IBN18 Broadcast Ltd is an Indian based company, which is in the business of broadcasting, telecasting, relaying and transmitting general news programs. The company owns and operates 24-hour news channel CNN IBN and IBN 7. The principal operation of the company is in media and entertainment industry, and to explore business opportunities in the media and entertainment industry.
The internet news portal, www.ibnlive.com, serves as the online platform for the company. News broadcast on CNN IBN is put up in text and other interactive formats on the site. ibnlive provides streaming video feeds, downloadable tickers and breaking news alerts on cell phones ensuring that viewers have access to CNN IBN's news even when they aren't near their TV sets. The ibnkhabar.com is the Hindi online platform for IBN7, and has a role similar to what ibnlive.com plays for CNN IBN.
IBN18 Broadcast Ltd was incorporated on June 6, 2005 as Global Broadcast News Pvt Ltd. Subsequently, the company became a public limited company on December 12, 2005 and the name of the company was changed to Global Broadcast News Ltd. Further, the name was changed to IBN18 Broadcast Ltd with effect form May 15, 2008.
In June 2005, the company received permission from the MIB to uplink an English news television channel. In October 2005, they executed brand license agreement with CNN and news services agreement with Turner and in December 2005, they launched the 24-hour English news channel, CNN-IBN.
In July 18, 2008 the company entered into a share subscription agreement with Web 18 Holdings Ltd in which the company agreed to subscribe to 3,861,250 equity shares constituting 15% of the issued and paid up capital of Web 18 Holdings Ltd. In July 31, 2006 the company entered into a business transfer agreement with Web 18 Software Services Ltd in which the company sold, transferred, assigned and conveyed the news portal business including the brand, domain, goodwill, assets, contracts, employees and permits and licenses as a going concern. Also they entered into a share purchase agreement with Tadcaster Holdings Ltd in which the company transferred 169,100 equity shares of Web 18 Software Services Ltd to Tadcaster Holdings Ltd, which is a wholly owned subsidiary of Web 18 Holdings Ltd.
During the year 2006-07, the company entered the Hindi news space by acquiring a strategic stake in the holding company of the erstwhile Channel 7, Hindi language news and current affairs channel. The channel was re-branded as IBN7 and re-launched with improved programming, visuals and graphics. Post re-branding. Also the company raised Rs 105 crore through an Initial Public Offering (IPO) using the book - building route. The issue received an overwhelming response from investors and was oversubscribed nearly 50 times.
During the year 2007-08, the company forayed in the regional news space through the joint venture with Lokmat Group and launch IBN Lokmat, a 24 hour Marathi language news channel. Also they entered the Entertainment space through Viacom18 Media Pvt Ltd, a joint venture with the US media & entertainment conglomerate Viacom Inc. Viacom18 launched a Hindi General Entertainment Channel called 'Colors' in July 2008 to tap the immense potential of the genre.
In December 2007, the company acquired 10.01% stake in Jagran TV Pvt Ltd from New Vernon Private Equity Ltd. Also, they acquired 100% equity stake in RVT Media Pvt Ltd and thus the company became the wholly owned subsidiary with effect from January 1, 2008.
The company entered into a scheme of arrangement with BK Fincap Pvt Ltd and Jagran TV Pvt Ltd for consolidation of IBN-7 Channel with the company. They also announced the merger of IBN7 within themselves by acquiring the stake held by their partners in the joint venture.