MUMBAI: Cell18 CEO and Network18 group creative director Zubin Driver has quit the company to pursue his interests in theatre, arts and cinema.

Driver will be setting up his own theatre company along with a separate production house for creative content catering to all platforms like TV and films.

Driver has over 22 years of experience in the advertising, theatre and film industry. Being the creative director of Network18 for the last 11 years, he has played a vital role in setting up and running the creative teams for five news channels and History18.

He began his career with Everest Branding Solutions as a copy trainee and later joined O&M as a copywriter. He has also worked with agencies like Madison DMB&B, Lowe-Lintas & Partners and TBWA.

MUMBAI: Former Network18 Group CEO Haresh Chawla will be joining India Value Fund Advisors (IVFA), as India partner.

Chawla will be joining the private equity firm on 1 June. He will be responsible for building and scaling up businesses owned by IVFA across sectors, as well as leading media and entertainment investments at the private equity firm.

IVFA managing partner Vishal Nevatia said, "Haresh brings with him unique experience, having built several world-class brands in the media and entertainment space. He blends professional management with entrepreneurial drive and the combination will be invaluable in helping IVFA scale up and further build our portfolio of businesses."

IVFA controls MBPL, the company which operates FM radio station under the Radio City brand, and Bangalore-based MSO Atria Convergence Technologies. The fund has exited from its two earlier media investments, Shringar Films and DQ Entertainment.

IVFA?s other investments include Meru Cabs, RDC Concrete, InLogistics, Mahindra Hinoday,DM Healthcare and RoboSilicon, amongst others.

On his new role Chawla added, "IVFA is a uniquely positioned firm that not only infuses capital but also the mindset and strategic management thinking, that is required to scale up mid-sized businesses into large professionally-run enterprises. This operating model was particularly appealing to me as a chance to leverage my experience in building up businesses and helping management teams perform to their true potential."

Under Chawla?s leadership, Network18 grew from a single business news channel (CNBC-TV18) and solitary portal (Moneycontrol.com), with revenues of Rs 150 million in 1999, to a diversified media group with revenues in excess of Rs 25 billion in 2011. His previous assignments have all been with start-ups including the HCL Group, where he headed business development for HCL Comnet; ABCL, where he set up the Film Distribution Business, and at the Times of India Group where he launched their music label - Times Music.

NEW DELHI: Network18?s proposal to get foreign direct investment (FDI) for publish business has been deferred by the Foreign Investments Promotions Board (FIPB).

The FIPB has also put on hold Cellcast Interactive India?s proposal to set up three non-news and current affairs television channels in Hindi, Tamil and Telugu in India. Recently, Cellcast launched social TV channel, MyTV.

In toto, FIPB has deferred five proposals relating to the Information and Broadcasting sector. Three of these relate to publishing. Apart from Network18 Media & Investment?s proposal, the others include Packt Publishing, Mumbai, to carry out the business of writing, editing, summarising, compiling, printing, publishing, buying, selling, importing, exporting, circulating or otherwise dealing in books publication and any other information or data pertaining to all areas and sectors such as computer and information technology; and Reed Elsevier India to undertake the additional activity relating to the business of publishing and co-publishing (in and outside India), including digital publishing, printing, reprinting, adaptation, article reprinting, repackaging, translation, distribution of scientific, technical, medical, specialty and research journals/magazines/periodicals in any media including print media.

Two proposals relating to television were also deferred. One was from Catvision Limited, Noida, to increase foreign equity participation to carry out the business of manufacture of CATV equipment, selling CATV equipment like dish antenna, other CATV equipment, cables, energy management equipment and repair of apparatus for television transmission, other business services.

The FIPB, however, approved the proposal from Fine Publishing India. The company has been permitted to induct foreign equity to the extent of Rs 500,000 to carry out the business of publishing specialty/technical magazines covering the subject of wine and champagne.

Jeevan Telecasting Corporation has been given permission for post-facto approval to ratify NRI investment but this does not involve any foreign direct investment.

However, in one case, the Ministry has reiterated an earlier decision. This relates to Wolters Kluwer for expansion of business by purchasing the assets of the companies engaged in business of publishing and distribution of journals and other publications in print form as well as in electronic form involving an FDI component of Rs 304.5 million.

MUMBAI: The Network18 Group has announced elevation of B Saikumar as its Group CEO. Saikumar, 37, replaces Haresh Chawla who recently quit.

In his new role, Saikumar will be responsible for the strategic and operational management of the Network18 Group. He would have direct responsibility of the Group?s News, Web, Publishing, Factual Entertainment and allied businesses which would include the IBN General News Network, CNBC TV18/ Awaaz Business News Network, Web18, Yellow Pages, Forbes India, AETN18 and the niche magazine stable among others.

Saikumar will also shortly be joining the Boards of Viacom18 and HomeShop18. The current CEOs and Management Teams of Viacom18 and HomeShop18 will continue to report to their respective Boards.

The company said that Network18 founder and editor Raghav Bahl is expected to step up engagement with the management teams of Viacom18 and HomeShop18 and Saikumar will be working closely with him on both of these businesses.

Bahl said, ?Haresh has led Network18 with extraordinary distinction in the first phase of our growth and identity. Now, as we gear up for our most ambitious phase yet, I am convinced that Sai (or ?B Saikumar? as the world knows him, formally) has the inclusive skills and mature leadership that are needed to get us there - he has our best wishes and our wholehearted support.?

Prior to this development, Saikumar was serving as Group COO and was responsible for leading management teams across Group companies apart from being a core member of Network18?s Business Strategy Team. Through his decade long stint, he has been responsible for providing ?operational leadership? and enabling ?stellar organic growth across the Group?s market leading brands?, the company said.

He has also played an integral role in the various inorganic forays of the Group across businesses.

Chawla said, ?I am absolutely delighted to handover the mantle to Sai, who has worked very closely with me for over a decade, as we built the Network18 franchise. He has seen the Network grow from its very early days across various businesses, which has given him a width of experience that is tough to find in the media business. He is an accomplished leader and a true people?s person and I have no doubt that he?ll take the legacy forward to even greater heights. I will always be available to him as a friend and mentor and wish him success.?

Saikumar added, ?It?s an honour to lead this world-beating team at Network18. The next phase of growth promises to be exciting and I look forward to it. Building upon the inspiring legacy left behind by Haresh, we have some very ambitious dreams for the future and we intend to see each one of them fulfilled.?

Saikumar will be reporting into Bahl in this new capacity. Prior to joining the Network18 Group in 2000, Saikumar was with the Times of India Group, where he worked with Times Music and Times FM.