US CNN renews news channel pact with TV18... now under Mukesh

TV18, the television broadcast network of billionaire Mukesh Ambani, on Tuesday announced renewal of branding partnership between its news channel IBN and Turner Broadcasting System Inc's CNN.

IBN and CNN had in October 2005 entered into a 10-year brand licensing agreement. In late June this year, the US broadcaster said the tie-up will cease to exist from January 5, 2016. TV18 and CNN said they are extending their collaboration on CNN-IBN.

"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," TV18 said in a statement. Refusing to disclose the tenure of the renewal, an official said, "We are bound by contractual confidentiality and are not in a position to share these details of our agreement but let's be clear, it is not a short-term-agreement."  The agreement remains the same two-fold, brand licensing and content sharing partnership. The editorial control and the day to day running of the channel will remain as before with the editorial team at CNN-IBN. "However, CNN and TV18 will work more closely than ever before. There would be closer collaboration and sharing of resources with a view to refreshing the channel in a significant way," he said.

CNN will provide all and every resource and knowledge support on CNN-IBN including but not limited to, full content access, multi-platform editorial expertise, technology and engineering to ensure the continued success of the brand in India. Its International Content Sales and Partnerships Group is a division undertaking greater strategies with an aim to bring the best of CNN content.