Last Updated: December 06, 2023, 21:23 IST
TV18 Broadcast Ltd and e-Eighteen.com Ltd or E18, which owns and operates Moneycontrol web site and app, will merge with Network18. (Representational picture)
Network18 mentioned the merger goals to simplify the corporate’s holding construction and create India’s main built-in information media conglomerate
Network18 Media & Investments Ltd on Wednesday introduced the merger of its tv and digital information companies into one firm. This means TV18 Broadcast Ltd and e-Eighteen.com Ltd or E18, which owns and operates Moneycontrol web site and app, will merge with Network18.
According to Network18, the board of administrators of the respective corporations authorised the ‘scheme of arrangement’ throughout conferences. The merger goals to simplify the corporate’s holding construction and create India’s main built-in information media conglomerate, the corporate mentioned.
Network18 mentioned this transfer will allow it to consolidate and additional develop its enterprise from a place of energy. It may also give a singular alternative to all shareholders to participate within the media enterprise of the group by one listed entity, the corporate added.
“The proposed scheme will consolidate TV and digital news businesses of the Network18 group in one company and will help create India’s largest platform-agnostic news media powerhouse with the widest footprint across languages, straddling both TV and digital. It will enable Network18 to consolidate and further grow its business from a position of strength. This will present a unique opportunity to all shareholders to participate in the media business of the group through one listed entity,” Network18 mentioned in a press launch.
The press launch said that the merged entity will comprise the TV portfolio of TV18 (20 information channels in 18 languages and CNBCTV18.com), digital belongings of Network18 (News18.com platform throughout 13 languages and Firstpost) as additionally Moneycontrol web site and app. Viacom18 with its portfolio of JioCinema and 40 TV channels might be a direct subsidiary of Network18, which is able to proceed to maintain its funding in BookMyShow.
Network18 additional mentioned the built-in presence throughout TV and digital media will allow the merged entity to higher serve customers and advertisers. “…Further, as Network18 group has been working towards convergence, an integrated entity for news gathering and dissemination is expected to result in cost and content synergies,” the corporate added.
Disclaimer:Network18 and TV18 – the businesses that function News18.com – are managed by Independent Media Trust, of which Reliance Industries is the only real beneficiary
