ITV

Tag: Reliance Industries

  • Rakesh Khar joins Network 18 as operations GM

    Rakesh Khar joins Network 18 as operations GM

    MUMBAI: Network 18 has roped in a senior hand to head its operations. Rakesh Khar has recently joined the company as its general manger operations. This is his second stint with the company.

     

    Khar has a rich experience across several news channels over a period of nearly three decades. He has worked as  Zee Media consulting editor and as editor of Zee Research Group, Financial Chronicle as senior editor, Sahara Samay as strategic planning head and network business editor, Zee News executive editor, TV18 assistant editor, The Economic Times corporate editor and the Kashmir Times staff correspondent.

     

    Based out of Delhi, Khar has experience ranging from conceptualisation, execution, operations and strategy. He has built several editorial teams in print and TV news organisations.

     

    In the past couple of months, the network has seen several changes, after its acquisition by Reliance Industries led Mukesh Ambani. 

  • Raghav Bahl to experiment with personalised news on hand held devices

    Raghav Bahl to experiment with personalised news on hand held devices

    MUMBAI: The media industry had received a jolt when veteran and founder of one of the largest and most successful media companies in India, Raghav Bahl announced that petrochemical giant Reliance Industries would be taking over Network 18.

     

    Bahl who is now the non executive director on the board of Network 18 decided to sell off his business after building it with an investment of only Rs 50,000. However, Bahl who is now in his 50s told Mint that ‘50s is the new 30s’. Indeed, his two decade long journey with News is set to continue even now.

     

    While the world moves to digital, he won’t be far behind. Bahl has made public his intention to venture into the digital space with news. Although he hasn’t officially announced his exact venture, his tweets give some clue.

     

    “It shall be a venture in the exciting new world of hand held digital content,” he tweeted in reply to someone’s query. This new venture will also be in the field of his most beloved News genre.

     

    Currently, Bahl and his wife Ritu Kapur are touring the US for ‘digital news discovery through Big Apply and Silicon Valley’ as his tweet says.

     

    ‘Eight weeks after Network 18, I have met more exciting, creative, ambitious digital savvy young professionals than over all of last decade! Eight weeks of start-up nitty gritty, hunting offices and fresh talent, learning digital products – like early 90s TV18!’ he tweets enthusiastically from the US.

     

    ‘The printing press of the 21st century is the publishing algorithm of a mobile news app! Lessons from America,’ he tweeted.

     

    It seems like Bahl is out to create the next Twitter-like news channel to provide personalised news on phones and tabs.

     

  • Sagarika Ghose to join Times of India as consulting editor

    Sagarika Ghose to join Times of India as consulting editor

    MUMBAI: A month after she submitted her official resignation at CNN-IBN, the former deputy editor of the channel Sagarika Ghose is all set to enter the field of print journalism. Ghose will soon join Times of India as its new consulting editor.

     

    Highly placed sources from the publication have confirmed the news that she will be joining later this month. She had started her career with Times of India in 1991. Since then she has worked at several publications including Outlook and The Indian Express before moving on to CNN-IBN along with husband and IBN18 editor in chief Rajdeep Sardesai.

     

    Ghose had also received offers from the India Today group but it seems like she has decided to go with the leading daily of the country.

     

    In the message that she sent out just after her resignation, Ghose had said that she was leaving to try her hand at something  “a little more challenging and creative, explore new vistas in reportage and commentary after almost a quarter of a century in journalism, among them 9 fabulous years at CNN-IBN.”

     

    Both Ghose and Sardesai had gone on a month long leave just after Reliance Industries’ acquired Network 18 in late May and within a span of a few days, both of them resigned from the company.

  • Reliance Industries reports 14 per cent higher YoY PAT for Q1-2015

    Reliance Industries reports 14 per cent higher YoY PAT for Q1-2015

    BENGALURU: Reliance Industries Limited (RIL) reported 7.2 per cent growth in consolidated operating revenue in Q1-2015 to reach Rs 107905 crore on a y-o-y basis. The company’s y-o-y PAT jumped 13.7 per cent in Q1-2015 to Rs 5957 crore.

     

    Two of the smallest contributors to RIL revenue – organised retail and others – which include its mobile, 4G services, internet, tower and television segments are covered in this report. The company’s other segment has reported 1.8 per cent lower revenue in Q1-2015 at Rs 1772 crore as compared to the Rs 1804 crore in Q4-2014 and slightly lower than the Rs 1775 crore in Q1-2014. The performance details of this segment have not been indicated by the company.

     

    The Reliance organised retail juggernaut continues to roll on, going from strength to strength. A few years ago the Indian behemoth had announced its foray into the then estimated Rs 3 lakh crore size Indian retail market with planned investments of Rs 25,000 crore.

     

    This quarter Q1-2015, RIL reported revenue from its organised retail segment at Rs 3999 crore which was 14.5 per cent higher than the Rs 3492 crore in the year ago quarter and 9.5 per cent higher than the Rs 3653 crore in the immediate trailing quarter Q4-2014. And the segment has reported operating profit (EBIDTA) in Q1-2015 at Rs 81 crore which is more than three times (3.38 times) the Rs 24 crore in the last quarter, as opposed to a loss of Rs 0.4 crore in Q1-2014.

     

    Here is what a part of the company’s press release has to say:

     

    In May 2014, the board of Reliance Industries Limited approved funding of up to Rs 4,000 crore to Independent Media Trust (“IMT”), of which RIL is the sole beneficiary, for acquisition of control in Network 18 Media & Investments Limited (“NW18”) including its subsidiary TV18 Broadcast Limited (“TV18”). In July 2014, RIL has completed the acquisition of control of Network 18 Media and Investments Limited (“NVV18”) including its subsidiary TV18 Broadcast Limited (“TV18”).

     

    In June 2014, Reliance Jio Infocomm Ltd. (“RJIL”) has signed a telecom tower sharing agreement with Ascend Telecom Infrastructure. Under the agreement, RJIL will utilise the pan-India tower infrastructure of Ascend to launch its 4G services, ensuring a faster and more efficient rollout to its customers.

     

    In May 2014, RJIL and Tower Vision India, an independent tower company in India, have entered into a Master Service Agreement for tower sharing. Under the agreement, Reliance Jio would utilise the telecom tower infrastructure of Tower Vision to launch its services across the country.

     

    In April 2014, RJlL and Reliance Communications Ltd.(“ RCOM”) have announced the signing of a Master Services Agreement for sharing of RCOlVl’s extensive intra-city optic fiber infrastructure. Under the terms of the agreement, RJIL will utilise RCOM’s nationwide intra-city fiber network for accelerated roll-out of its state-of­ the-art 4G services across the country. In addition, in April 2014, RJIL and ATC India, one of the leading independent tower companies in India, signed a tower sharing agreement. Under the agreement, Reliance Jio would utilise the telecom tower infrastructure of ATC India to launch its services across the country.

  • Raghav Bahl to continue as non exec director at Network18 group

    Raghav Bahl to continue as non exec director at Network18 group

    MUMBAI: After Reliance Industries acquired Network18, a slew of resignations followed. And amongst those was also the network’s founder and promoter Raghav Bahl. While there were questions on what was next, the much awaited announcement is finally out. Though Bahl ends his term as promoter from today, 7 July, he will continue to be the non executive director on TV18’s board.  He has also resigned as managing director of Network18, though he will continue as its non-executive director.

     

    This apart, the old promoters including Bahl, Ritu Kapur, Vandana Malik and Subhash Bahl, along with their affiliates have been replaced by Independent Media Trust (IMT), Network18 Media and Investments, Reliance Industries, RB Mediasoft, RB Media Holdings, RRB Mediasoft, Colorful Media, Adventure Marketing, Watermark Infratech and RB Holdings. The company announced this after a board meeting held this morning. And all of them have resigned from the board as well, along with the  co-founder and executive director of TV 18 Sanjay Ray Chaudhuri.

     

    In another announcement that followed, Reliance Industries revealed that Independent Media Trust (IMT) of which RIL is the sole beneficiary, has completed the acquisition of Network18 Media and Investments (NW18) including its subsidiary TV18 Broadcast (TV18).  With the completion of this transaction, IMT and RIL have become promoters of NW18 and TV18. The open offers to the public shareholders for acquisition of equity shares of NW18, TV18 and Infomedia Press as announced on 29 May by JMT are in process and the draft letter of offer has been filed with SEBI for its comments.

     

    The company also stated in a notice to the Bombay stock exchange that the Network18 board has been reconsituted with the appointment of veteran journalist  Rohit Bansal and founder and group chairman of Webduniya Vinay Chhajlani as non-executive directors, and  HDFC chairman  Deepak S Parekh and Adil Zainulbhai as independent directors, following the resignation of the promoter directors.

     

  • Finally, Rajdeep Sardesai says sayonara to IBN18

    Finally, Rajdeep Sardesai says sayonara to IBN18

    MUMBAI: First it was the better half of the power news couple – Sagarika Ghose-Rajdeep  Sardesai –  that announced through twitter last night that she was departing from CNN-IBN. Now Rajdeep Sardesai too has said his last sayonara to a news network he helped build from scratch. In a mail he sent out to his team today, he  announced his departure, expressing that it was one of the toughest letters to write.

     

    The reason for his departure he states in the message is that  editorial independence and integrity have been articles of faith in 26 years in journalism and may be “ I am too old  now to change.”

     

    Said he in the message: “ I must confess it’s not easy to leave a baby that one has helped create/build/grow and to leave such great colleagues. But I guess certain things in life are written in the stars. Editorial independence and integrity have been articles of faith in 26 years in journalism and maybe I am too old now to change!”

     

    He added in the message that the success of the channels – CNN-IBN, IBN7 and IBN Lokmat – was possible because of the freedom given to the journalists by the leadership at Network18.

     

    And he closed his message by saying: “Forget the cynics, journalism my friends is a great profession. Good journalism makes a genuine difference to the world by offering a mirror to society. Yes, putting news above noise, sense above sensation and credibility above chaos must remain a credo forever: else journalism will lose its moral compass. I hope the new management will always put journalism first and I wish them well.”

     

    Rajdeep’s departure comes two days before the new Network18 management is slated to be announced. 

  • Sagarika Ghose tweets goodbye to CNN-IBN

    Sagarika Ghose tweets goodbye to CNN-IBN

    MUMBAI: Like so many others before her, she took to Twitter to announce her departure from the network she has been associated with for so long. CNN-IBN deputy editor Sagarika Ghose tweeted late on the night of 3 July: “Goodbye CNN-IBN. God bless!”

     

    Sagarika had gone on leave with her husband  IBN18 editor in chief Rajdeep Sardesai  last month and expectations were that she would return if one went by the email he had sent out to his team about their departure. 

     

    Speculation, however, was that she would not return to the channel – part of the Network18 group, now owned by Mukesh Ambani’s Reliance Industries – and would probably hop over to the Aroon Purie and TV Today Network owned English news channel Headlines Today.

     

    She also sent out a message to her colleagues at CNN-IBN in which she stated that she was leaving to try her hand at something “a little more challenging and creative, explore new vistas in reportage and commentary after almost a quarter of a century in journalism, among them 9 fabulous years at CNN-IBN.”
     
     
    She added in the message: “CNNIBN has not only been an integral part of my life for almost every waking minute these past years, but more important, working with you has been a joy and an honour. At CNNIBN, an incredible team of professionals brought total commitment and integrity to reporting the news. We put journalism first and because of that we became a trusted and much loved brand.
     
     
    “A free fearless press is the infrastructure of democracy–without it the term “citizenship” is diminished indeed. CNNIBN was always free and responsible! That’s why it became such an incredible success, so beloved of viewers. We created magic and that magic touched millions of lives, and the magic will remain with each of us always! The words of John Tusa, the venerable former director general of BBC World Service come to me: “Journalists cannot become the outriders of authority…but the freedom we have is the freedom to be responsible,” continued Sagarika in the message.
     
     
    She ended it with: “Good bye is an unhappy word. I prefer au revoir..until we meet again.”

     

    It is not known whether Rajdeep too will be following in the footsteps of his wife and announcing his departure from the news network, but once again speculation is that it is only a matter of time. Apparently, he has an offer to pen a book from Penguin.

     

     

    Sagarika is the daughter of former DD director general Bhaskar Ghose, who strove to change the face of the pubcaster.

     

    Meanwhile, even as she posted her farewell on Twitter and in a message, her husband announced on Twitter that he is  “reading Dilip Kumar bio and listening to SJ/Mukesh/Shailendra classic: yeh mera deewanapan hai.. Bliss! Gnight, shubhratri.”

  • Nita Ambani Joins RIL Board as Director

    Nita Ambani Joins RIL Board as Director

    MUMBAI: The shareholders of Reliance Industries Limited (RIL) have approved the appointment of Nita M. Ambani who is the chairperson of Reliance Foundation (RF), as director on the board of Reliance Industries at an AGM held on 18 July 2014.

     

    On behalf of the board, RIL chairman Mukesh Ambani welcomed his spouse and said, “Nita has been engaged in several initiatives that have strengthened Reliance, right from building the world-class township and the ecological development at Jamnagar, next­ generation office campuses, designing customer touch paints of Reliance Retail, healthcare initiatives, successfully setting up and running institutions such as Dhirubhai Ambani International School and Mumbai Indians to, most importantly, managing Reliance Foundation. We are delighted to welcome her to the Board of Reliance Industries as an accomplished individual who will add significant value to Reliance’s journey of growth.”

     

    While accepting her new role with a sense of humility and responsibility she said, “RIL has always aimed to better millions of lives and my mission will be to bring speed, scale and social contract to RIL.’s larger mission. I accept this responsibility as a tribute to millions of RIL stakeholders, as well as to my tireless colleagues at Reliance foundation.”

     

    Nita Ambani, the wife of India’s richest man was at the forefront of the ecological development of RlL’s Jamnagar refinery site where a biodiversity plan covering 3.2 million trees over 2000 acres was implemented.

     

    She developed the world-class township in Jamnagar from scratch, setting new standards in quality of life. Nita has also led initiatives spanning education, health, rural transformation, environmental protection and sports over the past two decades. She has also built institutions in fields such as education, sports and healthcare in India, through Reliance Foundation and Mumbai Indians from scratch. She also leads 13 schools in the Reliance fold, including 1 international school- Dhirubhai Ambani International School- which is a testament to her commitment to excellence in education. These schools are striving to provide quality education to more than 15,000 students.

     

    With RIL acquiring Network 18 and now announcing Nita as one of the directors in the board, it will be interesting to see the developments shaping up in the company.

  • Reliance Jio to see phase-wise launch in 2015

    Reliance Jio to see phase-wise launch in 2015

    MUMBAI: The annual general meeting (AGM) of Reliance Industries was much awaited. With the talk around the company only growing in the past few weeks after it acquired Network18, eyes were fixed on the probable outcome of this meeting. The 40th AGM which was held today, saw RIL chairman Mukesh Ambani highlighting the future of the much awaited 4G broadband network in the country under the brand of  Reliance Jio.

     

    “I had shared the vision of this initiative, Jio- of a digital India- last year and of the unique opportunity that we have to maximise the benefits of the digital age. Digital services will help contribute significantly to the Indian economy and help improve lives of our 1.25 billion countrymen,” he said while addressing shareholders at the AGM.

     

    He also informed the shareholders that limited set of trials for Jio are already underway and the expanded trials would begin from August 2014 which would continue through 2014 and early 2015. “The year 2015 will see the phased launch of Reliance Jio across India. Millions of customers would have started to use the digital platform and services in their daily lives. The fruits of the tremendous value created by this (Jio) Rs 70,000 crore initiative would start to flow,” he stated.

     

    The broadband service will cover all states at launch accounting for 90 per cent urban India and 215,000 villages. Eventually it will cover over 600,000 villages. “They would ensure that every Indian has access to the state-of-the-art digital connectivity and services that are on par with or better than anywhere else in the world,” said Ambani proudly. 

     

    Assuring the shareholders about its future, Ambani emphasised, “Reliance Jio will be one of the largest job-creating and wealth-creating business initiatives in India.” Currently 10,000 full time employees are working on Jio along with 30,000 professionals from Reliance’s partners and vendors across the world. This apart, he said that 100,000 people are working across India in creating the digital infrastructure backbone for the network. “Millions of new entrepreneurs and jobs can be expected to spring up in the tertiary and secondary sectors in new and innovative digital enterprises and services,” he added.

     

    Throwing light on the reason for acquisition of Network18, Ambani said, “The acquisition through an open offer of Network18 media and investments and its subsidiary TV 18 broadcast by Independent Media Trust, the sole beneficiary of which is Reliance Industries is one aspect of the digital services play.” He stated that this would strengthen its 4G business at the intersect of telecom, web and digital commerce and the media through a suit of premiere digital properties.

     

    The reason for strengthening its large projects, one of which is Jio is to get Reliance Industries closer finding its way into the presetigious list of  Fortune 50 companies. He added: “Our efforts and focus over the next two years will be to intensify these initiatives and have them reach out to more citizens across the social spectrum. Reliance will be moving from investing in India’s economic future to integrating deeper with India’s social fabric.” 

     

    The AGM was also significant as it saw the appointment of Mukesh Ambani’s spouse Nita Ambani on the Reliance Industries board. Ambani stated that she was being appointed – as she was an “accomplished individual, the chairperson of the group’s CSR initiative, Reliance Foundation, which has done exceedingly well – “for furthering the group’s growth agenda.”

     

    Industry watchers have been speculating  whether she will have a role to play in the Network18 group, which RIL is in the process of acquiring totally. The megacorp has denied that this “will come to pass, at least for now.”

    Stay tuned in!!!

     

     

     

  • Post Reliance Industries’ takeover, ICRA revises Network18’s ratings

    Post Reliance Industries’ takeover, ICRA revises Network18’s ratings

    MUMBAI: It was only a few days ago that Reliance Industries announced the takeover of Network18, and the effects of the acquisition can already be seen. In a statement to the Bombay Stock Exchange (BSE), the media house has said that independent and professional investment and credit rating agency ICRA has revised its current ratings of the company.

     

    Network18 media and investments’ long term rating has been changed from ICRA BBB+ to ICRA A. Meanwhile its short term rating which was at ICRA A2+ is now at ICRA A1+. This for Rs 140 crore bank facilities of the company. “The outlook on the long-term ratings is revised from ‘stable’ to ‘positive’,” states the announcement.

     

    The fixed deposit programme of the company has been revised from MA- to MA with its outlook on the medium term rating revised from ‘stable’ to ‘positive’. The commercial paper of Rs 100 crore of the company was reaffirmed as ICRA A1+.

     

    On the other hand, Network18’s subsidiary TV18 also saw its ratings being revised. The credit rating for the fixed deposit of the company has been revised from MA- to MA with medium term outlook changed from ‘stable’ to ‘positive’.

     

    The long-term rating for bank facilities of Rs 370 crore of the company has from ICRA BBB+ changed to ICRA A. Outlook on long-term rating is revised from ‘stable’ to ‘positive’.

     

    Credit rating for the commercial paper of Rs 200 crore has been reaffirmed as ICRA A1+.

     

    Reliance Industries has now given an open offer that will go on till July.