MUMBAI: Network18 Group has appointed Ajay Chacko as chief operating officer.

This appointment is aligned with the group?s plan to strengthen its central management structure aimed at accelerating growth and furthering synergies between businesses.

Chacko has been with the group for over nine years and is presently president of A+E Networks | TV18, the JV between A+E Networks, US and TV18. He will currently continue to hold responsibility for the venture.

In his new role, Chacko will actively support management teams and leaders across functions in leveraging the network?s diverse strengths, be responsible for creation and management of network-wide properties and institutionalize processes and models that unleash value across the group and its ventures.

He is also mandated with strengthening the business planning and monitoring processes as well as other critical support and staff functions across the group. Additionally, he has been entrusted with the role of being the custodian of ?Brand Network18?.

Network18 founder and editor Raghav Bahl said, "The dynamic nature of the media landscape in India today has necessitated the need to continuously evolve our internal operating environment to align with these changes. We have now embarked on a path of bringing together our various business units in order to successfully ride the opportunity wave and stay focused on returns to shareholders. In Ajay, we entrust the responsibility of strengthening our continued efforts to emerge as ?one? strong network. He has our best wishes and whole-hearted support."

Network18 group CEO B Sai Kumar added, "We?ve invested in and built a great set of brands across multiple platforms over the last decade. This network today, straddles broadcast, e-commerce, digital content and niche print businesses. In the next phase of Network18, we intend to consolidate the strengths of each of these businesses across the network, extract value through unrelenting focus on internal assets and thereby better our offerings to external constituencies all around. Ajay has been key to the success of some of these businesses and in this new role, he will bring his expertise, foresight, operational and people skills to achieve what we?ve set out to accomplish."

Commenting on his new role Chacko added "We have been seen to be a diverse and talented set of people running some of the country?s most successful media brands. I hope to be able to supplement Sai?s efforts to help strengthen the collaboration between our various business units and functions with a view to improve financially as well operationally and emerge stronger as one network."

In his earlier roles at Network18, Chacko has led many of the group?s businesses such as CNBC-TV18, CNBC Awaaz and Forbes India and has been instrumental in their ascendance as market leading media brands in the country. He has also led the group?s efforts in the business media domain as well as the successful launches of key digital properties of Network18.

He has been responsible for the functioning of the JV between A+E Networks & TV18, now a key player in the Indian factual entertainment space with HistoryTV18 emerging as a top tier brand in the genre. Prior to joining Network18, he worked in financial services and media for over a decade. His earlier stints were with IL&FS (Infrastructure Leasing & Financial Services, India) and he has also been a part of the start-up team at Sharekhan. He started his career in the Indian Express Group where he worked in various capacities.

MUMBAI: Taking a digital-first philosophy, the Network18 Group has integrated its publishing and web operations by bringing it under R Jagannathan who will now serve as the Editor-in-Chief of both web as well as the publishing arm.

Jagannathan, who had taken charge of Moneycontrol.com and Firstpost.com at the time of joining Network18 in 2011, will now be additionally responsible for Forbes India and Network18 Publishing.

In his expanded role, Jagannathan will be responsible for leading the editorial strategy and driving content synergies across a bouquet of Network18 Publishing?s news and special interest brands.

Network18 Publishing has a portfolio of 18 B2C and B2B titles which includes Overdrive, Better Photography, Better Interiors, Chip, T3, Search, Auto Monitor, Modern Machine Tools, Chemical World, and Modern Packaging & Design.
Web 18, Network18?s internet and mobile arm, has offerings like in.com, Moneycontrol.com, Firstpost.com, Cricketnext.com, IBNLive.com, and Buzz18.com.

Editors at each of these brands will now report to him with immediate effect.

The Indian media industry has been slowly warming up to the concept of having an integrated editorial room to stay in tune with the changing media landscape with the consumption of content growing steadily on digital media.

The integrated news room works on the ?web first? approach treating digital as the lead medium.

HT Media?s business newspaper Mint had last year integrated its newsroom whereby Mint reporters file all their stories on Livemint.com throughout the day and Mint journalists do exclusive stories and columns for the web and other digital platforms.
Network18 Founder & Editor Raghav Bahl said, "Platform neutrality in publishing is almost a truism now and as one of the country?s largest news and digital players, we?re best placed to lead this broadening trend. It?s critical that our brands access the best expertise across the group while they continue to fulfill their distinct content mandates and they do so through a structure which mirrors the new digital reality. We have entrusted the task of leading this effort in the able hands of Jaggi."

Network18 Group CEO B. Sai Kumar said, ?In Jaggi, we have one of the finest editorial minds in the industry with an unmatched breadth of experience and a proven track record, which includes the stellar performance of our digital brands under his command, Moneycontrol.com and Firstpost.com. We?re confident that in this expanded mandate, he will help us further enhance our editorial product and deepen audience engagement and market leadership."

Jagannathan added, ?Network18 has some of the country?s most loved brands which enjoy the highest levels of trust and credibility with audiences and each represents a unique editorial voice. I look forward to working with the teams to ensure that we strengthen our proposition across platforms."

With a career spanning over 36 years, Jagannathan has been the editor of several print and digital publications across the general and business news space. Prior to joining Network18 Group in 2011, he was the Executive Editor at DNA. Earlier, he was the Executive Editor at Business Standard and he has also been the Editor at Financial Express, Indian Management and Business World.

He was the founding Executive Editor of Business Today in the early 1990s and Business Editor of India Today before that. His first foray into the digital world came when he became Editor at Myiris.com at the height of the first dotcom boom.

MUMBAI: In continuation of its strategy to divest non-core assets, the Network18 Group has said that it has profitably divested its stake in search businesses, Infomedia Yellow Pages and AskMe, to Getit Infoservices.

The terms of the deal were not disclosed. The divestment is subject to shareholders? approval.

Getit Infoservices is India?s leading digital marketing company offering a platform for Local Search, Classifieds, Micro Communities, and Deals. The combined operations of Getit will be referred to as "Getit Infomedia" and will be wholly owned by shareholders of Getit.

Network18 MD Raghav Bahl said, "The divestiture of Infomedia Yellow Pages and Askme, India?s leading local search businesses is a reflection of our commitment to profitably monetise non-core assets for the benefit of our shareholders and to also facilitate the growth of these businesses to the next level. We would like to convey our best wishes to the team as they embark on the next phase of their journey."

The divestment of Yellow Pages and AskMe businesses forms a part of a series of asset monetisation transactions by Network18.

Earlier during the current financial year, Network18 had partially diluted its stake in digital commerce asset, Bookmyshow.com. It had also recently divested its entire stake in Newsire18.

MUMBAI: Network 18 Media and Investments said it has received board?s approval for divesting its stakes in Yellow Pages and AskMe as part of its plan to monetise non-core assets profitably.

AskMe is Mumbai?s leading local search engine which allows online and telephonic search for companies, products and services while Yellow Pages is an online business directory that helps buyers find businesses.

The Raghav Bahl-promoted Network18 had earlier sold its entire 77.5 per cent stake in news terminal business NewsWire18 to private equity firm Samara Capital for Rs 900 million.

Before that the company had divested its 20 per cent stake in entertainment ticketing website Bookmyshow.com to venture capital firm Accel Partners for Rs 500 million. Network18?s stake in the ticketing website?s holding company Bigtree dropped to 40 per cent post the stake sale.

MUMBAI: Raghav Bahl-promoted Network18 is selling its entire 77.5 per cent stake in NewsWire18 to private equity firm Samara Capital for Rs 900 million.

The deal marks the exit of Network18 from the news terminal business and values NewsWire18 at Rs 1.17 billion.

Network18 had incubated the company with the founding CEO Pankaj Aher and his team.

Network18 is pursuing the strategy of divesting its non-core assets profitably to allow greater focus on its core television and digital businesses.

The transaction is expected to add approximately Rs 700 million to Network18?s consolidated pre-tax profit for the current quarter, the company said.

BMR Advisors acted as the sole transaction adviser to Network18.

NewsWire18 will be rechristened over the next 90 days as a result of the transaction.

The divestment of NewsWire18 forms part of a series of asset monetisation transactions by Network18. Earlier during the year, Network18 had sold its stake in one of the Capital18 investee companies ? NetworkPlay and then partially diluted its stake in India?s premier Digital Commerce asset ?Bookmyshow.com.

Network18 MD Raghav Bahl said, "The divestiture of Newswire18, India?s leading financial data and news terminal business is a reflection of our commitment to profitably monetize non-core assets for the benefit of our shareholders and to also facilitate the growth of these businesses to the next level. We are proud to have partnered with NewsWire18 in its journey thus far and are confident that Pankaj and his team will continue to excel and build one of the finest financial data businesses in India."

Commenting on the deal, Network18 Group CEO Sai Kumar said, "In a few short years, NewsWire18 has grown into a leader in its space and we take great pride and pleasure in having written this wonderful growth story. The growth at NewsWire18 is a reflection of Network18?s business building skills and the value that our network eco-system brings to a business. We would like to give Pankaj and his team and Samara Capital our best wishes as they embark on the next phase of their journey."