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CNBC and TV 18 operation merger


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CNBC and TV 18 operation merger

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  2. 2. CNBC-TV18 <br />BY<br />Abhishek rane<br />Roll no.39<br />
  3. 3. CNBC-TV18INDIA'S NO 1 BUSINESS MEDIUM<br />CNBC-TV18 is India's No.1 business medium and the undisputed leader in business news. <br />The channel's benchmark coverage extends from corporate news, financial markets coverage, expert perspective on investing and management to industry verticals and beyond.<br /> CNBC-TV18 is currently available in over 30 million households in India.<br />
  4. 4. CNBC-TV18 <br />Broadcasting group Network 18 said it was merging the operations of business news channels CNBC-TV18 and CNBC Awaaz to save on costs.<br />This move will realize <br />significant cost synergies <br />between the operations,<br /> and about 12% permanent <br />positions in the company<br />would be rendered surplus.<br />
  5. 5. Effect of merger <br />There are 1,100 employees in the two channels, number of job losses at 132 because of this merger.<br />Those rendered jobless by the move, which will merge the logistics and back-end operations of the two channels, are being offered an average severance payment amounting to at least three months’ salary. Some will move from direct employment to being freelancer.<br />The firm will save around Rs65 crore a year on operational costs and interest<br />
  6. 6. Network18<br />Network18, one of India's biggest media conglomerates, is re-organizing the business broadcast operations of TV18, a group company.<br />The company expects to save approximately 20 per cent in annual operating costs via this restructuring.<br />This move follows the <br />commitment under the TV18 <br />rights offer to shareholders <br />on the repayment of more <br />than Rs300 crore of debt. <br />
  7. 7. The savings on interest and operational costs will lead to total reduction of approximately Rs65 crore in annual costs.<br />The restructuring would create the country's largest business news infrastructure, spread across eight business and two broadcast hubs (Mumbai and Delhi)<br />Both moves will <br />help the company <br />return to better operating <br />margins and profitability.<br />
  8. 8. Shares of Television Eighteen India closed at Rs 78.75 on the BSE, up 2.54 from its previous close. <br />annual report summery<br />OPERATIONS<br />During the year under review, the Company achieved a turnover of Rs. 276.91 (Previous Year Rs. 287.71 crores) and EBDIT of Rs. 98.95 (Previous Year Rs. 132.44 crores).<br />Data from - The audited consolidated financial statements for the financial year ended March 31, 2010 form part of the Annual Report.<br />