With Network18 undergoing management changes with Reliance Industries Limited taking over, Network18 founder Raghav Bahl has quit the group.
In an email to staff of the group by Bahl and his wife Rita Kapur confirmed they were leaving the organisation – but will stay around to ensure a smooth transition.
Bahl said, ���Yesterday, Ritu and I effectively ended our entrepreneurial leadership of N18 by agreeing to exit our shareholding.�
The letter, signed by both Ritu and Raghav, added, ���We are delighted to welcome Mukesh Ambani and RIL as the potential owners of Network18. Believe us, the Group is in terrific hands. Ambani is a visionary and truly good human being. And we have no doubt that Network18 would soar into the ���cloud� under this dispensation. All of you have very good cause to be excited and optimistic about the future.�
Bahl also thanked all the present and past ���team-mates�, whose ���collective ��tejasvi karma�۪ has buoyed Network18 to where it is today.�
���We would like to make a special mention of our very own Vandana, who was the first manager-cum-driver-cum-lights man of TV18 in the early 90s,� the husband-wife duo wrote.