Network18 has announced that Eenadu Television Private Limited (ETPL) has ceased to be its associate company following a transfer of voting rights, though the media conglomerate continues to retain economic interest in ETPL’s equity.

According to a disclosure made by Network18 to the Bombay Stock Exchange (BSE) under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the move is in line with an undertaking given by the company and pursuant to the Competition Commission of India’s order dated August 27, 2024. The order had approved the combination of the entertainment businesses of Viacom18 Media Private Limited (now Studio18 Media Private Limited) and Star India Private Limited (now JioStar India Private Limited).

In compliance with that directive, Network18 has assigned its voting rights on the 24.5 percent equity it holds in ETPL to the promoter of ETPL. As a result, ETPL no longer qualifies as an associate of the company. The promoter to whom the rights were assigned is not part of Network18’s promoter or promoter group, and the transaction does not constitute a related party transaction, the filing clarified.

As of March 31, 2025, ETPL contributed 32.61 percent to Network18’s consolidated net worth. However, the company has stated that there will be no reduction in its consolidated net worth due to this development, since the investment in ETPL will now be accounted for through fair valuation as per applicable accounting standards.

The assignment of voting rights and change in associate status signals the company’s alignment with regulatory directions in the evolving media landscape, particularly in light of major consolidations like the Viacom18–Star India merger.

While relinquishing operational control, Network18 has chosen to maintain its economic exposure to ETPL’s business, suggesting continued financial interest in the regional broadcaster’s growth trajectory.