The Network18 Group restructured its business on Wednesday to create two listed entities – New TV18 and New Network18 – down from the previous four companies on the Indian stock exchanges.
The New TV18 entity would have the TV businesses of the group and own CNBC-TV18, CNN-IBN, IBN7, CNBC-Awaaz and the Group’s 50 per cent stake (in Viacom18) in Colors, MTV, Nick, VH1 and IBN Lokmat.
The New Network18 will hold a controlling stake in New TV18 and will be the operating company for the group’s digital, publishing, sports and event management businesses. It will also hold all group investments in HomeShop18, Newswire18, DEN, Yatra and Capital18.
Apart from itself, Network18 presently has three listed subsidiaries on the Indian bourses — TV18, IBN18 and Infomedia18. After the restructuring exercise, TV18 will consolidate its TV businesses into IBN18 (New TV18). Residual TV18 businesses (Web18, Newswire18, Forbes India) with all investments (DEN, Yatra and Capital18 portfolio) will be merged with Network18.