Posts Tagged ‘network 18’

Network18 puts The Indian Film Company on sale; Roptonal Limited likely buyer

October 18, 2010

In a recent announcement, Network18 Media & Investment has indicated about a possible sale of The Indian Film Company (TIFC), which is London based Films production company. The possible buyers are Roptonal Limited, Cyprus, a subsidiary of Viacom 18 Media Private Limited.

Network 18 has declared of accepting a purchase proposal for TIFC from Roptonal at a price of 115.56 pence. Network18 had made an open offer at 40 pence per share to up its stake to 80.4 per cent in TIFC.

The board of directors of Roptonal Limited, Cyprus, a subsidiary of Viacom 18 Media Private Ltd, has made an offer for the issued share capital of TIFC, Network18 Media said in a filing to the Bombay Stock Exchange.

Network18 Media & Investments Limited, which together with certain affiliates owns 80.4 per cent of the voting shares in TIFC, has considered this offer beneficial to its shareholders and has given an irrevocable undertaking to accept the offer, the filing said.

The latest move of Network18 is speculated to have been taken under the company’s strategy of consolidation of its entertainment businesses with Viacom18’s same ventures.

However, prior to this, in the month of July also, the company indicated towards the possible acquisition of TIFC.

Network18 boards to discuss restructuring

July 4, 2010

In a statement, big media players from the Network18 group have declared about their proposed meeting on 7th date of current month. Boards of Television Eighteen Limited, IBN18 Broadcast and Network18 Media are going to share the table for discussions on the issue of restructuring. However, no further details have been provided regarding the matter.

Network 18 owns business channels like CNBC-TV18 and CNBC Awaaz under the banner of Television 18. The company also possesses general news channels CNN-IBN, IBN7 and IBN Lokmat under the banner of IBN 18.

Network18, Forbes to launch business magazine in India

December 14, 2007

Network18 is all set to launch a business magazine in India in partnership with Forbes Media, which includes a content licensing arrangement envisaging the introduction of other Forbes products too.

Raghav Bahl, Managing director, Network18, said “Our partnership with Forbes for a business magazine in India is another compelling testimony to the growing acceptance of the Indian growth story worldwide. Rapid economic expansion, change in consumer mind sets and deepening of the market economy in the country have led to an enabling environment for business brands. We will be strongly positioned to deliver a benchmark offering in the market by fusing the strong editorial and brand lineage of Forbes and our proven expertise in the Indian business media market.”

Steve Forbes, Chairman, CEO and Editor-in-Chief, Forbes, said, “India is one of the prime markets Forbes has wanted to enter for sometime. We were waiting for the right partner and are so pleased that we have reached a partnership agreement with Network18, one of the most respected and fastest-growing media companies in India. We look forward to making Forbes available to this forceful market soon.”

Haresh Chawla, Group CEO, Network18, observed, “Forbes is an ideal partner for us as we expand our competence in the print medium and thus strengthen our position as one of India’s leading full-play media conglomerates. India’s readership potential is yet to be fully tapped and as the market evolves, credible and strong brands will succeed in the print space. With our experience in business media as well also our ability to deploy global media brands successfully in the Indian market, we are confident of an enriching association with Forbes.”

Chawla further said that there was “a lot of opportunity for value creation in this partnership by unleashing cross-platform synergies and developing a roster of market leading offerings in the coming years. The addition of Forbes will further energize our business portfolio which already commands leadership through CNBC-TV18 and CNBC AWAAZ, Newswire18 and web offerings such as,”

William Adamopoulos, President and Publisher of Forbes Asia, commented, “As the world’s foremost champion of entrepreneurial capitalism, we at Forbes are excited to partner with the accomplished media entrepreneurs at Network18 to bring the Forbes brand and style of journalism to India , home of many of the world’s greatest entrepreneurs. This partnership in India complements and builds upon our existing Pan-Asia network of Forbes Asia, Forbes China, Forbes Korea and Forbes Nihonban.”

Forbes magazine is a business brand celebrating 90 years of existence this year. In recent years, Forbes magazine has increased its international presence with highly successful titles such as ‘Forbes Asia’ and licensed local language editions such as ‘Forbes China’, ‘Forbes Russia’, ‘Forbes Arabia’ amongst others.