ITV

Tag: Adil Zainulbhai

  • Network 18 board approves amalgamation of subsidiaries; adjusted operating profit down in Q3-17

    Network 18 board approves amalgamation of subsidiaries; adjusted operating profit down in Q3-17

    BENGALURU: The Network 18 Media and Investments Limited (Network 18) board on the recommendations of the audit committee has given the nod for amalgamation of its wholly owned subsidiaries with itself to simplify the corporate structure, consolidate businesses, and gain synergy and scale benefits from 1 April 2016 (the beginning of the current fiscal). The amalgamation is subject to the necessary approvals.

    These subsidiaries include Television Eighteen Media and Investments Limited, Television Eighteen Media Mauritius Limited, Web18 Holdings Limited, E-18 Limited, Web18 Software Services Limited, Capital18 Fincap Private Limited, RVT Finhold Private Limited, Colosceum Media Private Limited, RRK Finhold Private Limited, RRB Investments Private Limited, Setpro18 Distribution Limited, Reed Infomedia India Private Limited, Digital18 India Media Limited and Network18 Holdings Limited.

    Network18 consolidated adjusted operating profit after adjusting the impact of new  one time initiatives in the year fell to Rs 8.5 crore in the quarter ended 31 December 2016 (Q3-17, current quarter) as compared to the consolidated operating profit of Rs 36.9 crore in the corresponding quarter of the previous year (y-o-y). The company’s consolidated revenue including proportionate share of revenues of joint ventures (JVs’) remained stable at Rs 905 crore in the current quarter as compared to Rs 903.1 in Q3-16.

    The company’s consolidated Total Income from Operations excluding revenue related to JVs’ and associates in Q3-17 declined 7.1 percent to Rs 372.81 crore from Rs 401.13 crore in Q3-16.

    Network 18’s consolidated operating loss (EBIDTA) without adjusting for one time initiatives in Q3-17 was Rs 9.02 crore as compared to a consolidated operating profit of Rs 36.76 crore (9.2 percent margin) in Q3-16. The company reported a consolidated operating loss of Rs 79.79 crore in the current quarter as compared to a consolidated profit after tax (PAT) of Rs 50.37 crore (12.6 percent margin) in Q3-16. Total consolidated comprehensible loss in Q3-17 was Rs 80.32 crore as compared to a consolidated total comprehensible profit of Rs 49.70 crore in Q3-16.

    Network 18 says that its listed subsidiary TV18 posted 1 percent  y-o-y topline growth, and its operating profits excluding impact of new initiatives and one-time expense was Rs. 52.3 crores in Q3-17 versus Rs. 49.2 crores in Q3-16.

    Network 18’s new initiatives/one-time expenses include:

    The aggregate operating loss of the new initiatives of Viacom18 (2nd Kannada 1) GEC Colors Super, OTT video destination VOOT and movie channel Rishtey Cineplex) considered in the consolidated segment results is Rs. 34.8 crores.

    2) “fyi TV18”, a lifestyle programming channel from the AETN18 stable (a JV between TV18 and A&E Network), was commercially launched on July 4, 2016. The channel incurred an operating loss of Rs. 5.2 crore during the quarter.

    3) In the news space, the three regional news channels — News18 Kerala, News18 Tamil Nadu and News18 Assam/N.E — that were launched during the first quarter of the current year stabilized during the quarter and expanded their reach. These three new channels incurred an operating loss of Rs. 9.1 crores during the quarter

    4) Hindi News channel IBN7 was re-branded and re-launched as ‘News18 India’ during the quarter for a one-time expense ofRs. 3.3 crores.

    Let us look at the other numbers reported by the company:

    Network 18’s consolidated total expenditure in the current quarter increased 6.8 percent y-o-y to Rs 405.19 crore (108.7 percent of TIO) as compared to Rs 379.38 crore (94.6 percent of TIO) in the corresponding quarter of the previous year.

    Consolidated distribution, advertising and business promotion expense in Q3-17 declined 2.5 percent to Rs 119.60 crore (32.1 percent of TIO) as compared to Rs 122.60 crore (30.6 percent of TIO) in Q3-16.

    Consolidated employee benefit expense in the current quarter increased 26.3 percent y-o-y to Rs 122.99 crore (33 percent of TIO) as compared to Rs 97.36 crore (24.3 percent of TIO).

    Consolidated other expense reduced 3.7 percent y-o-y in Q3-17 to Rs 138.23 crore (37.1 percent of TIO) from Rs 143.55 crore (35.8 percent of TIO).

    Consolidated finance cost in the current quarter increased 26.6 percent y-o-y to Rs 25.03 crore (6.7 percent of TIO) as compared to Rs 19.78 crore (4.9 percent of TIO).

    Company speak

    The major points in the company’s earning press release say:

    The group (Network 18 group) continued to invest in digital and linear media, reiterating its commitment to deliver cutting-edge news and high quality content to the demanding new-age Indian. It consolidated its position by scaling up the new regional channels launched over the last year and gave further impetus todigital content and delivery via its multiple digital destinations.

    A sharp pullback/deferment in spends by advertisers in November-December was only partially offset by good growth in the festive season (which fell entirely in October this year) and a mild revival at the fag-end of the quarter.

    Network 18 chariman Adil Zainulbhai said: “We are seeing an explosion of activity in the digital space, which adds to our confidence in our continuing impetus for multi-pronged digital growth. We have created a sizeable presence across both video and web, and intend to solidify our offerings via improved content and refreshed formats. Our growing strength in linear (especially regional) media provides a significant cross-synergy with the digital space, as vernacular content is in high-demand”.

    Appointment of Director and CFO

    The broad approved the appointment of PMS Prasad as non-executive director of the company along with with two other appointments which includes K.R Raja as non executive director and Ramesh Kumar Damani as Chief Financial Officer (CFO) of the company. The board noted the resignation of Rohit Bansal and Vinay Chhajlani from the Directorship of the company along with the Hariharan Mahadeven as CFO.

  • Network 18 board approves amalgamation of subsidiaries; adjusted operating profit down in Q3-17

    Network 18 board approves amalgamation of subsidiaries; adjusted operating profit down in Q3-17

    BENGALURU: The Network 18 Media and Investments Limited (Network 18) board on the recommendations of the audit committee has given the nod for amalgamation of its wholly owned subsidiaries with itself to simplify the corporate structure, consolidate businesses, and gain synergy and scale benefits from 1 April 2016 (the beginning of the current fiscal). The amalgamation is subject to the necessary approvals.

    These subsidiaries include Television Eighteen Media and Investments Limited, Television Eighteen Media Mauritius Limited, Web18 Holdings Limited, E-18 Limited, Web18 Software Services Limited, Capital18 Fincap Private Limited, RVT Finhold Private Limited, Colosceum Media Private Limited, RRK Finhold Private Limited, RRB Investments Private Limited, Setpro18 Distribution Limited, Reed Infomedia India Private Limited, Digital18 India Media Limited and Network18 Holdings Limited.

    Network18 consolidated adjusted operating profit after adjusting the impact of new  one time initiatives in the year fell to Rs 8.5 crore in the quarter ended 31 December 2016 (Q3-17, current quarter) as compared to the consolidated operating profit of Rs 36.9 crore in the corresponding quarter of the previous year (y-o-y). The company’s consolidated revenue including proportionate share of revenues of joint ventures (JVs’) remained stable at Rs 905 crore in the current quarter as compared to Rs 903.1 in Q3-16.

    The company’s consolidated Total Income from Operations excluding revenue related to JVs’ and associates in Q3-17 declined 7.1 percent to Rs 372.81 crore from Rs 401.13 crore in Q3-16.

    Network 18’s consolidated operating loss (EBIDTA) without adjusting for one time initiatives in Q3-17 was Rs 9.02 crore as compared to a consolidated operating profit of Rs 36.76 crore (9.2 percent margin) in Q3-16. The company reported a consolidated operating loss of Rs 79.79 crore in the current quarter as compared to a consolidated profit after tax (PAT) of Rs 50.37 crore (12.6 percent margin) in Q3-16. Total consolidated comprehensible loss in Q3-17 was Rs 80.32 crore as compared to a consolidated total comprehensible profit of Rs 49.70 crore in Q3-16.

    Network 18 says that its listed subsidiary TV18 posted 1 percent  y-o-y topline growth, and its operating profits excluding impact of new initiatives and one-time expense was Rs. 52.3 crores in Q3-17 versus Rs. 49.2 crores in Q3-16.

    Network 18’s new initiatives/one-time expenses include:

    The aggregate operating loss of the new initiatives of Viacom18 (2nd Kannada 1) GEC Colors Super, OTT video destination VOOT and movie channel Rishtey Cineplex) considered in the consolidated segment results is Rs. 34.8 crores.

    2) “fyi TV18”, a lifestyle programming channel from the AETN18 stable (a JV between TV18 and A&E Network), was commercially launched on July 4, 2016. The channel incurred an operating loss of Rs. 5.2 crore during the quarter.

    3) In the news space, the three regional news channels — News18 Kerala, News18 Tamil Nadu and News18 Assam/N.E — that were launched during the first quarter of the current year stabilized during the quarter and expanded their reach. These three new channels incurred an operating loss of Rs. 9.1 crores during the quarter

    4) Hindi News channel IBN7 was re-branded and re-launched as ‘News18 India’ during the quarter for a one-time expense ofRs. 3.3 crores.

    Let us look at the other numbers reported by the company:

    Network 18’s consolidated total expenditure in the current quarter increased 6.8 percent y-o-y to Rs 405.19 crore (108.7 percent of TIO) as compared to Rs 379.38 crore (94.6 percent of TIO) in the corresponding quarter of the previous year.

    Consolidated distribution, advertising and business promotion expense in Q3-17 declined 2.5 percent to Rs 119.60 crore (32.1 percent of TIO) as compared to Rs 122.60 crore (30.6 percent of TIO) in Q3-16.

    Consolidated employee benefit expense in the current quarter increased 26.3 percent y-o-y to Rs 122.99 crore (33 percent of TIO) as compared to Rs 97.36 crore (24.3 percent of TIO).

    Consolidated other expense reduced 3.7 percent y-o-y in Q3-17 to Rs 138.23 crore (37.1 percent of TIO) from Rs 143.55 crore (35.8 percent of TIO).

    Consolidated finance cost in the current quarter increased 26.6 percent y-o-y to Rs 25.03 crore (6.7 percent of TIO) as compared to Rs 19.78 crore (4.9 percent of TIO).

    Company speak

    The major points in the company’s earning press release say:

    The group (Network 18 group) continued to invest in digital and linear media, reiterating its commitment to deliver cutting-edge news and high quality content to the demanding new-age Indian. It consolidated its position by scaling up the new regional channels launched over the last year and gave further impetus todigital content and delivery via its multiple digital destinations.

    A sharp pullback/deferment in spends by advertisers in November-December was only partially offset by good growth in the festive season (which fell entirely in October this year) and a mild revival at the fag-end of the quarter.

    Network 18 chariman Adil Zainulbhai said: “We are seeing an explosion of activity in the digital space, which adds to our confidence in our continuing impetus for multi-pronged digital growth. We have created a sizeable presence across both video and web, and intend to solidify our offerings via improved content and refreshed formats. Our growing strength in linear (especially regional) media provides a significant cross-synergy with the digital space, as vernacular content is in high-demand”.

    Appointment of Director and CFO

    The broad approved the appointment of PMS Prasad as non-executive director of the company along with with two other appointments which includes K.R Raja as non executive director and Ramesh Kumar Damani as Chief Financial Officer (CFO) of the company. The board noted the resignation of Rohit Bansal and Vinay Chhajlani from the Directorship of the company along with the Hariharan Mahadeven as CFO.

  • TV18 Q1 2016-17: New investments lead to losses

    TV18 Q1 2016-17: New investments lead to losses

    MUMBAI: When you invest in new launches, relaunches, on talent and digital products without additional cash being pumped in, it obviously is going to hurt your bottom-line.

    That’s exactly what’s happened to TV18 Broadcast, which has reported a consolidated segment revenue (including proportionate share of joint ventures considered for segment reports) of Rs 606.7 crore in Q1 to June 2016 as compared to Rs 596.7 core in the year ago period. But it has turned out a loss of Rs 14.1 crore as against a profit of Rs 8.6 crore in the same period last year.

    Rebranding and relaunching of CNN-IBN as CNN-News18 cost the company Rs 3.5 crore. Three new news channels – News18 Kerala, News18 Tamil, News18 Assam/NE were flagged off in April 2016 and contributed Rs 13.9 crore to its operating losses. Rishtey CinePlex and over the top service Voot, which were launched in May 2016, and HD channels in Marathi, Kannada and Bangla that made a debut under Viacom18 in the quarter helped add to the aggregate operating losses to the tune of Rs 29.2 crore. Finally, factual entertainment channel FYI from the AETN18 stable launched 10 days ago reported a loss of Rs 5.4 crore which has been included in the April-June quarter.

    The company says that the segment loss before tax and before interest including performance of the joint ventures stands at Rs 19.1 crore. If one were to exclude the impact of these new initiatives , the segment profit for the business is at Rs 32.9 crore.

    TV18 has also moved to the Indian accounting standards (Ind-AS) from 1 April 2016 and it has restated its comparative results. Under this, its joint ventures Viacom18, Indiacast, and IBN Lokmat have been accounted under the equity method, the company says.

    Additionally, the company had included the financials of Prism TV Private Ltd as a subsidiary in the previous corresponding quarter but which have now been reported as a joint venture from August 2015 when it ceased to be an offshoot.

    Under Ind-AS (accounting for JVs under equity method), TV18’s consolidated revenue stands at Rs 210.7 crore in Q1 2016-2017 as against Rs 273.1 crore in the previous corresponding quarter.

    The company states that if one were to consider the operations of TV18 on a like for like basis, after factoring the change in status of Prism TV from a subsidiary to a joint venture, the growth in revenue is 18 per cent even as the operating loss is down to Rs 19 crore from Rs 22.2 crore in Q1 June 2015.

    TV18 chairman Adil Zainulbhai states in the earnings release that it is bullish about the media business – both linear and digital – and is investing heavily in it to position it for leadership. “…to be ahead of the curve…The results of these investments are starting to bear fruit and will help in healthy revenue growth and profits in the near future,” he says.

    The stock market seems to have taken the financial results and statements with a pinch of salt during trading hours. The TV18 stock shed some 13.5 per cent and closed at Rs 40.70 when trading ended.

  • TV18 Q1 2016-17: New investments lead to losses

    TV18 Q1 2016-17: New investments lead to losses

    MUMBAI: When you invest in new launches, relaunches, on talent and digital products without additional cash being pumped in, it obviously is going to hurt your bottom-line.

    That’s exactly what’s happened to TV18 Broadcast, which has reported a consolidated segment revenue (including proportionate share of joint ventures considered for segment reports) of Rs 606.7 crore in Q1 to June 2016 as compared to Rs 596.7 core in the year ago period. But it has turned out a loss of Rs 14.1 crore as against a profit of Rs 8.6 crore in the same period last year.

    Rebranding and relaunching of CNN-IBN as CNN-News18 cost the company Rs 3.5 crore. Three new news channels – News18 Kerala, News18 Tamil, News18 Assam/NE were flagged off in April 2016 and contributed Rs 13.9 crore to its operating losses. Rishtey CinePlex and over the top service Voot, which were launched in May 2016, and HD channels in Marathi, Kannada and Bangla that made a debut under Viacom18 in the quarter helped add to the aggregate operating losses to the tune of Rs 29.2 crore. Finally, factual entertainment channel FYI from the AETN18 stable launched 10 days ago reported a loss of Rs 5.4 crore which has been included in the April-June quarter.

    The company says that the segment loss before tax and before interest including performance of the joint ventures stands at Rs 19.1 crore. If one were to exclude the impact of these new initiatives , the segment profit for the business is at Rs 32.9 crore.

    TV18 has also moved to the Indian accounting standards (Ind-AS) from 1 April 2016 and it has restated its comparative results. Under this, its joint ventures Viacom18, Indiacast, and IBN Lokmat have been accounted under the equity method, the company says.

    Additionally, the company had included the financials of Prism TV Private Ltd as a subsidiary in the previous corresponding quarter but which have now been reported as a joint venture from August 2015 when it ceased to be an offshoot.

    Under Ind-AS (accounting for JVs under equity method), TV18’s consolidated revenue stands at Rs 210.7 crore in Q1 2016-2017 as against Rs 273.1 crore in the previous corresponding quarter.

    The company states that if one were to consider the operations of TV18 on a like for like basis, after factoring the change in status of Prism TV from a subsidiary to a joint venture, the growth in revenue is 18 per cent even as the operating loss is down to Rs 19 crore from Rs 22.2 crore in Q1 June 2015.

    TV18 chairman Adil Zainulbhai states in the earnings release that it is bullish about the media business – both linear and digital – and is investing heavily in it to position it for leadership. “…to be ahead of the curve…The results of these investments are starting to bear fruit and will help in healthy revenue growth and profits in the near future,” he says.

    The stock market seems to have taken the financial results and statements with a pinch of salt during trading hours. The TV18 stock shed some 13.5 per cent and closed at Rs 40.70 when trading ended.

  • APOS 2016: Reliance Industries’ Adil Zainulbhai & the Jio launch

    APOS 2016: Reliance Industries’ Adil Zainulbhai & the Jio launch

    BALI: For all those who have been speculating about the commercial launch dates of Reliance Industries Jio services – whether wireless broadband and 4G or wired broadband – in India, here’s  the final word from the Network 18 Media & Investments chairman and Reliance Industries independent director Adil Zainulbhai.

    Speaking at APOS2016 in Bali, Zainulbhai admitted even he does not know it. “There is probably one person who knows when the launch date is: that is the chairman. And the chairman of the board will decide one day when it will launch and I don’t think even he knows today what that date is. He will let us know when that is to happen.”

    Zainulbhai stated that Jio was very close to being ready in terms of infrastructure for broadband wireless. He pointed out that the company was currently looking at what all was required from the marketing and processes perspectives.

    He revealed that close to 250,000 km fibre has been laid for wired broadband. These services will follow only after the launch of wireless broadband.

    “In the next 18-24 months, a large proportion of the high net worth homes in India will have the potential to have a fibre connection. And then they will have to choose when they want it or not,” he expounded. “Today an average data user on wireless broadband uses 0.18 GB a month. We have 500,000 users on our network testing it –they are using on an average 20GB. This is going to be a disruption. We don’t know how things will roll out when you give people an opportunity to consume as much as they want for a very reasonable price.”

    Zainulbhai stated the Reliance group has never looked at any project business case wise. “The thought has always been how can we disrupt the existing scenario, improve lives of people and  in the process make money,” he disclosed.  “Right from the founder Dhirubhai Ambani’s time. And this has worked well for it with every project paying off.”

    He directed the attendees attention to benefits like health and education which will be the other services the group will provide under Jio. “There’s a shortage of doctors and teachers in India. We want to help plug that gap through our broadband digital infrastructure. Entertainment services will pay for the laying of the fibre. The biggest change will happen in other fields.”

  • APOS 2016: Reliance Industries’ Adil Zainulbhai & the Jio launch

    APOS 2016: Reliance Industries’ Adil Zainulbhai & the Jio launch

    BALI: For all those who have been speculating about the commercial launch dates of Reliance Industries Jio services – whether wireless broadband and 4G or wired broadband – in India, here’s  the final word from the Network 18 Media & Investments chairman and Reliance Industries independent director Adil Zainulbhai.

    Speaking at APOS2016 in Bali, Zainulbhai admitted even he does not know it. “There is probably one person who knows when the launch date is: that is the chairman. And the chairman of the board will decide one day when it will launch and I don’t think even he knows today what that date is. He will let us know when that is to happen.”

    Zainulbhai stated that Jio was very close to being ready in terms of infrastructure for broadband wireless. He pointed out that the company was currently looking at what all was required from the marketing and processes perspectives.

    He revealed that close to 250,000 km fibre has been laid for wired broadband. These services will follow only after the launch of wireless broadband.

    “In the next 18-24 months, a large proportion of the high net worth homes in India will have the potential to have a fibre connection. And then they will have to choose when they want it or not,” he expounded. “Today an average data user on wireless broadband uses 0.18 GB a month. We have 500,000 users on our network testing it –they are using on an average 20GB. This is going to be a disruption. We don’t know how things will roll out when you give people an opportunity to consume as much as they want for a very reasonable price.”

    Zainulbhai stated the Reliance group has never looked at any project business case wise. “The thought has always been how can we disrupt the existing scenario, improve lives of people and  in the process make money,” he disclosed.  “Right from the founder Dhirubhai Ambani’s time. And this has worked well for it with every project paying off.”

    He directed the attendees attention to benefits like health and education which will be the other services the group will provide under Jio. “There’s a shortage of doctors and teachers in India. We want to help plug that gap through our broadband digital infrastructure. Entertainment services will pay for the laying of the fibre. The biggest change will happen in other fields.”

  • Network18 unveiled CNN-News18 outlook at 8 pm

    Network18 unveiled CNN-News18 outlook at 8 pm

    MUMBAI: Setting a new benchmark in television news, Network18 has announced the re-branding of its English general news channel CNN-IBN to CNN-News18.  The channel has unveiled a new name and logo, its revamped studio and a new look and feel to the news screen tonight at 8 pm. Refreshing the approach to news telling, CNN-News18 will make news more relevant to its viewers by bringing immersive journalism to the forefront. IBNLive.com, the digital destination of the channel, is also changing to News18.com.

    Speaking on the occasion, Network18 chairman Adil Zainulbhai said, “A decade back, CNN-IBN re-invented news by getting to its viewers the benefits of a reputed international news partner CNN, and eventually emerging as the most awarded English general news channel.  We are now at a time when breaking news role is taken by social media and there is an oversupply of news sources because of which just breaking news isn’t enough. In this problem of plenty, quality suffers and consumers don’t know what to believe or trust in. Also the insights into an issue keep getting compromised for lack of time and resources. Realizing this gap, we have decided to take the onus of breaking this clutter by focusing on quality of reporting, in-depth analysis and an all-round view of key issues. We are optimistic about bringing this change wherein we will keep the journalist and the consumer at the centre of our programming, which is the critical need of the hour.”

    Speaking about the re-branding and revamped content, IBN News Network CEO Avinash Kaul, said, “The refreshed identity of CNN-News18 aims to bring the value of immersive journalism to its viewers. Inspired by our new tagline – ‘On Your Side’, CNN-News18 will strive to make news more objective keeping the viewers at the centre of its content strategy. We will significantly ramp-up our digital presence to ensure that viewers are seamlessly able to interact and engage with our content.”

    CNN-News18 is bringing to viewers new formats of programming and a panel of the country’s top commentators including Vir Sanghvi, Swapan Dasgupta, Ayaz Memon and Ajoy Bose. Prime Time 2.0, from 8 pm to 11 pm, will bring together an unmatched blend of on-ground reporting, opinions, debates and even a daily dose of humour. The weekend will see several new shows including Virtuosity – an exclusive show on the week’s key issues with Vir Sanghvi.

    “CNN-News18’s programming will focus on leveraging our strength in reporting to offer in-depth on-ground coverage by deploying even more resources in news gathering and bring out multiple angles to each story. We will raise the quality of debates and in-studio discussions by engaging the nation’s foremost journalists & opinion makers. The channel will bring freshness to news television by developing new on-air talent and exploring diverse genres of programming. CNN-News18 will not just offer the latest national news, but also an Indian perspective to international developments. Our partnership with CNN will enable us to bring to you the best of CNN reporters, anchors and their best known shows. It will allow us to align our editorial strengths and upgrade workflows through exchange of best practices, technology and training  to offer our viewers the best experience of news consumption in India” added Avinash Kaul.

  • Network18 unveiled CNN-News18 outlook at 8 pm

    Network18 unveiled CNN-News18 outlook at 8 pm

    MUMBAI: Setting a new benchmark in television news, Network18 has announced the re-branding of its English general news channel CNN-IBN to CNN-News18.  The channel has unveiled a new name and logo, its revamped studio and a new look and feel to the news screen tonight at 8 pm. Refreshing the approach to news telling, CNN-News18 will make news more relevant to its viewers by bringing immersive journalism to the forefront. IBNLive.com, the digital destination of the channel, is also changing to News18.com.

    Speaking on the occasion, Network18 chairman Adil Zainulbhai said, “A decade back, CNN-IBN re-invented news by getting to its viewers the benefits of a reputed international news partner CNN, and eventually emerging as the most awarded English general news channel.  We are now at a time when breaking news role is taken by social media and there is an oversupply of news sources because of which just breaking news isn’t enough. In this problem of plenty, quality suffers and consumers don’t know what to believe or trust in. Also the insights into an issue keep getting compromised for lack of time and resources. Realizing this gap, we have decided to take the onus of breaking this clutter by focusing on quality of reporting, in-depth analysis and an all-round view of key issues. We are optimistic about bringing this change wherein we will keep the journalist and the consumer at the centre of our programming, which is the critical need of the hour.”

    Speaking about the re-branding and revamped content, IBN News Network CEO Avinash Kaul, said, “The refreshed identity of CNN-News18 aims to bring the value of immersive journalism to its viewers. Inspired by our new tagline – ‘On Your Side’, CNN-News18 will strive to make news more objective keeping the viewers at the centre of its content strategy. We will significantly ramp-up our digital presence to ensure that viewers are seamlessly able to interact and engage with our content.”

    CNN-News18 is bringing to viewers new formats of programming and a panel of the country’s top commentators including Vir Sanghvi, Swapan Dasgupta, Ayaz Memon and Ajoy Bose. Prime Time 2.0, from 8 pm to 11 pm, will bring together an unmatched blend of on-ground reporting, opinions, debates and even a daily dose of humour. The weekend will see several new shows including Virtuosity – an exclusive show on the week’s key issues with Vir Sanghvi.

    “CNN-News18’s programming will focus on leveraging our strength in reporting to offer in-depth on-ground coverage by deploying even more resources in news gathering and bring out multiple angles to each story. We will raise the quality of debates and in-studio discussions by engaging the nation’s foremost journalists & opinion makers. The channel will bring freshness to news television by developing new on-air talent and exploring diverse genres of programming. CNN-News18 will not just offer the latest national news, but also an Indian perspective to international developments. Our partnership with CNN will enable us to bring to you the best of CNN reporters, anchors and their best known shows. It will allow us to align our editorial strengths and upgrade workflows through exchange of best practices, technology and training  to offer our viewers the best experience of news consumption in India” added Avinash Kaul.

  • Network18 ropes in ex Flipkart exec Manish Maheshawari as CEO of Web18

    Network18 ropes in ex Flipkart exec Manish Maheshawari as CEO of Web18

    MUMBAI: The Network18 Group has roped in Manish Maheshawari as the new CEO of Web18. Maheshawari was previously with Indian eCommerce major Flipkart as VP and head of its seller ecosystem. Maheshawari will lead Network18’s digital and e-commerce assets which includes digital portals such as moneycontrol.com, ibnlive.com, in.com, firstpost.com, etc.

    As the CEO of Web18, Maheshawari’s immediate priorities will be  to drive content, monetization, new business, inorganic growth, and product portfolio management.

    Talking about the new appointment, Network18 group chairman Adil Zainulbhai said, “Manish brings with him a good mix of Silicon Valley tech product culture and an understanding of ground realities of India. Both these qualities will be crucial as we take Network18 to the next level of digital transformation. He has a proven track record of taking up projects and achieving a scale of tens of millions, building cross-functional teams that deliver in large setting with an unflinching focus on customer experience.”

    Maheshawari can be credited with growing Flipkart’s marketplace by 10x — from 10,000 sellers in February 2015 to over 100,000 sellers in February 2016.  Prior to that, he co-founded txtWeb and grew it from scratch with over 16 million mobile users in India alone.

     

  • Network18 ropes in ex Flipkart exec Manish Maheshawari as CEO of Web18

    Network18 ropes in ex Flipkart exec Manish Maheshawari as CEO of Web18

    MUMBAI: The Network18 Group has roped in Manish Maheshawari as the new CEO of Web18. Maheshawari was previously with Indian eCommerce major Flipkart as VP and head of its seller ecosystem. Maheshawari will lead Network18’s digital and e-commerce assets which includes digital portals such as moneycontrol.com, ibnlive.com, in.com, firstpost.com, etc.

    As the CEO of Web18, Maheshawari’s immediate priorities will be  to drive content, monetization, new business, inorganic growth, and product portfolio management.

    Talking about the new appointment, Network18 group chairman Adil Zainulbhai said, “Manish brings with him a good mix of Silicon Valley tech product culture and an understanding of ground realities of India. Both these qualities will be crucial as we take Network18 to the next level of digital transformation. He has a proven track record of taking up projects and achieving a scale of tens of millions, building cross-functional teams that deliver in large setting with an unflinching focus on customer experience.”

    Maheshawari can be credited with growing Flipkart’s marketplace by 10x — from 10,000 sellers in February 2015 to over 100,000 sellers in February 2016.  Prior to that, he co-founded txtWeb and grew it from scratch with over 16 million mobile users in India alone.