At the recently held CNBC India Business Leader Awards, Network18, B Sai Kumar, group Chief Executive Officer announced that Network18 soon plans to launch a number of new initiatives including a business news website.

The group already runs a news website called Firstpost.com which was recently merged with Tech2. Firstpost’s editor R Jagannathan will also be leading the new venture Firstbiz.com.

Talking about the launch of its new ventures, Group Founder and Managing Director Raghav Bahl told Business Standard, "The media industry is doing well at present, and this is something which has been in the making for the last 10 years."

Firstbiz.com is expected to be launched in the coming few weeks.