Raghav Bahl, Promoter and Founder of Network18 Group, has decided to exit from the group, along with his wife Ritu Kapur, even as Reliance Industries takes control of the Group.
In an email sent out to the Network18 staff on May 30, 2014, Bahl informed, “Yesterday, Ritu and I effectively ended our entrepreneurial leadership of Network18 by agreeing to exit our shareholding.”
Bahl further said that he will be around to ensure a “smooth transition”.
Welcoming Mukesh Ambani and RIL as the “potential owners of Network18”, Bahl, in his email, said, “Believe us, the Group is in terrific hands. Mr Ambani is a visionary and truly good human being. And we have no doubt that Network18 would soar into the "cloud" under this dispensation.”
“There are thousands of team-mates, both past and present, whose collective ‘tejasvi karma’ has buoyed N18 to where it is today. Our heartfelt gratitude towards all of them,” the email added.
Bahl has been the Controlling Shareholder and Managing Director of Network18. He began his career as a management consultant with AF Ferguson & Co, followed by a stint with American Express Bank, before he launched TV18, his production house. Winner of the Sanskriti Award for Journalism in 1994, he has over 24 years of experience in television and journalism. He founded TV18 (now Network18 Group) in the year 1993.
Bahl is a widely admired entrepreneur and was hailed as a Global Leader of tomorrow by the World Economic Forum. He was also selected by Ernst & Young as Entrepreneur of The Year (2007) for Business Transformation. He has been awarded the AIMA Award for the Media Person of the Year in 2011 and BMA recognised him as Entrepreneur of The Year (2011).
Bahl has been instrumental in crafting successful joint ventures with media giants such as CNBC, NBC Universal, Viacom, Time Warner, Forbes, A&E Networks and GS Homeshopping (Korea).