CNN, IBN will not renew partnership, CNN likely to tie up with Zee Media Corp
CNN is said to be looking at Zee Media Corp for a new partnership. Sources indicate no deal has been finalised yet
TV18 and CNN are concluding their partnership of brand sharing (CNN-IBN) . The ten year agreement will come to an end in 2016.
In official statement to Bombay Stock Exchange, TV18 Broadcast Ltd has informed BSE that “TV18 Broadcast Limited ("TV18") and Cable News Network, Inc. ("CNN”) will be successfully concluding their ten year brand licensing and news services arrangement for use of the "CNN" brand and CNN news content in January 2016. The Parties have decided not to renew the arrangement.”
According to media reports, CNN is likely to tie up with Zee for a new innings. Media reports also suggest that Zee Media is in talks with a US company to launch an English news channel.
Sources close to the development also informed exchange4media that the deal has not been finalised yet and CNN is looking for options.
Commenting on the development, 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.”
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. 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."
CNN which runs under the umbrella of Turner Broadcasting System signed a ten year licensing agreement with TV 18 to launch an English channel named CNN-IBN in 2005.
The Network18 Group, is a media and entertainment company with interests in television, internet, filmed entertainment, digital commerce, magazines, mobile content and allied businesses.
Through its subsidiary 'TV18 Broadcast Limited' the group operates news channels - CNBC-TV18, CNBC Awaaz, CNBC Bazaar, CNBC-TV18 Prime HD, CNN-IBN, IBN7, ETV channels and IBN-Lokmat (a Marathi regional news channel in partnership with the Lokmat group).
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