The proposed scheme will consolidate TV and digital news businesses of the Network18 group in one company. “It 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,” the company said in an exchanges filing.
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.
