Earlier reports had said that both companies would conclude their 10-year licensing arrangement around January 2016.
Broadcast network TV18 and the international news brand CNN International, have announced the extension of their collaboration on news channel CNN-IBN.
Zainulbhai said that the news channel intends to cut through the noise and clutter that is currently present in the Indian television news space. "We will offer the best practices of journalism that will lead to better understanding of issues. The channel will organise meaningful debates and raise issues that touch the lives of our viewers. With this renewed partnership, we will enhance the process of newsgathering and delivery to our viewers in an informative and enlightening manner," he said.
Speaking on the occasion, Rani Raad, chief commercial officer, CNN International, said, "We are excited about the future of CNN-IBN. Together with the new management at TV18, we will build upon the success we have already achieved. I look forward to the brand continuing its lead in the dynamic Indian news industry and am glad that CNN-IBN is staying in our family of CNN-branded channels around the world that include CNN Turk, CNN Chile, CNN Philippines, CNN Indonesia, and CNN Greece."
An official statement from the company states, "Both parties have embarked on this new chapter with a determination to refresh CNN-IBN and provide a credible, non-partisan service that will deliver the latest news about local affairs and an Indian perspective to international developments."