Network18 Media & Investments Limited, informally referred to as the Network18 Group, is an Indian media and entertainment group. The group was founded and majority owned by Raghav Bahl in 1993, after India liberalised its economy and media ownership laws in early 1990s. In the 2000s, the Group grew into one of the largest collection of media properties in India through debt financing and international licensing deals with global media brands. By late 2011, according to a LiveMint article, the Network18 group had amassed a large debt, was running in loss and banks were unwilling to lend the group additional capital. Bahl's Network18 group sought capital from the Reliance Industries Ltd in 2012, then closed loss-making ventures, laid off employees, and trimmed the size of the Group over the next two years. On May 29, 2014, under the terms of its 2012 financing, the Reliance Industries Limited group took over the Network18 empire to integrate it with its 4G, Jio wireless content-distribution strategy. The Group's leadership team is headed by chairperson Adil Zainulbhai and managing director Rahul Joshi in 2019.
|Headquarters||Mumbai, Maharashtra, India|
|Rahul Joshi (Managing Director)|
|Revenue||₹5,116 crore (US$740 million) (2019)|
|₹-303 crore (US$−44 million) (2019)|
Number of employees
At its peak, the Network18 Group has included media and internet-based media outlets such as in.com, IBNlive.com, Moneycontrol.com, Firstpost.com, Cricketnext, Homeshop18, bookmyshow.com, print magazines such as Forbes India and Overdrive, TV channels such as Colors and some in partnership with international media groups such as NBC, CNN, IBN7, MTV, Nickelodeon, and CNBC. According to Network18 Group's 2018 annual report, it had 70 crore (700 million) viewers, employed 1,200 journalists for sourcing content, 3,000 employees on its payroll, and 20 television channels in 15 Indian languages.
The company was incorporated as a private limited company on 16 February 1996. In April 2006, the name was changed from SGA Finance and Management Services Private Limited to Network18 Fincap Private Limited and subsequently in November 2006, it was converted into a Public Limited company. Network18 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 ₹5 each opened at ₹312.10 at the NSE and at ₹300 at the BSE. The same year in December, its name was changed from Network18 Fincap Limited to Network18 Media & Investments Limited.
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 – Network18 and TV18. Network18 undertakes the digital and publishing side of the business and TV18 contains the television assets of the group.
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 Independent Media Trust (IMT) might eventually gain a controlling interest. In July 2014, the ownership was transferred to Independent Media Trust. On 29 May 2014, Reliance Industries Ltd (RIL) 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 ₹4,000 crore (40 billion) to Independent Media Trust (IMT), 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 Network18 take-over.
TV18 Broadcast Limited is the broadcasting arm of Network18. TV18 operates India’s largest selection of News channels across 15 language and 26 states; with channels like CNBC-TV18, CNBC Awaaz in Business News and CNN News18, News18 India in General News. Through its JV Viacom18, it also operates a number of entertainment channels across genres, including leading premium local channels like Colors, Nickelodeon and MTV. A subsidiary of TV18, the network operates a selection of 13 regional news channels under the News18 brand name. TV18 also operates a joint venture with the Lokmat Group which houses the Marathi news channel News18 Lokmat. To cover the global audience & sizable NRI population, TV18 operates News18, a twenty-four hour television news channel designed to give the world largest democracy, the latest news.
Network 18 operates the following channels.
Network 18's digital content and commerce segment includes a portfolio of brands catering to a wide range of interests and services, including news and entertainment, markets and finance, online shopping and ticketing, and mobile phone services and applications.
Notes and referencesEdit
- Network18 Fourth Quatar Results, LiveMint (May 30, 2019)
- Group Annual Report: 2018, Network18 Group, SEBI filings (2019), pages 2-4, 61 for current data; Network18 Group, About Us, Board and Management Team (May 15, 2019)
- Corporate restructure complete for India’s Network18
- "Network18 Media & Investments Limited: Private Company Information". Bloomberg.
- Inside the Network18 takeover, Ashish Mishra, LiveMint (The Hindustan Times Gp), (25 Jun 2014)
- Reliance Takes Over Network18: Is This The Death Of Media Independence?, Forbes, Megha Bahree (May 30, 2019)
- "My dream to own a newspaper is dead". Financial Express. 30 September 2014. Retrieved 21 October 2018.
- Exits galore as RIL takes over Network18, LiveMint (May 30, 2019)
- "Restructure complete for Network 18". rapidtvnews.com. Retrieved 10 August 2011.
- Sandeep Bamzai (14 January 2012). "RIL deal-Network18: Is Mukesh Ambani the new media mogul?". India Today.Quote: the instrumentality ... is an optionally convertible debenture which has every possibility of turning into equity. Analysts say that going forward, Ambani will turn into a majority stake-holder of Network 18 and TV18 through this mechanism. On 29 May 2014, Mukesh Ambani owned Reliance industries, purchased the company for a reported Rs. 40 billion
- "RIL to acquire control of Network 18, Rajdeep may go". HT Media Limited. Retrieved 29 May 2014.
- "RIL completes Network 18 takeover". Patrika Group. 8 July 2014. Retrieved 9 July 2014.
- "Network18 finishes Rs 2,053-cr deal to acquire ETV stakes". 10 February 2018 – via The Economic Times.
- "NETWORK 18". www.network18online.com.