Media conglomerate Television Eighteen India said it is restructuring broadcasting operations of two of its business news channels - CNBC TV 18 and CNBC Awaaz,a move aimed at optimising operational costs. The company has decided to merge the broadcasting operations both the channels which would include logistics,back-end and broadcast operations,TV18,a group company of Network 18,said in a filing to the Bombay Stock Exchange. However,both channels would continue to maintain distinct identities. "Both channels will continue to maintain their distinct identities - 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," the company said. The restructuring would also create the country's largest business news infrastructure spread across eight business bureaus and two broadcast hubs (Mumbai and Delhi),it added. "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," 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.
