Top Story


Home >> Media - TV >> Article

IL&FS facilitates Global Broadcast News to raise Rs 400 million for CNN-IBN

Font Size   16
IL&FS facilitates Global Broadcast News to raise Rs 400 million for CNN-IBN

When Global Broadcast News (GBN) in a co-branding agreement with Turner International launched the general news channel, CNN-IBN, on December 17, 2005, there was no doubt that the network will be strongly pushing the new channel. In order to keep the channel in high spirits, GBN has raised Rs 400 million in partnership with IL&FS Investment Managers Ltd (IIML).

IL&FS has announced the conclusion of a Rs 400 million private equity-financing round through its Leverage India Fund for CNN-IBN. “News channels are an attractive segment of the Indian television market with the genre growing exponentially. We strongly believe that CNN-IBN with its high quality news is well positioned to become a leader in this segment. We are happy to be part of this venture and back an experienced promoter team,” said Shahzaad Dalal, Vice-Chairman and Managing Director, IL&FS.

It may be recalled that in June 2005, the TV18 group had also raised Rs 55 crore to fund the new channel. The TV18 board had announced that it would consider a proposal to advance the date of outstanding warrants issued by the way of a rights issue in November 2004. The warrants consisted of two categories – Series A and B, with conversion periods of 18 months and 36 months, respectively. Each warrant was thus converted into one ordinary share of TV18 at a discount of 25 per cent to the prevailing market price.

Raghav Bahl, Director, GBN, said, “The support and funding that we have received from a strong investor like IL&FS puts GBN in a strong spot to build on its growing leadership position within the Indian broadcasting industry. We are delighted with the response CNN-IBN has received and this fund will be used for investments towards the channel’s expansion.”

This is indeed a timely move just ahead of the impending launch of another news channel, Times Now, as these funds will enable the channel flex its marketing muscle.


Arati Singh, Channel Head, NDTV Good Times, opens up on how she loves to go on adventurous trips on a typical weekend.

In week 9 of BARC ratings, the channel led the lifestyle space with 1206 million impressions followed by TLC, FYI TV18, Food Food and Fox Life

During his brief visit to India, Ronen Mense, Vice- President- Asia, AppsFlyer, spoke to exchange4media about app marketing and the new trends one can witness in mobile marketing.

Neha Kulwal, CEO, Admitad, talks about the future of affiliate marketing and the company's growth over the years

SEBI (Securities and Exchange Board of India,) imposed the fine for delayed disclosures under the Listing Agreement and the Insider Trading Regulations

Under BN Kumar’s leadership, PRCI held several successful global conclaves, brought out highly professional house journals and conducted international award winning social communication campaigns

At the 10th Pitch CMO Summit, marketers discussed the challenges of interfacing with the digitally empowered consumer.