IL&FS fund invests Rs 400 million in TV18's Global Broadcast News

MUMBAI: Global Broadcast News (GBN), a Television Eighteen Group company, has raised Rs 400 million from Leverage India Fund, a fund managed by IL&FS Investment Managers Ltd (IIML). learns that GBN has been valued at slightly over Rs 4 billion.

According to sources close to the deal, Leverage India Fund will hold a minority stake in GBN at a later stage. GBN owns and runs the newly launched English-language general news channel, CNN IBN.

"The support and funding that we have received from a strong investor like IIML puts GBN in a strong spot to build on its growing leadership position within the Indian broadcasting industry," GBN director and TV18 Group managing director Raghav Bahl said in a communication to the Bombay Stock 

Exchange today.

GBN, which has plans to run a slew of TV channels, had inked a co-branding deal in 2005 year with Turner International (a Time Warner company), owners of CNN.

Last year, the TV18 Group had announced a restructuring to comply with government norms related to news channels that mandates foreign investment in news channel uplinking from India cannot be over 26 per cent.

The business news operations (including Awaaz and CNBC TV18) is being consolidated in TV18, whereas Network 18 India Holdings Ltd will hold majority stakes in TV18 and GBN.

Television Eighteen stock today closed on the Bombay Stock Exchange at Rs 411.40, having opened the day at Rs 420.

(1 US$ = Rs 44)

Also Read:

TV18 Q3 net up 47% to RS 120 million

TV18 founder Raghav Bahl to relinquish 10 per cent stake

Latest Reads
IBF to intervene in TRAI's SC petition on 15% discount cap

The TRAI tariff order, which remained a topic of intense debate and discussion in 2017 and 2018, is likely to dominate discourse early on in 2019 too, at least from a legal standpoint as the Supreme Court resumes work after the winter vacations.

Television TV Channels GECs
Big Synergy appoints Rajiv Bakshi as CEO

Reliance Entertainment's Big Synergy Media Ltd has appointed Rajiv Bakshi as its chief executive officer.

Television Production House Fiction
For the first time, viewers get to choose their favourite shows on Sony BBC Earth

Content may be King, but so is the viewer. Sony BBC Earth, India’s premium factual entertainment channel, takes another leap in audience engagement by giving viewers the choice to pick their favourite shows of 2018 on the channel.

Television TV Channels News Broadcasting
Shemaroo Entertainment’s Bhakti App Bags the Innovative Mobile App Award

Shemaroo Entertainment Ltd., added another feather to its cap with firm’s ‘Shemaroo Bhakti App’ winning the special mention award under Innovative Mobile App category at the Drivers of Digital Summit 2018

Television TV Channels Music and Youth
Sony Pictures Networks India delivers on its commitment of 'Ek India Happywala'

Sony Pictures Networks India (SPN) has accelerated its focus towards creating a positive social impact in the ecosystem by building on its three-pillar framework; empowerment, education and environment.

Television TV Channels Sports
English news most benefited genre in Chrome DM week 50

MUMBAI: With a growth of 1.29 per cent as compared to last week (49), the English news genre marked the highest opportunity to see (OTS) among all categories in week 50 of Chrome Data Analytics & Media.  In the English news genre, Loksabha TV gained the highest OTS with 98.2 per cent in six...

Television TV Channels Viewership
Sanjay Gupta on executing the new tariff regime, Star India’s strategy and channel pricing

Star India COO Sanjay Gupta is a veteran of many high-stake battles. The one he’s currently battling could be long drawn, unpredictable, unlike anything he’s encountered before and potentially his toughest in a while. However, as India’s broadcast bosses put their heads down to implement TRAI’s new...

Television TV Channels GECs
Star Sports curates a special line up of programming shows for VIVO IPL 2019 Player Auction

The forthcoming VIVO IPL 2019 Player Auction promises to be an unparalleled spectacle with Star Sports, the official broadcaster of the tournament geared up with a special line up of programming shows for all the cricket fans across the country.

Television TV Channels Sports
Uday Shankar elected FICCI VP for 2018-19

Adding another feather to his cap, 21st Century Fox Asia president and Star India chairman and CEO Uday Shankar has been elected as the vice president of the Federation of Indian Chambers of Commerce and Industry (FICCI) for 2018-19.

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories