Television

TV18 to cut 12% jobs, merge broadcast operations

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2017/01/13/tv18.jpg?itok=S3Datxka

MUMBAI: TV18 will cut 12 per cent of its permanent staff and merge the broadcast operations of its two business news channels, a clear sign that news channels need to take corrective measures amid slowdown in advertising revenues.

The company will also use Rs 3 billion out of its proposed Rs 5.1 billion rights issue to retire part of its debt.

The twin steps will result in a cost saving of Rs 650 million annually.

"Around 205 jobs are gone, but senior editorial staff have been retained," a source said.

TV18 will merge the logistics, back-end and broadcast operations of the two channels - CNBC TV18 and CNBC Awaaz - coinciding with the completion of 10 years of CNBC TV18 and five years of CNBC Awaaz as stand-alone operations.

Network18 Group CEO Haresh Chawla said, “It is our belief that the next stage of growth and profitability of our business news operations will come from a more synergistic entity that combines the strength of two powerful and complementary brands. TV18 has already embarked on a path to financial restructuring as mentioned in the rights issue offer. Both these moves put together will make TV18 more robust in operating as well as financial terms.”

The company explained that the channels will continue to maintain their distinct identities. Only some of the over-lapping and common operations at the back-end are being merged. The company expects to optimise approximately 20 per cent in annual operating costs via this restructuring.

TV18 said that these moves will help the company return to better operating margins and profitability. The company will take a one-time extraordinary restructuring charge in the current quarter, and the synergies are likely to result in savings from the next quarter.

Shares of TV18 closed Friday at Rs 78.75, up 2.54 per cent.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/22/cosmos.jpg?itok=2FqpgpcO
Cosmos-Maya’s next international co-production is a spin-off series of the much talked about 3D Animation feature film Leo da Vinci: Mission Mona Lisa

is another high quality 3D animation international co-production - a spin-off series based on the recently released film Leo da Vinci: Mission Mona Lisa.

Television TV Channels Kids
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/22/devlok.jpg?itok=PQY6P734
EPIC TV & Penguin Present The Third Book Of The Devlok With Devdutt Pattanaik Series

Where did the name Radha come from? When did Christianity first come to India? What is the connection between sanskar and dharma? After the enormous success of the first two books in the ‘Devlok with Devdutt Pattanaik’ series, India’s favourite mythologist, Devdutt Pattanaik, is back with a third...

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/22/image.jpg?itok=nszHwY7X
Banijay Asia and Salman Khan TV collaborates to create content for digital and tv

World’s largest independent content creation group, Banijay Group recently entered Indian & South East Asian market under the guidance of Deepak Dhar with an aim to produce content across genres. Banijay Asia &SK TV, which was launched few years back, come together to create novel and...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/22/dsport.jpg?itok=IysB7fWD
DSport reaches 110 mn households in a year

DSport, the sports TV channel by Discovery Communications, has achieved the milestone of reaching 110 million households in India. The channel was launched on 6 February 2017 and achieved the milestone within one year of operations in India and has expanded its distribution across all DTH and...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/22/kbc.jpg?itok=ETOcxSNn
Star Suvarna to telecast 'Kannadada Kotyadhipati 2018' the Kannada version of 'Who wants to be a Millionaire' as part of its revamp

May 21, 2018: The third season of Kannadada Kotyadhipati, the Kannada version of ‘Who wants to be a Millionaire’, which sets the stage for a revamps of Star Suvarna, the Kannada GEC channel of Star Network will premiere in June’18. Since January 2018, the channel has gained viewership share in...

Television TV Channels Regional
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/22/Republic_TV-CAF_India.jpg?itok=4m-WJW5E
Republic Network partners with CAF India to nurture the Culture of Giving amongst Indians as part of its first year celebration.

Republic TV, India’s number 1 English news channel for non-stop 53 weeks is celebrating its milestone first year anniversary in a unique and special way. Republic TV has partnered with Charities Aid Foundation (CAF) India, a not for profit organisation to fuel and accelerate the spirit of giving...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/22/ipl.jpg?itok=jxhUTa_K
Star spending up to Rs 2 cr on production per IPL match

MUMBAI: After having bought rights for almost all important sporting properties in India, Star India had the massive task to ensure that it sets a new benchmark for cricket. In February, it won the audio-visual production rights for IPL 2018, making it the first time that a broadcaster is...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/21/hichki.jpg?itok=YnbGpJnc
Watch Rani Mukerji’s ‘Dadasaheb Phalke Excellence Award’ winning performance in ‘Hichki’ only on Sony MAX

After garnering success at the box office and a heart-warming response from the audience, the Rani Mukerji starrer ‘Hichki’ is all set for its Worldwide Television Premiere only on Sony Pictures Networks’ number 1 Hindi movie channel, Sony MAX on Saturday, 26th March at 9pm. Directed by Siddharth...

Television TV Channels Movie Channels
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/21/raid.jpg?itok=P0Yt38Li
World Television Premiere of Raid on Star Gold

This May, Star Gold to bring the World Television Premiere of Raid. Touted as first Bollywood project to be based on an Income Tax raid, this Ajay Devgn starrer hit will be showcased on 27th May 2018, Sunday at 1 PM on Star Gold.

Television TV Channels Movie Channels

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories