Television

Promoters' stake in Network18 rises to 73% after rights issue

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2016/11/08/Untitled-1_16.jpg?itok=WTQK5UtF

MUMBAI: Raghav Bahl's stake in Network18 has soared to 73 per cent after a muted response from the other shareholders to the rights issue but it is still not clear how much control Mukesh Ambani's Reliance Industries Ltd (RIL) will have indirectly over the sprawling media company which has interests in television, internet, films, digital commerce, magazines, mobile content and allied businesses.

RIL's Independent Media Trust (IMT) was to provide the money the promoters of Network18 would require to subscribe to shares in the rights issues of both Network18 and TV18. The details of funds lent by IMT through investments in zero coupon optionally convertible debentures (ZOCDs) issued by the promoter companies are not yet available.

A minimum amount of Rs 9.96 billion borrowed from IMT would result in a 51 per cent stake in the promoter companies of Network18 on conversion of the ZOCDs.

Following the closure of the rights issue on 4 October, the promoter holding in Network18 Media & Investments Ltd has jumped by 51 per cent from its earlier stake of 48.30 per cent.

This follows the increase in stakes of the six promoter companies which subscribed to the promoters' entitlement in the rights issue and also to the rights entitlement unsubscribed by non-promoter shareholders.

After the rights issue, the shareholding of the six promoter companies in Network18 has increased to 66.16 per cent from 36.90 per cent. After including the shareholding of other promoter group holdings, the total promoter stake in Network18 after the rights issue is 73 per cent.

The six promoter companies are RRB Mediasoft, RB Mediasoft, RB Media Holdings, Watermark Infratech, Colorful Media and Adventure Marketing. These promoter companies are owned and controlled by Bahl, founder of Network18 group, and wife Ritu Kapur.

Network18's subsidiary TV18 Broadcast Ltd operates news channels CNBC-TV18, CNBC Awaaz, CNBC-TV18 Prime HD, CNN-IBN, IBN7 and IBN-Lokmat (a Marathi regional news channel in partnership with the Lokmat group of newspapers).

TV18 also operates a joint venture with Viacom, called Viacom18, which houses a portfolio of popular entertainment channels - Colors, Colors HD, MTV, Sonic, Comedy Central, VH1 and Nick - and Viacom18 Motion Pictures, the group's filmed entertainment business.

Network18 offered 307 shares for every 50 shares held by its shareholders at a price of Rs 30 per share. Its subsidiary TV18's rights issue of 41 shares for every 11 shares held by its shareholders at a price of Rs 20 per share closed on 15 October, but the details of the issue are still not available.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/21/img_21102021_133722_800_x_800_pixel.jpg?itok=vhRQGg5e
July-Sept TV ad volumes show highest spurt in 2021: Barc

Mumbai: Ad volumes on television continue to post healthy growth, with the July-September quarter registering 461 million seconds of advertising – which is the highest this year, as per Broadcast Audience Research Council (Barc) India’s July-September 2021 Ad Volumes - Special Festival Edition...

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/21/anr.jpg?itok=caB18OxN
IN10 Media’s Gubbare supports child education with Smile Foundation

With the education of children impacted by the pandemic, IN10 Media Network’s kids channel Gubbare has joined hands with leading non-government organisation Smile Foundation to support its Shiksha Na Ruke campaign.

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/21/book.jpg?itok=gYXUgnGI
Indian media business has grown not just in size but in value

The Indian media business is estimated to be a $19 billion industry in 2021, according to veteran business journalist Vanita Kohli-Khandekar. On 20 October, Khandekar inaugurated the fifth edition of her book ‘The Indian Media Business: Pandemic and After’ published by Sage Publications India at a...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/20/aaj.jpg?itok=aNpt9Gh_
Aaj Tak Bangla's Durga Puja coverage goes beyond food and pandal hopping

Durga Puja is the time of the year that puts Bengal on the global itinerary of culture and festivities. For Bengal, Durga Puja is not just a festival but also a celebration of art, history, heritage, and homecoming.

Television TV Channels Regional
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/20/img_20102021_161133_800_x_800_pixel.jpg?itok=avsj-hxA
NTO 2.0: Times Network publishes new RIO

Mumbai: Times Network has published its reference interconnection offer (RIO) issued under telecommunications (broadcasting and cable) services interconnection (addressable systems) regulations, 2017 for all distribution platforms. The new RIO will be effective from 1 December onwards.  The tariffs...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/20/img_20102021_142756_800_x_800_pixel.jpg?itok=Mb5skioU
Red FM launches ‘Totka Chalao, India Ko Jeetao’ campaign for World Cup

Mumbai: Radio and entertainment network 93.5 Red FM has kick-started its World Cup campaign called ‘Totka Chalao, India Ko Jeetao.’ The campaign will be rolled out in 40 key markets across the country. Capturing the passion and craze of fans, Red FM will celebrate the ‘totkas’ and will have RJ’s...

Television TV Channels Music and Youth
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/20/img_20102021_141022_800_x_800_pixel.jpg?itok=DAMHQ7Fq
AR Rahman returns as BAFTA Breakthrough India ambassador

Mumbai: The British Academy of Film and Television Arts (BAFTA) has announced AR Rahman as the Breakthrough India ambassador for another year as they invite a new round of applications in India for the programme. Supported by Netflix, this programme will be open for prospective talent across the...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/20/img_20102021_113749_800_x_800_pixel.jpg?itok=_zNg5lCy
TV9 Network appoints Anshuman Tiwari as editor, Money9

Mumbai: TV9 Network has strengthened the leadership of TV9 Digital and appointed Anshuman Tiwari as editor of Money9. Veteran journalist Rakesh Khar will assume a larger role as business and economy editor of the network. Tiwari is a recipient of the Ramnath Goenka Award, the WAN-INFRA...

Television TV Channels People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/19/img_19102021_174117_800_x_800_pixel.jpg?itok=xdTmtb3g
Network18 reports 53 per cent EBITDA growth in Q2 FY22

Mumbai: Network18 Media and Investments Ltd has announced its results for the second quarter financial year 2022. The media company reported that the consolidated EBITDA for the quarter grew 53 per cent year-on-year and operating margin at 18.2 per cent. The entertainment margin stood at ~19 per...

Television TV Channels News Broadcasting

Sign up for our Newsletter

subscribe for latest stories

* indicates required