This comes weeks after the two said they are letting their agreement lapse.
“Both parties embark on this new chapter with a determination to refresh CNN IBN and provide a credible, non-partisan service that will deliver the latest news about local affairs and an Indian perspective to international developments,” the Indian company said.
“In this second term of our collaboration, we aim to present a brand new CNN IBN that will bring news with even greater speed, accuracy, clarity and credibility and keep the viewers tuned in to the latest news and developments much ahead of others,” said Adil Zainulbhai, Chairman, Network18.
In June, the Indian company had said that the two parties would let the agreement lapse and that the CNN logo will now be dropped from the CNN IBN branding.
Zainulbhai said the channel will offer an alternative to those who don’t want ‘noisy channels’.
“We also intend to cut through the noise and clutter that is currently present in the Indian television news space and offer best practices of journalism that will lead to better understanding of issues.
“The channel will organize meaningful debates and raise issues that touch the lives of our viewers. With this renewed partnership, we will enhance the process of newsgathering and delivery to our viewers in an informative and enlightening manner.”
CNN-IBN, now owned by Mukesh Ambani’s Reliance Industries, has seen its ratings slip over last couple of years. It lost a lot of talent when RIL took over the company, but has recruited new people as well.
It has also suffered due to increased investments and promotions by India Today, its main competitor. While CNN-IBN had been at the number 2 spot for a very long time, that spot is now taken by India Today.
“We are really excited about the future of CNN IBN and together with the new management at TV18, are going to build upon the success we have already achieved,” said Rani Raad, Chief Commercial Officer, CNN International.
“I look forward to the brand continuing its lead in the dynamic Indian news industry and am delighted that CNN IBN is staying in our family of CNN-branded channels around the world that include CNN Turk, CNN Chile, CNN Philippines, CNN Indonesia and CNN Greece.”