Following this, the boards of both the companies proposed a restructuring which received approval from the shareholders. In the financial year 2005–2006, TEIL supplemented its initial investment with an additional ₹39.10 crore (equivalent to ₹41 crore or US$5.2 million in 2020) in SGA News for common stocks. CNBC Awaaz was launched on 13 January 2005. In the financial year 2004–2005, TEIL invested ₹25 crore (equivalent to ₹26 crore or US$3.3 million in 2020) in SGA News for preferences stocks. In response to the new regulations the joint venture with CNBC was discarded and the partnership converted into a content branding and franchise agreement. In the meantime, the government introduced a 26% foreign equity cap in the news broadcasting industry. The company raised ₹5 crore (equivalent to ₹5.3 crore or US$660,000 in 2020) through two batches of investments from the two promoters in March 2003 and in January 2004, and then incorporated a subsidiary called SGA News. In 2003, SGA Finance was acquired by Ritu Kapur and Raghav Bahl, in to order to launch the channel and Bahl became its managing director. Production truck of CNBC Awaaz on the street (2006). The guidelines required the Indian promoters to have more than 51% stake in their company to be able to establish a new uplink for broadcasting.
TEIL was in a joint venture with CNBC since 1998, and the news channel to be launched was called CNBC Awaaz. The company was in the middle of preparations to launch a Hindi business news channel but could no longer meet regulatory guidelines.
This decreased the promoters' stake in the company from 75% to 26.11% by 2002 causing complications. The investments through the IPO exceeded the target set by the company by a magnitude of over 50 times by the end of the year, raising ₹2,511 crore (equivalent to ₹27 billion or US$330 million in 2020) in the process. The news broadcasting company Television Eighteen (TEIL) founded by Ritu Kapur and Raghav Bahl, became a public limited company in 1999 and its initial public offering (IPO) received an overwhelming response. The company had remained inactive without any clear prospects until it was later acquired by the promoters of Television Eighteen India Limited. SGA Finance and Management Services was incorporated on 16 February 1996, as a private limited company by Geeta and Rakesh Gupta and acquired soon afterwards by Vidya Devi and Anil Jindal. History 1996–2007: Acquisition and restructuring 1.4 2014–Present: Reliance Industries era.1.3 2011–2014: Takeover by Reliance Industries.1.2 2007–2011: Expansion, consolidation and increasing debt.1.1 1996–2007: Acquisition and restructuring.The agreement eventually enabled a hostile takeover of the company in 2014. In 2012, the company entered into a debt agreement with Reliance Industries, through which it was granted a number of channels from the ETV Network. It oversaw one of the largest collections of media properties in India following its conversion but became encumbered with debt due to aggressive expansions. Incorporated in 1996 by Geeta and Rakesh Gupta, the company was acquired by Ritu Kapur and Raghav Bahl to be converted into a conglomerate holding company between 20. The broadcasting subsidiary TV18 is the controlling partner in two mass media joint ventures, Viacom18 and AETN18, through which it operates the OTT platforms of Voot, the production house Viacom18 Studios, the television networks of Colors TV, Nickelodeon India, Comedy Central India, VH1 India, MTV India and the channel History TV18. Through its subsidiaries and franchise licensing agreements, the group owns and operates the news broadcasting networks of News18, ETV and CNBC channels in India, the magazines of Forbes India and Overdrive, the websites of Firstpost and Moneycontrol, and owns various other assets and investments.
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Network18 is the holding company of TV18 Broadcast, Web18 Software Services, Network18 Publishing and Capital18. Rahul Joshi is the managing director, chief executive officer and group editor-in-chief of Network18, and Adil Zainulbhai is the chairman of its board of directors. Network18 Media & Investments Limited, (formerly SGA Finance and Management Service and Network18 Fincap Limited) commonly referred to as the Network18 Group and sometimes as the Network18–Eenadu Group, is an Indian media conglomerate owned by the energy giant Reliance Industries, headed by billionaire Mukesh Ambani.
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