Network 18 launches events division

Network 18, the holding company of TV18 and Global Broadcast News, has announced the launch of a new division, E18.

The new division will operate in the entertainment events space. E18 will be headed by former Hindustan Times executive Farhad K Wadia.

E18 plans to function in the live entertainment space by leveraging various media brands owned and managed by the TV18 Group. E18 will conceptualise and stage large format events such as concerts by international artists, bollywood shows, award nights in India, in addition to conceptualising and executing large format business conferences, conclaves and seminars.

"Farhad's mandate would be to synergise with the existing properties of the group, while running E18 as an independent profit centre. His appointment is entirely in keeping with the group's philosophy of inducting fully-empowered CEOs to launch and scale up new businesses within the media space," said managing director of TV18 Raghav Behl.

The TV18 group recently announced a joint venture with US-based media conglomerate Viacom for general entertainment in India. Viacom's three channels, together with the film production business of Studio 18, a group company of TV18, will now be housed in a new company called Viacom 18.

Viacom18 will also produce films, primarily for Indian audiences. At a later stage, Paramount Pictures and DreamWorks Studios, also owned by Viacom, may explore collaboration with Viacom 18. Viacom and TV18 are also partners in an asset management company that is launching a fund to invest in film assets. The new initiative E18 will also come under the joint venture.