3. CNBC-TV18INDIA'S NO 1 BUSINESS MEDIUM CNBC-TV18 is India's No.1 business medium and the undisputed leader in business news. The channel's benchmark coverage extends from corporate news, financial markets coverage, expert perspective on investing and management to industry verticals and beyond. CNBC-TV18 is currently available in over 30 million households in India.
4. CNBC-TV18 Broadcasting group Network 18 said it was merging the operations of business news channels CNBC-TV18 and CNBC Awaaz to save on costs. This move will realize significant cost synergies between the operations, and about 12% permanent positions in the company would be rendered surplus.
5. Effect of merger There are 1,100 employees in the two channels, number of job losses at 132 because of this merger. 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. The firm will save around Rs65 crore a year on operational costs and interest
6. Network18 Network18, one of India's biggest media conglomerates, is re-organizing the business broadcast operations of TV18, a group company. The company expects to save approximately 20 per cent in annual operating costs via this restructuring. This move follows the commitment under the TV18 rights offer to shareholders on the repayment of more than Rs300 crore of debt.
7. The savings on interest and operational costs will lead to total reduction of approximately Rs65 crore in annual costs. The restructuring would create the country's largest business news infrastructure, spread across eight business and two broadcast hubs (Mumbai and Delhi) Both moves will help the company return to better operating margins and profitability.
8. Shares of Television Eighteen India closed at Rs 78.75 on the BSE, up 2.54 from its previous close. annual report summery OPERATIONS 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). Data from - The audited consolidated financial statements for the financial year ended March 31, 2010 form part of the Annual Report.
