MUMBAI: Network18 Media & Investments has moved swiftly to acquire complete control of IBN Lokmat News Pvt Ltd, snapping up 86.25 million equity shares and preference holdings from its long-time partner Lokmat Media Pvt Ltd for Rs 25 crores. Come late October, IBNL will be Network18’s wholly owned subsidiary.
The transaction marks a decisive shift in the broadcaster’s strategy towards the Marathi news market, where News18 Lokmat reigns as the segment leader. IBNL, which Network18 and the Lokmat Group established as a joint venture in 2007, has been quietly expanding. Its revenues jumped from Rs 22.5 crore in FY2022-23 to Rs 31.1 crore the following year, then surged again to Rs 36.5 crore by FY2024-25—a clear signal that the channel is hitting its stride.
The deal is a related party transaction structured at arm’s length, with independent valuations from Ernst & Young Merchant Banking Services signing off. Network18’s promoters and group companies have no stake in the arrangement. Regulators have given the green light; no government approval is required. The acquisition should close before month’s end, cementing Network18’s dominance in regional news.