Media conglomerate TV18 group on Thursday said it has floated a new division, E18, to enter the entertainment and information events space.
The new unit, christened E18 and to be housed under the group's listed holding firm Network 18, will conceive and execute large format business and entertainment conferences, conclaves and seminars.
"E18 will try and dominate the live entertainment space by leveraging the various media brands owned and managed by TV 18 Group. It will also conceptualise and stage large format events such as concerts by international artistes, Bollywood shows, award nights in India and around the region," Network 18 said in a communique to the Bombay Stock Exchange (BSE).
The group has appointed Farhad K Wadia as the Chief Executive Officer for the new operation. Farhad has 24 years of experience in entertainment, events and marketing promotions and has staged over 300 events across the world, it added.
The TV18 group recently announced a joint venture with US-based Viacom for general entertainment in India. The JV, named Viacom 18, will have presence in television, film and digital media content across numerous brands.
The Raghav Bahl-promoted group has been of late actively pursuing interests across different sectors and recently launched an outsourcing firm - Source 18 - alongwith Infosys BPO to provide services to media and entertainment companies globally.
Shares of Network 18 were last trading at Rs 467, up 0.3 per cent on the BSE.