India's Reliance to merge media and distribution businesses into TV unit

Den Networks

17/02/2020 18:32

Feb 17 (Reuters) - Reliance Industries Ltd  RELI.NS  said on
Monday it would merge its media and distribution businesses into
its TV business, Network18 Media & Investments Ltd  NEFI.NS . 
    Under the plan, the Indian conglomerate's TV18 Broadcast Ltd
 TVEB.NS , Hathway Cable and Datacom Ltd  HAWY.NS  and Den
Networks Ltd  DENN.NS  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.

 (Reporting by Rama Venkat in Bengaluru
Editing by Marguerita Choy)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;
 within U.S. +1 646 223 8780, outside the U.S. +91 80 6182
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