Television

More Network18 senior management to exit as Reliance begins to take full control

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2014/05/29/network18.jpg?itok=K4_xqCJf

MUMBAI: Black Wednesday. Network18 employees must be quite bewildered by the happenings of 28 May 2014. First came the announcement that group CEO B. Sai Kumar had decided to call it a day after 14 years of nurturing and growing it along with Raghav Bahl and Haresh Chawla. Then came the news that even COO Ajay Chacko had decided to bolt for the door.

But this is just the tip of the iceberg, according to sources. Apparently, a senior management exodus is likely to hit the group over the next few days.  The group today issued a release  on the BSE stating that CFO RDS  Binni Bawa has already tendered in his resignation.  Among those who are tipped to follow  include : senior vice-president corporate affairs and company secretary Anil Srivastava and group general  counsel Kshipra Jatana. 

Their departure is a precursor to the biggest announcement that is likely to come out: that of the exit of founding/controlling shareholder & managing director Raghav Bahl.

Whether leading journalists like Rajdeep Sardesai, Sagarika Ghose, Senthil Chengalvaryan, Sheeren Bhan, amongst others would quit  the Network18 group or not is not known at the time of writing. Though speculation is running rife that this will also come to pass in the next few days.  However, insiders insist that Sardesai is believed to have assured the team of CNNIBN journalists at an internal meeting at CNNIBN a couple of days ago that "he would be staying and that things are only going to get better from now on."

No one from the company was available for comment, despite several attempts by indiantelevision.com journalists.

Apparently, the entire exercise is part of Reliance Industries getting into the driver’s seat at the Network18 group. The former is likely to make an announcement to buy out Raghav Bahl's equity stake, followed by a offer to the public, in order to take a controlling stake in Network18

Says a media observer: “These changes are happening at a time when Reliance Industries Ltd (RIL)  has in recent times plumped up on media heavyweight media executives. It has lured away Zee Media Corp Ltd CEO Alok  Agrawal, senior journalists Gautam Chikermane, BV Rao and Rohit Bansal. Speculation is that this exodus is taking place as a precursor to Reliance taking over the management and control  of the group.”

No one from Reliance Industries was also available for comment either, at the time of filing this report. Spokesperson Tushar Pania said he would send a formal statement as soon as possible. 

It may be recollected that Bahl had sought the help of RIL chairman Mukesh Ambani to bail out Network18 when its debt had ballooned beyond manageable proportions a couple of years ago. Ambani had extended a loan through a trust to Bahl’s companies that held the Network18 stake. That loan was used to pare down the group’s debt and also acquire the ETV channels. But it also left open the door for Ambani to wholly take over the Network18 group at a  later stage, though the commitment had been made that Bahl and the team would be left alone to manage it.

Sources indicate that RIL has been pushing  Bahl to cede control of the management over the past few months and he seems to have finally consented. 

(updated on 30 May 8 am)

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/03/Pankaj-Sourav_0.jpg?itok=-MGetI3Q
World Billiards Championship to be telecast live on digital media

MUMBAI: Sports app Sports Flashes has tied up with Billiards & Snooker Federation of India (BSFI) to telecast the IBSF World Billiards Championship live. The championship will be taking place in Bengaluru from December 5 to 12. The eight-day championship that includes the Points format and the...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/02/star-plus-800x800.jpg?itok=skBw-Vyj
Star Plus leads in traditional entertainment media brand category: Study

In an industry study conducted by Vidooly, it is observed that Facebook could be a great platform for aspiring video creators in the country. They can then incorporate it in their overall content strategy and try to leverage other platforms like YouTube, Twitter and Instagram.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/02/discovery-800x800.jpg?itok=0Nm7MzL-
Discovery to air 'River Monsters' throughout December

Freshwater detective, biologist and extreme angler Jeremy Wade has spent three decades traveling the world’s waterways in search of man-eaters that lurk beneath the surface of rivers and lakes in some of the most inhospitable locations in the world.

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/02/tv-today-800x800.jpg?itok=S95bd2jx
Q2-17: TV Today Network topline up

BENGALURU: TV Today Network Limited (TVTN) reported 5.1 per cent increase in standalone revenue (TIO) for the quarter ended 30 September 2016 (Q2-17, current quarter) as compared to the corresponding quarter of the previous year (Q2-16). Standalone profit after tax (PAT) however declined 4.1 per...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/02/monisha-800x800.jpg?itok=Z2ntYoIO
Discovery appoints FremantleMedia's Monisha Jaising Vaid

Discovery Networks is on a hiring spree. In its endeavour to accelerate growth and embrace opportunities beyond linear, Discovery Networks Asia-Pacific has now appointed Monisha Jaising Vaid as the director of original content for real world products. She joins from FremantleMedia India TV...

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/02/fremental-800x8000.jpg?itok=KYe2Um-i
Wentworth: Fremantlemedia International, Sky Deutschland tie up

FremantleMedia International (FMI) has announced it had secured a deal with German-speaking PayTV platform, Sky Deutschland, for the award-winning and critically-acclaimed prison drama, Wentworth.

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/02/Amirzada-cast.jpg?itok=AdSC4XPM
Amirzada Nawab Khan's story to be telecast on Zee Yuva

MUMBAI: Maharashtra Police, one of the potent police forces in India, has come a long way from the decade of 80s when it lacked training & high-end precision weapons which is the norm of late. That decade was marked with the rise in crime and police’s main weapon were their networking skills...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/02/BB10.jpg?itok=HeTvyaI5
Colors leads Hindi, urban GEC; Sony Pal retains position

MUMBAI:Colors continues to lead the Hindi GEC and Urban GEC markets in week 47. In Hindi GEC rural market, Sony Pal emerged as the number one channel while Zee Anmol bagged the second position, according to Broadcast Audience Research Council (BARC).

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/01/axn-800x800.jpg?itok=9WZlHTlX
AXN to air s1-6 of 'Californication'

Novelists are nerds, some say so but there was this one who broke all the stereotypes unabashedly. He was stylish, charming and could flatter almost anyone with his good looks and wit. Does it ring a bell? Yes, we are talking about the much loved TV character, Hank Moody. Get ready for debauchery,...

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories