TV18, the television broadcast network of billionaire Mukesh Ambani, today announced renewal of branding partnership between its news channel IBN and Turner Broadcasting System Inc's CNN.
IBN and CNN had in October 2005 entered into a 10-year brand licensing agreement. In late June this year, the US broadcaster said the tie-up will seize to exist from January 5, 2016.
TV18 and CNN said they are extending their collaboration on CNN-IBN.
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"Both parties embark on this new chapter with a determination to refresh CNN-IBN and provide a credible, non-partisan service that will deliver the latest news about local affairs and an Indian perspective to international developments," TV18 said in a statement.
Refusing to disclose the tenure of the renewal, an official said, "We are bound by contractual confidentiality and are not in a position to share these details of our agreement but let's be clear, it is not a short-term-agreement."
The agreement remains the same two-fold, brand licensing and content sharing partnership.
The editorial control and the day to day running of the channel will remain as before with the editorial team at CNN-IBN.
"However, CNN and TV18 will work more closely than ever before. There would be closer collaboration and sharing of resources with a view to refreshing the channel in a significant way," he said.
CNN will provide all and every resource and knowledge support on CNN-IBN including but not limited to, full content access, multi-platform editorial expertise, technology and engineering to ensure the continued success of the brand in India.
"We will have more resources on the ground, quicker response to breaking stories, value added features and reporting on global stories, especially those with high impact on India and emerging countries," the official said.
For CNN, its International Content Sales and Partnerships Group (a division of Turner Broadcasting System International) headed by Gregory Beitchman, VP Content Sales and Partnerships, will lead the relationship.
This division is a greater strategic undertaking by CNN with an aim to bring the best of CNN content and practices to partner channels around the world.
On the editorial front, Ellana Lee, Senior Vice President and Managing Editor for Asia Pacific will lead the relationship.
In addition, CNN's bureau in New Delhi led by Ravi Agrawal and the IBN editorial team will also work closely and leverage from each other's news gathering operations.
Rahul Joshi will be the CEO-News and group editor-in-chief.
"Today's announcement marries that quest for continuity, as well as pressing the "refresh" button in a significant way," the official said.
Announcing the extension, Network18 Chairman Adil
Zainulbhai said, "We are delighted to announce the renewal of this extremely cherished partnership between two most respected brands in journalism.
"In this second term of our collaboration, we aim to present a brand new CNN-IBN that will bring news with even greater speed, accuracy, clarity and credibility and keep the viewers tuned into the latest news and developments much ahead of others."
He said CNN-IBN intends to "cut through the noise and clutter that is currently present in the Indian television news space and offer best practices of journalism that will lead to better understanding of issues."
The channel will organize meaningful debates and raise issues that touch the lives of our viewers. "With this renewed partnership, we will enhance the process of news-gathering and delivery to our viewers in an informative and enlightening manner," he said.
Speaking on the occasion CNN International Chief Commercial Officer Rani Raad said, "We are really excited about the future of CNN IBN and together with the new management at TV18, are going to build upon the success we have already achieved."
CNN-branded channels around the world include CNN Turk, CNN Chile, CNN Philippines, CNN Indonesia and CNN Greece.
"In this second term, CNN and TV18 will forge a much closer working relationship to enable CNN-IBN's globally-savvy viewers to stay ahead. There is renewed interest and commitment from both sides," an official said.
The two firms believe CNN-IBN's position is a strength to build upon and are planning new initiatives to ensure the channel's continued success across platforms.
