e-Eighteen.com (E18), a 91.89% unlisted subsidiary of Network18, inter alia owns and operates the well-known platform moneycontrol.com website and app. Its turnover was Rs 205.15 crore for FY23.
TV18 Broadcast (TV18), a 51.17% subsidiary of Network18, is inter alia engaged in the media business and it broadcasts general news channels and business news channels through its subsidiary, Viacom18 Media Private. It also operates the well-known JioCinema platform. Its turnover was Rs 1,467.75 crore for financial year 2022-2023.
The merged entity will comprise of 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 also moneycontrol 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.
Shareholders of TV18 Broadcast will get 100 shares of Network18 for every 172 shares held by TV18 and shareholders of E18 will get 19 shares of Network 18 for every 1 share held by E18.
The appointed date for the merger is set as 1 April 2023. Post amalgamation, promoter and promoter group shareholding will be 56.89% from 75%.
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.
Network18 Media & Investments (Network18 Group) is a diversified media and entertainment (M&E) conglomerates, with interests across television, digital content, filmed entertainment, e-commerce, print and allied businesses. TV18 Broadcast, a subsidiary of Network18, manages its primary business of broadcasting. It runs the largest news network in India, spanning business news general news, and regional news.
TV18 Broadcast, a subsidiary of Network18 manages its primary business of broadcasting. TV18 runs the largest news network in India, spanning business news, general news and regional news channels.
Shares of Network18 Media & Investments declined 8.47% to Rs 90.25 and TV18 Broadcast fell 7.40% to Rs 52.07 on the BSE.