TV 18, CNN to end 10 years of partnership

Media firm TV18 Broadcast Ltd and Cable News Network (CNN) will end their 10-year partnership in January next year, reported PTI.

In a filing to the Bombay Stock Exchange, TV18 Broadcast, which operates English news channel CNN-IBN, said the company and CNN "will be successfully concluding their 10-year brand licensing and news services arrangement for use of the CNN brand and CNN news content in January 2016".

It further said: "The parties have decided not to renew the arrangement."

Now both the companies will plan their own growth trajectories independently in one of the most dynamic and fast growing markets in the world.

Global Broadcast News (GBN), a TV18 group company, had signed a branding agreement in 2005 with CNN Turner International. It led to the launch of English news channel CNN-IBN in India.

GBN later on transformed into IBN18 Broadcast Ltd, which in turn became TV18 Broadcast Ltd.

In the biggest ever deal in the Indian media industry, Mukesh Ambani-led Reliance Industries (RIL) acquired control of Network 18 Media & Investments Ltd last year, including its subsidiary TV18 Broadcast Ltd, for Rs 4,000 crore through Independent Media Trust (IMT).
(Image: Indiatimes)