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Breaking News : Network18 to sell entire stake
Network18 to sell entire stake in NewsWire18 to PE firm for Rs 900 mn

Raghav Bahl-promoted Network18 is selling its entire 77.5 per cent stake in NewsWire18 to private equity firm Samara Capital for Rs 900 million.

The deal marks the exit of Network18 from the news terminal business and values NewsWire18 at Rs 1.17 billion.

Network18 had incubated the company with the founding CEO Pankaj Aher and his team.

Network18 is pursuing the strategy of divesting its non-core assets profitably to allow greater focus on its core television and digital businesses.

The transaction is expected to add approximately Rs 700 million to Network18’s consolidated pre-tax profit for the current quarter, the company said.

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