India's Reliance Industries' media cos jump after regulator's Disney merger nod

Network18 Media & Investments

29/08/2024 05:54

** Shares of Reliance Industries  RELI.NS -owned Network18
Media  NEFI.NS  and TV18 Broadcast  TVEB.NS  climb 8.5% and
10.6%, respectively
    ** India's competition regulator on Wednesday approved $8.5
billion-merger of the Indian media assets of Reliance and Walt
Disney  DIS.N 
    ** Network18 and TV18 Broadcast will merge as Reliance
consolidates its broadcast business
    ** TVEB and NEFI both see most active session since Jan.
    ** Including day's gains, TVEB is up 6% YTD, while NEFI has
climbed 20% in the same period

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))