Network18 to Merge TV18 and E18, Consolidating Television and Digital News Assets
Thursday, 07 December 2023, 09:40 IST
Network18 Media & Investments Ltd. (Network18) and TV18 Broadcast Ltd (TV18) have revealed a Scheme of Arrangement, wherein TV18 and e-Eighteen.com Ltd are set to merge with Network18. This strategic move aims to streamline the TV and digital news operations within the Network18 group, establishing India's premier platform-agnostic news media entity. The consolidation will result in the country's largest news media powerhouse, encompassing a broad linguistic spectrum and spanning both television and digital platforms.
As per the envisioned merger plan, shareholders of TV18 Broadcast are slated to receive 100 shares of Network18 Media for every 172 shares they currently hold in TV18 Broadcast. Similarly, shareholders of E18 will be entitled to receive 19 shares of Network18 Media for each share held in E18 under the proposed scheme.
It will enable Network18 to consolidate and further grow its business from a position of strength. This will present a unique opportunity for all shareholders to participate in the group's media business through one listed entity. The merged entity will comprise the TV portfolio of TV18 (20 news channels in 16 languages and CNBCTV18.com), digital assets of Network18 (News18.com platform across 13 languages and Firstpost), as well as website and app.
Viacom18 with its portfolio of JioCinema and 40 TV channels will be a direct subsidiary of Network18. Network18 will continue to hold its investment in BookMyShow. As consumers and advertisers increasingly gravitate towards omni-channel experiences across different aspects of their lives, having a deep and integrated presence across both TV and digital media will enable the merged entity to serve them better. Further, as the Network18 group has been working towards convergence, an integrated entity for news gathering and dissemination is expected to result in cost and content synergies.
As per the envisioned merger plan, shareholders of TV18 Broadcast are slated to receive 100 shares of Network18 Media for every 172 shares they currently hold in TV18 Broadcast. Similarly, shareholders of E18 will be entitled to receive 19 shares of Network18 Media for each share held in E18 under the proposed scheme.
It will enable Network18 to consolidate and further grow its business from a position of strength. This will present a unique opportunity for all shareholders to participate in the group's media business through one listed entity. The merged entity will comprise the TV portfolio of TV18 (20 news channels in 16 languages and CNBCTV18.com), digital assets of Network18 (News18.com platform across 13 languages and Firstpost), as well as website and app.
Viacom18 with its portfolio of JioCinema and 40 TV channels will be a direct subsidiary of Network18. Network18 will continue to hold its investment in BookMyShow. As consumers and advertisers increasingly gravitate towards omni-channel experiences across different aspects of their lives, having a deep and integrated presence across both TV and digital media will enable the merged entity to serve them better. Further, as the Network18 group has been working towards convergence, an integrated entity for news gathering and dissemination is expected to result in cost and content synergies.
