BackTV18, CNN to end 10-year branding deal
TV18 is part of the Network18 group that was acquired by Mukesh Ambani's Reliance Industries last year
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New Delhi: TV18 and CNN will end their 10-year licensing arrangement for the English television news channel CNN IBN in January, the two companies said on Monday.
TV18 is part of the Network18 group that was acquired by Mukesh Ambani’s Reliance Industries last year. CNN, which is owned by the US media group Turner Broadcasting, signed the brand licensing deal with TV18 in 2005.
The conclusion of the arrangement will enable both the companies to chart their own growth trajectories independently in one of the most dynamic, complex and fast growing markets in the world, the release 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," said A.P. Parigi, Group CEO, Network18.
“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," he added.
In the statement, 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."
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