Reliance to merge media and distribution businesses into TV unit

Tue Feb 18 2020
Lucy Harlow (4100 articles)
Reliance to merge media and distribution businesses into TV unit

Reliance Industries Ltd said on Monday it would merge its media and distribution businesses into its TV business, Network18 Media & Investments Ltd.

Under the plan, the Indian conglomerate’s TV18 Broadcast Ltd, Hathway Cable and Datacom Ltd and Den Networks Ltd businesses will consolidate into Network18, the company said.

The company’s news broadcasting business of TV18 will be housed in Network18 and the cable and broadband businesses of Den and Hathway will be two separate wholly owned subsidiaries of Network18, Reliance said.

Billionaire Mukesh Ambani, controls Network18 through various subsidiaries of his oil-to-telecoms conglomerate Reliance Industries.

Network18’s portfolio includes VH1, Nickelodeon, MTV, CNBC TV18 and a range of other local language channels, as well as news portals such as Firstpost and Moneycontrol and news channels CNN-News18 and CNBC TV18.

Lucy Harlow

Lucy Harlow

Lucy Harlow is a senior Correspondent who has been reporting about Commodities, Currencies, Bonds etc across the globe for last 10 years. She reports from New York and tracks daily movement of various indices across the Globe