India's Network18 media rises on report of content tie-up talks with Netflix

Network18 Media & Investments

12/06/2020 08:44

** Shares in Indian media co  NEFI.NS  rise as much as 5% to
34.65 rupees, their highest level since April 2019
    ** U.S. video streaming company Netflix Inc  NFLX.O  is in
talks with Viacom18, part of Network18 Media & Investments, for
a multi-year partnership to source content, Reuters reported on
Friday, citing three sources  urn:newsml:reuters.com:*:nL4N2DN3B1
    ** Under the partnership, Network18 affiliates will create
shows for Netflix to help it expand its offerings in India
    ** While the new shows will be used only by Netflix, that
does not mean Network18 and its affiliates will stop creating
shows for other platforms, two of the three sources said
    ** Financial terms of any potential partnership are not
immediately clear and negotiations are still in the early stages
    ** Shares of NEFI, part of billionaire Mukesh Ambani's
conglomerate Reliance Industries, are up 36.7% this year as of
last close

 (Reporting by Philip George in Bengaluru)
 ((P.George@thomsonreuters.com; +91 8061822657; Reuters
Messaging: p.george@thomsonreuters.net))