Network18 Media & Investments Limited is an Indian media conglomerate owned by the Reliance Industries, headed by Mukesh Ambani. Rahul Joshi is the managing director, chief executive officer and group editor-in-chief, and Adil Zainulbhai is the chairman of its board of directors. Through its subsidiaries and franchise licensing agreements, the group owns and operates the news broadcasting networks of News18, and CNBC channels in India, the magazines of Forbes India and Overdrive, the websites of Firstpost and Moneycontrol. It also operates the television networks of Colors TV, Nickelodeon India, MTV India and the channel History TV18. Incorporated in 1996 by Geeta and Rakesh Gupta, the company was acquired by Ritu Kapur and Raghav Bahl to be converted into a conglomerate holding company between 2003 and 2006. It oversaw one of the largest collections of media properties in India following its conversion but became encumbered with debt due to aggressive expansions. In 2012, the company entered into a debt agreement with Reliance Industries, through which it was granted a number of channels from the ETV Network. Wikipedia