Television

Reliance brings with it the zest to win, says Sudhanshu Vats

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MUMBAI: On 29 May 2014, Reliance Industries Limited (RIL) had announced that it would spend Rs 4,000 crore to take complete control of Network18, the company which Raghav Bahl founded in 1993.

The takeover labeled as the biggest takeovers in India’s media industry, followed the announcement with an open offer to the public.

Since then, not much has been spoken about the management changes, cultural changes in the companies or the working.

So, when indiantelevision.com met Viacom18 group CEO Sudhanshu Vats, we couldn’t help but ask.

Answering the obvious question of has there been any management changes post the takeover of Network 18 by Reliance, Vats says, “No, there have been no changes at Viacom18. The same management team continues to drive Viacom18.”

Vats goes on to add that Reliance is a very large and successful company. It believes in scale and has strong leading position in all the business segments in which it operates. “The good news from our point of view is that we now have two industry giants – Reliance and Viacom as partners. Reliance brings with it scale, resources and the zest to win. Those are good traits for us to gain new heights in the media sector,” he emphasises

For the record, Network18 owns news TV channels (including CNBC-TV18, CNN-IBN, CNBC Awaaz etc), websites (firstpost.com, moneycontrol.com), magazines (including the license for Forbes India), entertainment channels (including Colors, MTV and Homeshop18) among other businesses. And Viacom18 founded in November 2007 is a 50:50 joint venture operation in India between Viacom and the Network 18’s subsidiary TV18, based in Mumbai.

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