same day, the Managing Editor, Charles Assisi was forced to
quit on the same grounds. The following day, Executive Editor Shishir Prasad,
Director Photography Dinesh Krishnan and Director Online Deepak Ajwani were
called in and asked to accept the new terms or quit. Shishir Prasad and Dinesh
Krishnan quit while Deepak Ajwani stayed on. The Press Club, Mumbai condemned the
incident. The CEO of Network18 Group said that the problems were due to the
restructuring of the Network18 Group with the merger of Firstpost.com and
Forbes India. See also
A Billion Hands Concert Notes and references
External links Official website.
