India's Reliance-owned media cos gain after Disney merger update

TV18 Broadcast

15/10/2024 06:56

** Shares of TV18 Broadcast  TVEB.NS  and Network18 Media &
Investments  NEFI.NS  rise 5.5% and 6.3%, respectively
    ** Parent Reliance Industries  RELI.NS  expects merger of
co's and Disney's  DIS.N  Indian media assets to be completed in
third quarter of FY25
    ** Cos, which already have approval from India's antitrust
watchdog and company tribunal for the merger, are in process of
obtaining other approvals
    ** Merger of TV18, E18 with Network18 was sanctioned by the
company tribunal and made effective on Oct 3
    ** NEFI sees busiest session since Aug 30; TVEB marks second
busiest day in a week
    ** NEFI, TVEB down 3% and 11% YTD, respectively

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))