TV18 to merge ops of CNBC TV18,CNBC Awaaz

However,both channels would continue to maintain distinct identities.

8220;Both channels will continue to maintain their distinct identities 8212; only some of the over-lapping and common operations at the back-end are being merged. The company expects to optimise approximately 20 per cent in annual costs via this restructuring,8221; the company said.

The restructuring would also create the country8217;s largest business news infrastructure spread across eight business bureaus and two broadcast hubs Mumbai and Delhi,it added.

8220;It is our belief that the next stage of growth and profitability of our business news operations will come from a more synergistic entity that combines the strength of two powerful and complementary brands,8221; Network18 Group CEO Haresh Chawla said.

Shares of Television Eighteen India closed at Rs 78.75 on the BSE,up 2.54 from its previous close.