- 07 Dec 2023
- ICICI Securities
TV18, E18 TO MERGE WITH NETWORK18
TV18BRDCST - 45 Change: 2.86 (6.74 %)News: TV18 Broadcast Limited (TV18) announced a scheme of arrangement in terms of which TV18 and e-Eighteen.com Limited (“E18”, which owns and operates MoneyControl website and app) will merge with Network18. Shareholders of TV18 Broadcast will get 100 shares of Network18 for every 172 shares held in TV18, and E18 shareholders will get 19 shares of Network18 for every 1 share held in E18.
Views: The proposed scheme will consolidate TV and digital news businesses of the Network18 group in one company. The merged entity will comprise of the TV portfolio of TV18 (20 news channels in 16 languages and CNBCTV18.com), Digital assets of Network18 (News18.com platform across 13 languages and Firstpost) as also MoneyControl website and app. Viacom18 with its portfolio of JioCinema and 40 TV channels will also be a direct subsidiary of Network18. Network18 will continue to hold its investment in BookMyShow.
Impact: Neutral