Network 18 has decided to ameliorate the business strategy for Television 18. TV 18 as it is popularly known has two channels CNBC TV18, the English business news channel, and CNBC Awaaz, the Hindi business news channel.
Network 18 has announced that it would combine both the channels in the logistics, back-end and broadcasting departments. However, both the channels would continue to maintain their distinct identities.
According to Haresh Chawla, Group CEO of Network18, “CNBC TV18 and CNBC Awaaz have their distinct positions in the English and Hindi speaking markets, respectively. We believe that further growth and profitability will come from the combination of the two brands, strengthening TV18 in operating as well as financial terms.”
Thanks to this move, TV18 will garner eight business bureaus and two broadcast hubs, namely Mumbai and Delhi. As a result of the restructuring, the company expects to optimize approximately 20 per cent in annual operating costs.