Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 : Cessation of Eenadu Television Private Limited as an associate of the Company
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Network18 has assigned its voting rights on its 24.5% stake in Eenadu Television Private Limited (ETPL) to ETPL's promoter, causing ETPL to cease being classified as an associate of Network18. This move was made in line with conditions arising from the CCI's August 2024 approval of the Viacom18 (now Studio18) and Star India (now JioStar) merger. Network18 has retained the full economic interest in the 24.5% equity holding, meaning the investment itself has not been sold. ETPL contributed 32.61% of Network18's consolidated net worth as of March 31, 2025, but the company has stated there will be no reduction in consolidated net worth because the investment will now be fair-valued under accounting standards. The assignment agreement was executed on July 7, 2025.
Shareholders should note that despite losing 'associate' status, Network18 retains its full economic stake in ETPL, so net worth remains unchanged. The change is driven by a regulatory condition of the Viacom18-JioStar merger and signals a restructuring of the group's inter-company relationships, with no immediate cash inflow, outflow, or change in shareholder value.