3 days ago
Network18 assigns voting rights in Eenadu Television, ETPL ceases to be an associate
By Aditya Bhagchandani Published on July 7, 2025, 22:26 IST
Network18 Media & Investments Limited announced on Monday, July 7, that Eenadu Television Private Limited (ETPL) has ceased to be an associate of the company following the assignment of its voting rights in ETPL.
In a regulatory filing, Network18 stated that in line with the Competition Commission of India's order dated August 27, 2024, approving the merger of the entertainment businesses of Viacom18 (now Studio18 Media) and Star India (now JioStar India), the company has assigned its voting rights on its 24.5% stake in ETPL to ETPL's promoter.
While Network18 continues to hold the economic interest in the 24.5% equity shares, it no longer exercises voting control, resulting in ETPL no longer being considered an associate company under applicable regulations.
The company clarified that the promoter of ETPL is not part of Network18's promoter or promoter group, and the transaction does not qualify as a related party transaction.
As of March 31, 2025, ETPL contributed 32.61% of Network18's consolidated net worth, but the company noted that there will be no reduction in its consolidated net worth, as the investment in ETPL will now be recorded at fair value in accordance with accounting standards.
The assignment agreement was executed at 2:06 PM IST on July 7, 2025.
The disclosure was signed by Shweta Gupta, Company Secretary & Compliance Officer.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
