Television

TV18 announces holding company TV18 Network Ltd

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MUMBAI: TV18 has announced consolidation of its media businesses, creating a group structure that is expected to unlock significant shareholder value. Hitherto, the Hindi consumer channel of the Group – "CNBC Awaaz" - and the proposed general news English Channel, were held in promoter entities and were legally not part of the listed Television Eighteen India Limited, due to government restrictions.

The current plan envisages consolidation of both of these channels into the listed entity structure and creation of 2 listed entities – the first one shall be the existing Television Eighteen India Limited, now holding both the business news channels, viz CNBC-TV18 and Awaaz, along with Moneycontrol.com and Commoditiescontrol.com; and a second listed holding company, illustratively titled TV18 Network Ltd, that will hold a 51 per cent plus stake in Television Eighteen India Limited, and a 51 per cent plus stake in the proposed general news Channels, informs an official release.

The restructuring will be achieved through a High Court process whereby the TV18 shareholder will automatically be allotted shares proportionately in the two entities and will now have a legal holding in both Awaaz and the proposed general news English channel, apart from his shareholding in the existing/listed TV18.

The restructuring enables TV18 to comply with the uplinking guidelines of the government, and is sought to be effected in a manner that fully and transparently captures economic value for the TV18 shareholder. The TV18 board has approved the restructuring plan. BMR & Associates are acting as overall financial and transaction advisors, while KPMG India Private Limited has provided indicative valuation guidance for the consolidation.

The new structure is expected to enhance the group's ability to cater even better to the needs of viewers for accurate, timely and insightful news and information. This also provides the group a platform to embark upon its next phase of growth, having achieved a position of undisputed leadership in the business and consumer news space.

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