Lakshmi Narasimhan, previously CEO, Magazine Publishing Business, Infomedia, a subsidiary of the Network18 group, has been appointed as the Chief Executive Officer of the group’s Internet and mobile arm Web18. Web18 runs portals including Tech2.com, In.com, BizTech2.com, CompareIndia, Indiwo, Buzz18, Mobile18 and print division Infomedia18.
Former Web18 CEO Surya Mantha confirmed the news to MediaNama and informed us that he is moving to a network role, as Executive Director at Network18, looking into convergence of all Network18 properties.
Prior to becoming the CEO of Magazine Publishing at Infomedia in May 2008, Narasimhan headed business development for Network18 and also held responsibility for revenue maximisation at Web18. He was also involved in the setting up of Sports18 and Synergy 18. Synergy18 handles private treaty deals for the group.
Before Network18, Narasimhan was a national director of the central trading group with Group M (the media arm of WPP), according to the Network18 website. Narasimhan started off his career with HTA (now re-christened J.Walter Thompson) as a Media Planner. He was part of the team which started up HTA Fulcrum, the AOR for Unilever in Indi a in 1995. Post his stint with Madison as head of the Coca Cola AOR, he returned to HTA in late-2000 as head of buying on the Unilever business.
Recent Developments At Network18
Dec 16: Surajit Agarwal joined Web18 as Managing Editor of Tech2.com, Compareindia.com and Chip India and Arunava Sinha joined as Head of IBNLive and CricketNext (read)
Dec 16: Infomedia’s acquisition of Burrp in March cost Rs. 4.25 Cr (read)
Dec 12: Web18 underwent a restructuring exercise, cut jobs (read)
Nov 23: Network18 merged broadcast operations of TV18’s two business news channels CNBC TV18 and CNBC Awaaz, hoped to cut operational losses b 20% (read)
Nov 13: HomeShop18 raised $23.5 million (read)