| 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.