TV18 and CNN will be concluding their 10-year licensing arrangement in January 2016 for CNN IBN. TV18 Broadcast, which is engaged in the production and telecast of news and entertainment programs and CNN have decided not to renew the agreement for the use of the CNN brand and CNN news content.
The conclusion of the arrangement will enable each company thereafter to chart its own growth trajectory independently in one of the most dynamic, complex and fast growing markets in the world.
Rani Raad, Chief Commercial Officer, CNN International said, “We are very proud to have created CNN IBN in our decade long partnership with TV18. The channel was a pioneering initiative that combined the best of CNN’s global expertise with TV18’s journalistic and newsgathering capabilities. We have truly valued this long standing partnership.” He further adds, “As the number one international news brand in Asia Pacific and the rest of the world, and the winner of multiple prestigious awards, CNN International, continues to lead and serve consumers in India with the best of global news content across multi-platforms.“
A.P. Parigi, Group CEO, Network18 said “The last decade has seen a lot of momentum in the Indian media industry and has been particularly exciting for us. During this time we witnessed two media houses coming together to redefine the way news is presented to a demanding audience; we at TV18 have benefited from this relationship with CNN. At the launch of the channel, TV18 was a relatively small organization; that has changed now. Network18 has grown from 2 news channels in 2005 to 17 news channels in 2015. Today, we have the largest footprint in the current affairs, regional and business news space in India. The TV18 line-up of channels today are well established and highly regarded in this dynamic, complex and challenging environment.”