The Network 18 group was originally owned by Raghav Bahl. In January 2012, the group received a large investment from Mukesh Ambani's Reliance Industries Ltd (RIL) through a rights issue up to ₹2,700 crore.
In May 2013, the news group was merged with the Indian edition of Forbes whose four top editorial heads including editor in chief Indrajit Gupta were dismissed under surprisingly humiliating conditions. The event led to a media furore.
The editor of the combined Firstpost-Forbes India team, R Jagannathan, stated that as a business magazine, Forbes "should not be anti-capitalism".
- "About Network 18". Retrieved 11 January 2014.
- "Reliance enters media by opening pursestrings for Network18". The Indian Express. Retrieved 11 January 2014.
- "'Forbes India' editors sacked for demanding stock ownership". The Hindu. Retrieved 11 January 2014.
- "Why Forbes' editors in India were sacked". rediff business. Retrieved 11 January 2014.
- "No country for good journalists?". Business Standard. 2013-11-16. Retrieved 2014-02-20.
- BHATIA. "The Network Effect". Retrieved 11 January 2014.
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