FIPB turns down TV 18 proposal

NEW DELHI: The Foreign Investment Promotion Board (FIPB), on recommendation of the information and broadcasting ministry, has turned down a proposal from Television Eighteen Ltd. to offload 15 per cent equity stake to CNBC Asia in a subsidiary that uplinks the CNBC TV 18 business channel from India.

Contacted by, a senior I&B ministry official said that since the uplinking subsidiary,, had not sought its permission for uplinking from India, it recommended to the FIPB not to consider the proposal of foreign investment.

"There are several issues on which clarity is lacking, including the fact that in the parent company of iNews (TV 18) there is foreign portfolio investment amounting to about 10 per cent," the I&B official explained the ground on which it had not given the TV 18 proposal a no-objection, a mandatory procedure that is followed by the FIPB.

TV 18 CEO Haresh Chawla told today evening, "Well we are still optimistic about the fact that the doubts of the government would be cleared and we would clarify the points raised by the I&B ministry."

The I&B ministrys stand is that since there are certain doubts on the issue, the whole matter would amount to non-compliance of the uplinking norms announced by the government in March.

According to the uplinking guidelines, news channel desirous of uplinking from India cannot have more than 26 per cent foreign holding in the company. 

As an another safety measure --- learning from the experience of Star News --- the government had also stipulated that one single Indian entity ought to hold a majority shareholding of 51 per cent in the news venture. On this count too the government is not clear as the shareholding of the promoters of TV 18 is said to be less than 51 per cent. 

The I&B ministry official, however, added that once TV 18 comes forward seeking permission, the proposal could be taken up for review. 

In an official statement sent to, TV 18 said that in reaction to a "negative response" to the application in connection with the recent restructuring of CNBC-TV18, the parties concerned "shall study the grounds on which the FIPB has disallowed the application, and shall reserve their right to submit further clarifications to the government to strengthen their case for the induction of this equity."

The statement, quoting Television Eighteen India Ltd. MD Raghav Bahl, said : "We shall work closely with CNBC Asia Pacific in making suitable representations to the government of India to review their decision. While we do so, the operations of CNBC-TV18, the 24-hour business channel owned and operated by TV18, shall continue as before."

Alexander Brown, president and CEO of CNBC Asia Pacific in the statement said : "We are committed to the Indian marketplace, and to our partnership with TV18. We will review the situation with TV18 in order to determine the best way ahead, and look forward to a successful conclusion of this matter."

Latest Reads
Sun TV leads the Tamil market in BARC week 32

Zee Bangla continued to maintain its first position in BARC’s week 32 data. The Bhojpuri market, however, had a new entrant - Oscar Movies Bhojpuri that secured fifth position, whereas in the Kannada segment, Colors Kannada retained its leadership position. Asianet from Star TV continued took the...

Television TV Channels Viewership
Zee Anmol back on top of Hindi channels in across genres

After a short hiatus, Zee Entertainment Enterprises Ltd (Zeel) free to air (FTA) Hindi GEC Zee Anmol was back at number two rank in Broadcast Audience Research Council of India (BARC) weekly list of the top 10 channels across genres (across genres list) in week 32 of 2018 (Saturday, 4 August 2018...

Television TV Channels Viewership
Star India mobilises disaster relief for Kerala; Star network rallies public support #AllForKerala

As Kerala struggles with the devastation of massive floods, Star India, and its employees have stepped up to donate to and mobilise disaster relief for the flood-ravaged state #AllForKerala

Television TV Channels GECs
BARC week 32: Republic TV regains top position in English News

After losing its top position in week 31 of BARC ratings Arnab Goswami’s Republic TV regained its top position in the English news genre in week 32. Times Now stepped down to second position.

Television TV Channels Viewership
Zee Anmol leads Hindi GEC (U+R) in BARC week 32

Dangal TV emerged as the new entrant in Broadcast Audience Research Council (BARC) data for week 32 of 2018 in the Hindi GEC (U+R) market.

Television TV Channels GECs
HCL Corporation & The Habitats Trust tie-up with Animal Planet to create awareness about the need to save species and their habitats with ‘On the Brink’

HCL Corporation, a global technology conglomerate, & The Habitats Trust, a recently launched foundation working towards protecting habitats and their indigenous species

Television TV Channels English Entertainment
&flix brings the explosive action thriller this Sunday with ‘S.W.A.T.: Under Siege’

It’s triple the trouble and thrice the thrill – this season, your favorite Special Weapons and Tactics team – S.W.A.T. are back with the third installment of the blockbuster series.

Television TV Channels English Entertainment
Sony India bets on Pro Volleyball League

Sony Pictures Networks (SPN) India has signed a multi-year deal with Baseline Ventures and Volleyball Federation of India (VFI), to broadcast the inaugural season of the Pro Volleyball League in February 2019.

Television TV Channels Sports
Romedy NOW launches ‘Happy Hours’ in collaboration with ‘Happy Phirr Bhag Jayegi’

Romedy NOW, India’s favourite English Entertainment channel, introduces a specially curated property ‘Happy Hours’, an exciting line-up of romantic comedies, in collaboration with Happy Phirr Bhag Jayegi.

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories