Television

Web 18 to acquire three internet companies

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/06/21/Untitled-1_33.jpg?itok=mOrpBKsc

MUMBAI: Television Eighteen India Ltd's internet arm, Web 18, will be acquiring three internet companies — Cricketnext.com, Compareindia.com and Urban Eye, a web design and technology firm. The acquisitions will help the group consolidate its focus on the internet business further.

"We are acquiring significant majority stakes in these three companies. With our financial portal Moneycontrol.com, we have built a global scale and size. We plan to soon replicate this with the new portals we have acquired," says TV18 Group CEO Haresh Chawla.

TV18, it is learnt, will allow the operations to be run by the old management. CricketNext.com co-founder and managing director Sanjay Jha agrees investments will be pumped in to scale up operations. "With our new partner, we will be able to considerably upscale our operations. We have parted with majority but will continue to run the operations," he says. Cricketnext.com was in talks with strategic investors including TV broadcasters to dilute its stake. "We have commenced negotiations with TV channels. "We are also in negotiations with horizontal portals and telecom operators. Our role as a content aggregator has strategic value for the other media companies and telcos," Jha had indiantelevision.com in May this year.

TV18 is also eyeing acquisition of a matrimonial site as it plans to create a bouquet of vertical portals, a source in the company says.

Cricketnext.com and Compareindia.com are in the retail consumer space. Cricketnext.com is a sports portal with a user base of over five million people whereas Compareindia is a product comparison site, with a user base of over two million people and offers a comprehensive product comparison engine with thousands of products over 50+ categories.

These two portals will be able to complement some of the key television and internet properties of the TV 18 Group. Cricketnext.com will complement the group’s online news portal, ibnlive.com, and also CNN IBN and IBN7 television channels. Compareindia.com will synergise with moneycontrol.com. It will also draw synergies with Awaaz, the TV 18's Hindi consumer-business offering on television.

Urban Eye is a web design and technology firm, with over 50 specialised internet technology professionals, which will help Web18 scale up its operations rapidly.

The companies are currently being restructured so as to align their operations to Web18. The two portals will be relaunched shortly.

This is the second round of acquisitions that Web18 has announced. The company acquired a significant stake in Yatra.com and Jobstreet.com India a few months ago.

The Indian Internet industry is on the verge of explosive growth. By 2008, the online user base is expected to grow to 100 million. TV 18 has been consistently growing its internet presence organically as well as through relevant acquisitions in the consumer internet space.

"These acquisitions are in line with our strategy to strengthen our position in the consumer internet space. Web 18’s vision is to be the leader in the consumer internet space. We expect consumer focused services like online recruitment, financial services, travel services, product comparisons and home shopping, sports etc to drive the growth of the internet in India. We expect significant synergies and competitive advantage to emerge from this move," adds Chawla.

BMR & Associates acted as transaction advisors for TV 18 on this deal.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/27/gaurav-banerjee%20%281%29.jpg?itok=PWD8w9tN
Star Plus Dopahar launched with original, diverse and differentiated content

MUMBAI: Star Plus has announced Star Plus Dopahar, an afternoon time-band (12:30 to 3 pm) on television, with a spectrum of original, diverse and differentiated content. In a category with fierce competition, Star Plus, as the leader, has always anchored change by redefining the rules of the game....

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/27/ZMCL.jpg?itok=tztHeWVf
Zee Media to seek shareholder nod to demerge DNA print business

MUMBAI: Print and TV news. For some that would make for a heady combination. But, not for the Essel group-promoted Zee Media Corp Ltd (ZMCL) which runs the Zee News channels as well as the newspaper DNA through a clutch of unlisted subsidiaries. DNA has a print edition in Mumbai and has launched in...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/27/BARC-Dil%20Bole%20Oberoi.jpg?itok=-FGXNpmK
Five TV shows that impressed in week 7 of BARC

MUMBAI: Indian TV audience is like the spectators who took part in deciding the fate of a gladiator who lost a duel in the infamous Roman games encouraged by many a Ceaser. Thumbs down meant death; thumbs up meant the vanquished could live on – to entertain them another day.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/27/Bakish-brad-800x800.jpg?itok=ARUPeulF
Viacom announces leadership transition at Paramount Pictures, CEO Brad Grey to step down

MUMBAI: Viacom Inc. has announced that Brad Grey will step down from his role as chairman and chief executive officer of Paramount Pictures. The company is commencing a comprehensive search to identify a successor, and Grey will remain at Paramount for a period to support the transition.

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/25/ceo-uday_1.jpg?itok=8vKqyGy5
Conviction comes from the society & your country, says Star India's Uday Shankar, E&Y's 'Entrepreneurial CEO' award-winner

MUMBAI: "The conviction comes from the society, the world and the country you live in," Star India chairman and CEO Uday Shankar said on winning the "Entrepreneurial CEO' award of the year 2016 by EY, the consulting firm formerly known as Ernst & Young.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/25/supriya-sahu-Tan%20Boon%20Siong-800x800.jpg?itok=FWFh7bOd
Doordarshan employs German innovator for upgrading news studios

MUMBAI: India’s largest broadcast operation, Doordarshan (DD) reaches around 92% of the population and 81% of its territory. Government-funded, it is also the largest terrestrial network in the world, and among the largest in terms of studios and transmitters with more than 90 studios and relay...

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/25/bedi_singh-Susan-Panuccio_0.jpg?itok=vhZlSjn5
Bedi, old-time Murdoch hand, departs News Corp

MUMBAI: News Corp has announced that Mr. Bedi A. Singh will be departing as the chief financial officer effective 1 March. Susan Panuccio, currently the chief financial officer of News Corp Australia, will become the new CFO.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/25/Untitled-1.jpg?itok=xAXnlxcy
Big Ganga shows now available on ZEEL's OZee

MUMBAI: Nowadays, a marketing strategy simply wouldn't help a television channel succeed. It would need the right distribution strategy and a worthwhile social media presence. Lately, almost all channels are extending their availability digitally. From linear feed on television to pick and choose...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/24/mn%3D%20%281%29.jpg?itok=62l960iv
MN+ to air its Oscar special property 'The Academy Club'

MUMBAI: MN+ is all geared up to air their Oscar special property The Academy Club that will leave the movie lover ecstatic with cinematic brilliance. The channel will air this property on 25 and 26 February, throughout the day.

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories