Manchanda quits IBN18 as Joint Managing Director; Raghav Bahl resigns from the board of directors of Den Networks.
BestMediaInfo Bureau | Delhi | October 25, 2010
Raghav Bahl and Sameer Manchanda have decided to part ways after five years of association. Sameer Manchanda has stepped down from IBN18 as Joint Managing Director. Also, Raghav Bahl, the promoter of IBN18 has resigned from the board of directors of Den Networks which is promoted by Sameer Manchanda.
Both Raghav Bahl and Sameer Manchanda were holding equity shares in each other's ventures. Bahl was holding 7.55 per cent in Den while Manchanda had 4.51 per cent stake in IBN18.
Five years ago, Sameer Manchanda left NDTV as CFO and brought Rajdeep Sardesai along with him to form IBN18 with Raghav Bahl, the founder of Network18. IBN18 runs CNN-IBN, IBN7 and IBN Lokmat.