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MUMBAI: Raghav Bahl-promoted Network18 has demerged and consolidated
the publishing business of Infomedia18 under 'Network18 Publishing'
as per the scheme of demerger approved by the High Court of
Delhi in 2011.
The
printing press business will continue to remain with Infomedia18.
As per scheme of arrangement, Network18 was to issue and allot
to the shareholders of Infomedia18 as on the record date,
7 (Seven) equity shares of Rs 5 each of Network18 for every
50 shares of Rs 10 each of Infomedia18. Meanwhile, shareholders
of Infomedia18 will continue to hold their original shareholding
in Infomedia18.
With
the scheme in place, Network18 Publishing will encompass three
divisions of Infomedia18's publishing business - Business
to Consumer (B2C) magazines, Business to Business (B2B) magazines
and Business Directories Division (BDD).
In B2C, the titles that will now come under the Network18
Publishing umbrella are Overdrive, Overdrive Hindi, Entrepreneur,
Better Photography, Better Photography Hindi, Better Interiors,
CHIP, T3, AVMAX. In B2B- Search, Auto Monitor, Modern Machine
Tools, Chemical World, Modern Plastics & Polymers, Modern
Packaging & Design, Modern Medicare, Modern Pharmaceuticals,
Modern Food Processing, Smart Logistics and Aftermarket will
be part of Network18 Publishing. Meanwhile in Business Directories-
Multi-city editions of Yellow Pages Business Directories,
Machine Tool Guide, Indian Exporters Guide, Construction and
Interior Design Guide, Industries State Guide and Motor Pumps
& Valves directories will be now under Network18 Publishing.
Additionally, Network18 Publishing will also manage production
and circulation operations for titles from the Forbes India
stable which currently includes Forbes India and Forbes Life
India.
Network18
Group CEO B Sai Kumar said, "We believe that the special
interest and B2B spaces will be one of the key drivers for
publishing in India, both in print and new media. With Network18
Publishing, we've aligned our assets to capitalize on this
trend both from a community building as well as a commercial
perspective. Going forward, as publishing models develop,
this alignment will significantly enhance our market proposition."
Sandeep Khosla, who was earlier CEO-Publishing at Infomedia18
will be heading the new devision as its CEO.
Khosla
added, "As Network18 Publishing, our growth strategy
will evolve in line with an increasingly multi-platform publishing
environment. Considering the strong traction of our brands
in key consumer and business communities, our focus will be
on leveraging this across areas including print, new media,
on-ground activation and value-added services. We hope to
build on this further by maximising synergies with group platforms
and in the process deepen engagement with our audiences and
aid monetisation of our brands."
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