Financial Daily from THE HINDU group of publications
Thursday, Jan 19, 2006
Financial Daily from THE HINDU group of publications Thursday, Jan 19, 2006 |
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Marketing
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Outlook IIML raises Rs 40 cr for CNN-IBN Our Bureau
Mumbai , Jan 18 IL&FS Investment Managers Ltd (IIML) have announced the conclusion of a Rs 40-crore private equity-financing round through its Leverage India Fund, for CNN-IBN, the general news broadcast channel launched by Global Broadcast News (GBN), a TV18 group company in a co-branding agreement with Turner International. "News channels are an attractive segment of the Indian TV market with the genre growing exponentially. We strongly believe that CNN-IBN with its high quality news is well positioned to become a leader in this segment. We are happy to be part of this venture and back an experienced promoter team," said Mr Shahzaad Dalal, Vice-Chairman and Managing Director, IIML "The support and funding that we have received from a strong investor like IIML puts GBN in a strong spot to build on its growing leadership position within the Indian Broadcasting industry," said Mr Raghav Bahl, Director, GBN.
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