TV18 and CNN have announced that they will be concluding their 10-year licensing arrangement in January 2016 for the channel, CNN-IBN.
Post this, both companies will be allowed to chart their paths independently in India, informed a statement from the networks. There was no mention on what the course of action of each would be.
AP 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 organisation; that has changed now. Network18 has grown from two 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."
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 news-gathering capabilities. We have truly valued this longstanding partnership. 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.“
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