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=5nTzRO6z

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/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
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/24/Nexa-P1-Powerboat_1.jpg?itok=Ada8vEtF
Sony Pix & ESPN to telecast Global Powerboat Racing live from 3-5 March

MUMBAI: Nexa P1 Powerboat, Indian Grand Prix of the Seas, will be telecast live globally and promises to deliver the most comprehensive coverage in the history of powerboating. Seeding a global sport from India, the Nexa P1 Powerboat, Indian Grand Prix of the Seas, will set a global benchmark for...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/24/Alan-Shearer.jpg?itok=kJa34ytE
Star to host Premier League movement on 2 & 3 March, legend Alan Shearer to participate

MUMBAI: The Football Movement, jointly hosted by India On Track, is being held in partnership with the Premier League’s Indian broadcast partner Star Sports. The conference will bring British and Indian football organisations and businesses together to discuss ways to continue to grow the...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/24/naagin%202-800x800.jpg?itok=2sQq6fWi
Star Plus takes over Colors, Rishtey retains top position: BARC wk 7

MUMBAI: Star Plus pushed Colors to the second spot in Hindi GEC and Hindi GEC (Urban) genres in the BARC India ratings week 7 emerging on the top in these two categories. Rishtey retained its first position in the Hindi GEC (rural) category whereas Zee Anmol and Star Utsav respectively bagged the...

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/24/Tarun%20Katial-800x800.jpg?itok=EAUMF-Io
RBNL all set to relaunch Big Magic

MUMBAI: Indeed, good decisions lead to great success.  Getting into the stable of one of India’s leading media conglomerates has opened up several opportunities for Reliance Broadcast Network Ltd (RBNL).   After the acquisition deal with ZEEL, RBNL is all set to relaunch its Hindi general...

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories