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Web18 Appoints Durga Raghunath As CEO Of Firstpost.com


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Durga-RaghunathNetwork18’s content arm Web18 has appointed Durga Raghunath as CEO of Firstpost.com, reports Afaqs. Raghunath had joined the Network18 group two and a half years ago as VP, product and executive news producer for Web18, and was instrumental in the conceptualization and launch of Firstpost. Prior to joining Network18, she was with The Wall Street Journal as India Editor (mobile services and digital product development), before which she was the Managing Editor of Livemint.com, the website for HT Media’s financial daily Mint. She has also worked with HarperCollins Publishers in Marketing planning.

In April, Network18 had announced a restructuring, with Rajan Srinivasan being appointed CEO of IBNLive, and Joyson Thomas being appointed CEO of MoneyControl. R. Jagannathan,  took over as Editor-in-Chief of Network18’s Web & Publishing Division in March this year.

Last month, FirstPost.com acquired FakingNews.com, among India’s first satire portals, for an undisclosed amount. In March, FirstPost had launched YouSpeak, a platform which allows users to share their views through video. In February, Web18 had also amalgamated its cricket property CricketNext into its channel specific website IBNLive.com. Network18 had also sold Yellowpages.co.in and AskMe to the Delhi based classifieds business, Getit Infoservices for an undisclosed amount. The company had mentioned that this divestment was in line with its strategy of monetizing non-core assets profitably to focus on its core television and digital business.

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Related:
Network18 Appoints R. Jagannathan As Editor-in-Chief, Web & Publishing Division
FirstPost Acquires Satire Site FakingNews.com

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  • timeistheenemy

    One gathers from the article that Firstpost is a subsidiary of Web18, which is a subsidiary of Network18 (?) But the article also says that Jaggi is the Ed-in-Chief of Network18’s Web & Publishing div. What is Web18 then? Secondly, what does “CEO of Firstpost” mean? Aren’t CEOs (technically Managing Directors by Indian law) heads of registered companies? So is Firstpost actually Firstpost Pvt Ltd? Or is this an exercise of feeding popcorn to egos? Am I the only one confused or is it just me?

    • No. A “CEO” may or may not be a part of the Board of Directors (and hence no necessity for the CEO and MD to be the same; the CEO is the highest-ranking officer/employee of the organization in context, and that’s derived from a business terminology, not legal). They are often different (e.g. TVS Group) for a lot of large and medium companies.

  • Bhadra

    Congratulations to all those who have become CEOs. They will now be responsible for the revenue success of their products. Since Network 18 is a public limited company, one can ask the question – how does this move benefit shareholders? Will these CEOs now be competing with each other for the same dwindling ad rupees?