Mumbai, 31st January: Indian media group, Network18, the largest shareowner of the Infomedia B2B group, announced its financial results for the quarter ended 31st December 2008. Revenues were US$46 million, a 21% increase over the same quarter in 2007. The company claimed that all of its key businesses, including film, Internet, home-shopping, search, directories and newswires posted solid growth. Despite the growth, Network 18 recorded a net loss of just over US$9 million compared with a net profit of US$4 million in the same quarter in 2007.  Raghav Bahl, Managing Director, said, “The October-December quarter saw the benefits of Network18’s ‘diversified media’ strategy come into bold relief. Our entertainment operations… and the filmed entertainment business, saw a spectacular growth, bucking any trends of slowdown.”  Sources: Network18 financial announcement, Exchange4media article

BIIA Newsletter March 2009 Issue