As Reliance Industries Limited takes over Network18, its Founder and Editor Raghav Bahl and his wife Ritu Kapur step down
BestMediaInfo Bureau | Delhi | May 30, 2014
In an email message sent to Network18 employees today, its founder and editor Raghav Bahl announced his exit from the company. In the emotional communication titled ‘God bless Network18’, Bahl said, “Yesterday, Ritu and I effectively ended our entrepreneurial leadership of N18 by agreeing to exit our shareholding (although I would be around to ensure a smooth transition.”
It may be recalled that yesterday, Mukesh Ambani’s RIL promoted ‘Independent Media Trust’ initiated the process to take complete control over N18 including its subsidiary TV18 and Infomedia Press. In his message, Bahl assured his colleagues that the company is going in safe hands. “We are also delighted to welcome Mr Mukesh Ambani and RIL as the potential owners of Network18. Believe us, the Group is in terrific hands. Mr Ambani is a visionary and truly good human being. And we have no doubt that Network18 would soar into the "cloud" under this dispensation. All of you have very good cause to be excited and optimistic about the future,” said Bahl.
Thanking his all the former and present colleagues in the entrepreneurial journey, Bahl said, “There are thousands of team-mates, both past and present, whose collective tejasvi karma has buoyed N18 to where it is today. Our heartfelt gratitude towards all of them! (We would like to make a special mention of our very own Vandana, who was the first manager-cum-driver-cum-lights"man" of TV18 in the early 90s).”
“Wish us well as we embark on our next quest - we are, as usual, utterly positive about the future. God bless you, and God bless Network18,” concluded Bahl.