Reliance Industries on 5th June stated that the open offer to acquire a controlling stake in media conglomerate Network18 Media & Broadcast (NW18) and its units would begin on July 21 and close on August 4.
Reliance acquires Network 18
Reliance Industry Limited on 28th May has announced to acquire Network 18 by investing Rs, 4000 crore through Independent Media Trust. Reliance is the sole beneficiary of Independent Media Trust.
The deal follows a similar agreement in 2012, when it inked an investment deal with Network18.
The acquisition comes even as RIL’s telecom services unit, Reliance Jio Infocomm, gears up for the rollout of 4G telephony services.
The network 18 owns a slew of news, entertainment and e-commerce channels such as CNN-IBN, CNBC TV18, Colors and HomeShop18, online news portal Firstpost.com and e-commerce websites such as Yatra.com and Bookmyshow.com, as well as print properties such as Forbes India magazine.
Source: http://cablequest.org/news/national-news/item/5112-cq-reliance-industries%E2%80%99-open-offer-for-network18-kicks-off-on-july-21.html
No comments:
Post a Comment