TV18 and E18 announce merger with Network 18; to consolidate TV and digital news assets

7 Dec 2023 , 10:29 AM

Network18 Media & Investments Ltd (Network18) and TV18 Broadcast Limited (TV18) announced a plan of arrangement on December 6 in which TV18 and e-Eighteen.com Limited (E18), which owns and manages the moneycontrol website and app, will merge.

The proposed strategy proposes to merge the Network18 group's TV and digital news sectors into a single business, creating India's largest platform-agnostic news media institution. With a strong presence in both the TV and digital domains across many languages, the combination will allow Network18 to consolidate and develop its company from a strong position.

According to Network18's announcement, shareholders will have a one-of-a-kind opportunity to participate in the group's media business through a single listed organization.

The amalgamated firm will include TV18's TV portfolio (20 news channels in 16 languages and CNBCTV18.com), Network18's digital assets (News18.com platform in 13 languages and Firstpost), and the moneycontrol website and app. Viacom18, which owns JioCinema and 40 TV stations, would become a direct subsidiary of Network18. Network18 will maintain its stake in BookMyShow.

As consumers and marketers increasingly want omnichannel experiences in all parts of their lives, having a strong and integrated presence across both TV and digital media would allow the merged business to better serve them. Furthermore, as the Network18 group works towards convergence, a unified organization for news collecting and distribution is projected to result in cost and content synergies.

At around 10.24 AM, Network 18 was trading 7.52% lower at Rs 91.05, against the previous close of Rs 98.45 on NSE. The counter slipped to an intraday low of Rs 88.30, so far.

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