Television Eighteen India Ltd Merged Company Summary

Television Eighteen India Ltd Merged Summary

Television Eighteen India Ltd is Indias No 1 News and Information Network and the premier provider of business content in the country. The company is engaged in content production and broadcasting. They operate Indias leading business medium CNBC-TV18 & Indias first consumer focused business channel CNBC AWAAZ. Their subsidiaries include Television Eighteen Mauritius Ltd, iNews.com Ltd, News Wire 18 India Pvt Ltd, RVT Investments Pvt Ltd, Television Eighteen Media and Investment Ltd, Mauritius and MobileNXT Online Pvt Ltd.Television Eighteen India Ltd was incorporated on September 24, 1993 as a private limited company and in November 2, 1994, the company became a public limited company. The company became famous in their first year with the launch of Indias first ever show on satellite television, namely The India Show on Star Plus in the year 1993. They also produced a weekly business news programme, namely India Business Report for BBC World. In the year 1994, the company launched Indias first street countdown show in Hinglish.In the year 1996, the company set up a wholly owned subsidiary in Mauritius, namely Television Eighteen Mauritius Ltd. Also, the company through Television Eighteen Mauritius Ltd entered into a joint venture and launched Asia Business News India, the 24-hour hour business news and information channel.In December 1999, the company came out wit a public issue of 29,36,000 equity shares o Rs 10 each at a premium of Rs 170 per share. In March 2000, they incorporated e-18.com Pvt Ltd for setting up of business and finance internet portal. The subsidiary acquired Moneycontrol Dot Com Private Ltd, the company owning the highly successful financial portal, Money control.com in May 2000. In August 28, 2000, they incorporated iNews.com Ltd as a subsidiary company.During the year 2001-02, the company hived off their entertainment part of the business to their 100% subsidiary, Eighteen Entertainment India Ltd. In April 2002, they terminated their ad sales representation relationship with Sony Entertainment Television and set up a dedicated in-house marketing and sales team for the channel. In April 2003, they appointed Zee Turner as the cable distribution partner for CNBC-TV18 service.During the year 2004-05, the company forayed into General News Space. In October 2004, the company acquired the running business of an established commodities portal, namely Agri Informatics India Pvt Ltd and in May 2005, the name was changed to Television Eighteen Commoditiescontrol.Com Ltd.During the year 2005-06, the company launched a subscription based investment advisory portal called poweryourtrade.com. Also, the company in joint venture with Norwest Venture Partners launched a e-recruitment provider, namely jobstreet.com. In December 2005, they launched a General English News Channel called CNN-IBN, which became the number one English news channel in India. In April 2006, the company acquired 50% stake in Channel 7, a general news channel in Hindi. In November 2006, they acquired Crisil MarketWire, a realtime financial newswire, from Crisil Ltd, Indias leading credit rating agency. The company was renamed as Newswire18 and operates their own real-time market data and news terminal.During the year 2007-08, the company entered into a joint venture agreement with Jagran Prakashan to launch a Hindi Business daily for the Indian market and subsequently will be followed by other Indian language dailies focused on financial and economic news. They acquired 40% interest in Infomedia India Ltd during the year. In July 2007, e-18, a subsidiary company acquired 35% in Ambit Capital Pvt Ltd.During the year 2008-09, the company sold their investment in Mobilenet Teleservices Pvt Ltd & Mobilenet Online Pvt Ltd.